Upcoming Webinar

BAE Systems

FREE! Due Diligence: Know Your Customer and Business Partner to Unveil Sanctioned Parties and Hidden Beneficial Owners

Date: Thursday, June 8, 2017

Time: 10:00 AM – 11:15 AM EST

During this practical webinar, our panelists will share best practices on how they have approached customer due diligence for sanctions compliance purposes and where to focus limited resources.

Using audience polls, this interactive session also gives attendees the unique opportunity to benchmark their CDD compliance programs against their peers in the industry.

CDD for sanctions purposes goes beyond list screening and know your customer (KYC) during on boarding or periodic reviews and extends into CDD related to pre-transaction checks. The session will provide insights into the essential elements of a strong CDD compliance program focusing on sanctions compliance, and will explore tailored strategies to address these risks in a OFAC/sanctions compliance program.

An example of the scenario to be discussed include: You are doing due diligence on a Russian party, with financial interests worldwide. You are screening him as an individual, and he turns out to be listed. Now, you’re also responsible for screening for evidence whether he might be Ultimate Beneficial Owner (UBO) holding at least 50 % ownership in other corporate customers or business partners? How to leverage the information in your CDD/KYC data for sanctions screening purposes to capture listed UBOs?

What you will learn:

  • What regulators and auditors expect to see in your CDD program to detect embargoed countries, denied parties and prohibited end-users;
  • Practical guidance on applying OFAC’s 50% rule, and FINCEN’s customer due diligence rule;
  • Use of OFAC enforcement guidelines, FFIEC BSA/AML Examination Manual in formulating your CDD procedures;
  • How to perform Enhanced Due Diligence on clients with high risk for sanctions;
  • How to perform on-going Know Your Client updates while sanctions are so dynamic;
  • Most common mistakes when conducting CDD for sanctions compliance purposes, and how to develop more effective CDD policies and controls.

Take advantage of this unique opportunity to learn about CDD approaches and find out how other companies are addressing this issue.

Eventbrite - Due Diligence: Know Your Customer and Business Partner to Unveil Sanctioned Parties and Hidden Beneficial Owners

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Certificate of Attendance

If you participate in the live webinar, you will receive a Certificate of Attendance, which you can use to show you meet your government-required training duties.

OFAC

Duration: 

75 minutes

Moderator:

Brian Ferro

This Live Webinar is Included in the SanctionsAlert.com Membership. SanctionsAlert.com Members will receive an email with log in details one day before the Webinar. These are also posted on the SanctionsAlert.com Platform. After the Live Webinar, SanctionsAlert.com Members can also view this webinar on-demand on our Platform.

Salvatore Scotto
Founder
Complex Sanctions Forensics and FCC Advisory Services, LLC

Salvatore provides sanctions consulting services to financial institutions, law firms, US government, and commercial enterprises. He was the former Head of US Economic Sanctions at HSBC North America Holdings, where he built a comprehensive sanctions program with centralized client and transactional sanction alert clearing teams, a dedicated sanctions technology management team, and a program office that consisted of a Sanctions Policy, Communications and Training unit, a Sanctions Advisory unit, and a Sanctions Complex Investigations Team. He joined HSBC from the U.S. Department of the Treasury, OFAC. At OFAC, Salvatore specialized in Compliance and Outreach programs and served as a subject matter resource to industries and law enforcement on a wide range of issues relating to US economic sanctions compliance. He was a former chairman of the National Regulatory & Risk Committee of the International Financial Services Association, the Clearing House – OFAC Working Group, and the UN Working Group on Terrorist Sanctions programs, and Federal Financial Institutions Examinations Counsel representing OFAC. Salvatore is also the current Sanctions and AML Senior Fellow from Practice for the Regulatory Compliance Association.

Saskia Rietbroek
Certified Anti-Money Laundering Specialist and
an industry leader on anti-money laundering (AML)

Saskia is a Certified Anti-Money Laundering Specialist and an industry leader on anti-money laundering (AML) and related financial crime topics. Saskia has over 15 years of AML experience, in the USA, Latin America and Europe. Stemming from her global footprint, she applies valuable expertise and insight into international training, and financial crime compliance projects. Saskia was the founding Executive Director of the Association of Certified Anti-Money Laundering Specialists (ACAMS). She conducts training, independent reviews of AML/OFAC Compliance Programs, designs AML/OFAC Manuals, and AML/OFAC Risk Assessments. Saskia is also Partner at AML Services International, a multi-media training company in the anti-money laundering (AML) and counter terrorist financing (CTF) field. Its webinar series attracts hundreds of financial institutions from all over the world. Saskia spearheaded ACAMS as its founding Executive Director from October 2001 to December 2005. Under her leadership, ACAMS grew from 0-3500 members from 101 countries, and developed the Certified Anti-Money Laundering Specialists Program (CAMS), which has become the de facto AML credential in the financial services industry worldwide. She has served on the ACAMS Advisory Board, and on the ACAMS Exam Preparation Seminar Taskforce. From 2007-2010, Saskia served as Financial Crimes Advisor to Fiserv, a U.S- based Fortune 500 company. She is a frequent speaker in English, Spanish and Dutch on a variety of financial crime subjects. She earned law degrees from Leiden University (Netherlands) and Universidad La Católica (Lima, Peru). She also has an international MBA from Florida International University. She speaks fluent Dutch, English, Spanish and basic German.

Brian Ferro
Product Manager for Compliance
BAE -Applied Intelligence

Brian is the Product Manager for Compliance at BAE – Applied Intelligence. In this role, Brian is responsible managing the evolution of the Compliance Solutions suite of products for financial industries worldwide to help drive innovations to solve market demands.

Prior to joining BAE, Brian had spent four years in a similar role with SAS and fifteen years in Financial Crimes Investigations and Compliance with one of world’s leading financial institutions. He has primarily concentrated in the areas of Anti-Money Laundering and Counter Terrorist Financing, gaining industry experience while coordinating investigations and projects with law enforcement agencies.

Additionally, Brian has been accredited as a Certified Anti-Money Laundering Specialist (CAMS) and Certified Associate in Anti Money Laundering (FIBA).

Attendee Testimonials

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Bank of America

“Great knowledge from the presenters and the content was relevant”
— José R. Fernandez, Bank of America – Charlotte, NC, USA

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Wells Fargo

“Great coverage of information”
— Cathy Swindell-Smith, Wells Fargo – Charlotte, NC, USA

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Axa Equitable Life Insurance Company

“It was very informative. The speakers were clear and the information was disseminated in a clear, concise manner.”
— Nicolette Douglas, Axa Equitable Life Insurance Company – New York, NY, USA

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RBC

“The content was excellent and easy to understand. The presenters did a great job!”
— Susan Wilson, RBC – Toronto, Canada

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Comerico Bank

“Both speakers were exceptionally knowledgeable and provided practical information regarding the sanctions changes”
— Adam Hermes, Comerico Bank – Livonia, USA