Managing Director and Head of Financial Crime Compliance
Pre-Conference Workshops: Monday, 19 August 2019
Monday, August 19th, 2019
9:00 AM Combining Latest Investigation Techniques and Intelligence Exchanges to Combat Financial Crime
Financial crime remains a persistent challenge across all industries with 49% of organisations globally saying they’ve been a victim of fraud and economic crime – up from 36%. There is no foolproof method to prevent fraud; however a systematic and meaningful approach to reduce risk using modern techniques and working collaborative with other industries and businesses is key to managing crime in a timely manner when it does occur. Learn from David Cope, the Head of Financial Crime Compliance for Goldman Sachs in Asia Pacific who has over 27 years of experience in the financial crime and anti-money laundering space, both as a Compliance Officer and in Hong Kong law enforcement.
This workshop will focus on:
- Modernising the fight against financial crime with comprehensive AML and investigation strategies
- Acquiring financial data and security intelligence through public‐private partnerships
- Utilising financial crime analytics and automation in transaction monitoring and reporting of suspicious activities
Conference Day One: Tuesday, 20th August 2019
Tuesday, August 20th, 2019
11:50 AM Identifying and Mitigating the Risk of Illicit Funds from China into The Australian and Asian Pacific Markets
The growth of China’s economy is increasing wealth, leading to Chinese money flooding the Australian and Asian Pacific markets which is becoming a huge concern. A massive challenge is establishing the provenance of where the money originates from, especially with funds collapsing due to fraud or transparency issues with moving money between countries. It said about $1 billion in suspicious transactions came from Chinese investors into Australian property in 2015-2016. Standard Chartered Bank is focusing on training investigators and having consistent education of their employees to pick these scenarios up.
- Being aware of the controls strategy and educating employees to constantly and consistently pick up these scenarios by tweaking them in training
- Training investigators to understand certain types of activities to be professionally skeptical of excuses and look out for money movement
- Focusing on KYC and CDD as well as where their money comes from and their activity to prevent illicit activities