Managing Financial Crime Risks in a Dynamic Financial System

Over the last decade Canadian Banks have spent millions introducing new technology and strengthening compliance practices, yet obstacles remain. Criminals continue to find ways into the Canadian financial system. Estimates of so-called ‘snow washing’ suggest that $45billion to $113billion of dirty money is laundered in Canada each year.8 Recent FINTRA fines and undisclosed fines amongst tier one banks shows gaps in risk controls. In this session we’ll discuss: · The role of the risk assessment and ideal framework when risks are continually evolving. · Ongoing monitoring techniques – and how to augment humans with technology · How to integrate the AML risk assessment to the wider enterprise framework so management is not blind sided.