AML: Past, Present and a New Future

Presented by

Brendan Brothers, Verafin

About this talk

Fifty years after the creation of the Bank Secrecy Act, amid the current dynamics of today’s financial crime landscape, AML professionals must address the complex challenges facing financial institutions, and institutions, regulators and law enforcement must work together to shape a new future for AML. In this webinar rebroadcast, Jim Richards, former Director of Financial Crimes Risk Management at Wells Fargo, and Corey Lynch, Verafin Product Expert, discuss how the regulatory framework evolved into the current regime. Explore how technology – developed, deployed, and run by financial crime management professionals – can enable a new AML approach for financial institutions to get a step ahead of money laundering, terrorist financing, human trafficking and other illicit financial activity. Highlights from this engaging webinar include: • Understanding the purpose of the BSA and its regulatory framework through examination of key milestones and their impact on the financial industry • Exploring recent industry developments and publications • Examining the role of people, processes and technology in modernizing AML, and exploring how technology can facilitate more effective and efficient financial crime investigations

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Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 3500 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states.