FIBA, a non for profit trade association whose membership includes some of the largest financial institutions in the world who are active in international banking, will be holding its 14 Annual Anti Money Laundering Compliance Conference on February 20-21, 2014 in Miami. The program will help U.S. and foreign bankers acquire first-hand knowledge of the due diligence expectations of regulators and banks under a risk-based AML/OFAC compliance program.
“The key objective is to become aware of regulators’ expectations and that is where the upcoming 14th Annual FIBA AML Conference can help”, says David Schwartz, CEO of FIBA. “Last year’s conference, which attracted 1300 delegates from 40 countries, proved to be an outstanding learning and networking experience for the financial industry and established the type of conversation we want to create with the FIBA AML Conference. This year we plan to expand on that and there are certainly a lot of issues to cover”, concluded.
FIBA’s AML conference agenda will include a range of panels that will examine topics of concern to anti-money laundering compliance officers, regulators, lawyers, accountants and others.
The money laundering potential of Bitcoin and other digital currencies has attracted a lot of media attention in recent months. While the growth of such technology is worthy of examination, such innovation is by no means the sole, or even the most pressing, anti-money laundering issue faced by international banks today.
Of much greater concern to compliance officers, however are the many regulatory enforcement actions that in recent years have cited due diligence failures at banks engaged in international correspondent banking activity. Banks must figure out how to strike a proper balance and get to know their customers, and their customers’ customers, without the wasted expense of unwarranted measures. Additional topics to be covered include the evolution of cyber fraud; the direction of AML regulation; or what is happening to the risk-based approach.
For more information on the speakers, sponsorships, the program, or to register for the event, please visit the following link.
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