5 Key Tips for Superior Risk-based AML Compliance

Overview

The speaker will specifically address the need for a strong customer risk assessment (Know Your Customer), monitoring of transactions, monitoring and reviews of business relationships on an ongoing basis and the need for awareness of higher risk factors with business customers. We will discuss the concept of de-risking with respect to business portfolios. We will also cover some of the challenges with a risk-based approach.

Why Should You Attend

Regulatory scrutiny on AML compliance is more pronounced than ever and regulators are looking for institutions to take a risk-based approach. Lack of proper oversight with respect to AML can lead to serious consequences – reputation damage, fines, changes in business practices, inability to pursue new lines of business etc. Not taking a risk-based approach could lead to missed revenue opportunities.

Attending this webinar will provide participants with tools to ensure they take a proper risk-based approach to AML compliance to meet regulatory requirements and protect their portfolios

Areas Covered in this Webinar

• We will cover the following areas:
• What a risk-based approach means
• The value of having a risk-based approach
• Transaction monitoring best practices
• Know Your Customer best practices
• Ongoing monitoring for risk
• Higher risk customers and best practices for managing them
• Common higher risk customer categories
• De-risking and reasons for avoiding that approach
• Challenges to a risk-based approach

Learning Objectives

• Participants will learn:
• The value of developing a risk-based approach for AML
• Best practices for KYC (Know Your Customer) and transaction monitoring
• What de-risking is and how to avoid it

Who Will Benefit

• Risk and compliance officers in financial institutions and payment providers
• Product managers
• Operational managers

Others Details

This webinar will cover what a risk-based approach to AML compliance means and the best practices for KYC and transaction monitoring. Reserve your seat now!