What are the main Regulatory Frameworks with FATF, in the EU and others for financial crime prevention?
How will your AML / KYC and Sanctions programs be impacted by the recent and ongoing EU regulatory changes?
We'll be speaking to these important changes and what you can do to ensure that you can quickly and effectively comply.
Anders Meinert Jørgensen
CEO and Co-Founder
Avallone
LinkedIn
A successful corporate banker for +20 years, Anders fought financial crime first-hand while leading compliance divisions in two of the largest banks in the nordics. Realizing that the industry is hindered by a lack of efficient tools, Anders co-founded Avallone to give companies and financial institutions a world-class platform that empowers them to combat financial crime.
Jens Madsen
Attorney-at-Law and Special Advisor
Plesner
LinkedIn
Formerly the Global Head of Investigations at Danske Bank, the Director of the Danish Intelligence and Security Service (PET) and the Director at the Danish State Prosecutor for Serious Economic and International Crime (SOIK), Jens is an international subject matter expert in AML/CFT, compliance, financial integrity, anti-corruption and counterterrorism with more than 20 years experience in top leadership positions within law enforcement, intelligence, security and justice.
• In today's complex landscape, KYC compliance is guided by multiple regulatory requirements, including Sanctions, AML/CFT, Anti-Bribery and Corruption (ABC), GDPR, and ESG/Sustainability. Each of these brings its unique legal scope and regulatory nuances, from basic to enhanced requirements.
• Staying compliant is more than just ticking a box. It's about taking proactive measures to prevent financial crime and safeguarding your reputation. Not knowing the individuals or entities you're dealing with can lead to serious reputational risks.
• As regulations shift, the industry is moving towards a Risk-Based Approach and introducing National Regulatory Authorities. This emphasises the need to assess and mitigate risks effectively in a constantly changing landscape.
• Tension between GDPR and AML regulations in some countries continues to be a real challenge. GDPR emphasises data privacy, while AML focuses on identifying and listing individuals on sanction lists. Balancing these requirements is not always straightforward.
• The EU is gearing up for a significant AML/CFT regulation overhaul with the introduction of the AMLA (Anti-Money Laundering Authority). This powerful entity will play a key role in regulating high-risk companies, either directly or indirectly, setting the stage for a more robust regulatory landscape.
In this ever-evolving environment, staying informed and proactive is key to navigating the KYC landscape effectively.