Future of KYC Compliance | EP 9 - Guidepost Solutions’s Megan Prendergast Millard: Why Financial Crime is An International Enterprise

Megan Prendergast Millard has an outstanding record in the world of AML and financial crime compliance. During her almost 15 years at the New York State Department of Financial Services, she supervised investigations of licensed institutions in a wide range of areas including BSA/AML, OFAC sanctions, market manipulation, virtual currency as well as all other banking and insurance matters. She was the recipient of the Superintendent’s Award in 2012, 2016, and 2017 for her work on investigations including the Standard Chartered Bank, Société Générale and BNP Paribas for U.S. sanctions and anti-money laundering violations. As Senior Managing Director at Guidepost Solutions, she is now dedicated to helping design and develop effective BSA/AML and financial crime compliance programs that also deliver a best-in-class customer experience. Topics discussed in this episode: - Megan’s background in the world of financial crime and her experience working for the New York State Department of Financial Services - Types of financial crime in small and large enterprises. - How terrorist financing has changed over the years - What criminals look for when targeting banks and financial institutions. - The role of regtech and regulators to close the gap on the biggest weaknesses the financial system has. - Cryptocurrencies vs Fiat currencies: opportunities and regulation needs - How firms have evolved after enforcement actions and financial penalties - The challenges of holding senior management accountable - The contribution of whistleblower programs in the fight against financial crime - 3 Pieces of practical advice to those actively engaged in AML.