BAFT Financial Crime Compliance Workshop – Hong Kong
August 15, 2017
35/F One Pacific Place
88 Queensway, Hong Kong

Overview | Program | Speakers
Preliminary Program
08:30 – 09:30PM
Breakfast and Registration
03:30 – 09:35PM
Ms. Stacey Facter
Senior Vice President, Trade Products
09:30 – 10:00
Introduction/Workshop Overview
Learning objective: A workshop for transaction banking business and compliance personnel to understand important regulatory requirements and developments in combating financial crime, with an emphasis on governance and accountability.
Ms. Radish Singh
Partner, Deloitte Forensic, Financial Crime Compliance
Mr. Chris Cheung
Deloitte Forensic, China/Hong Kong
10:00 – 11:15
Financial Crime Compliance and Customer Due Diligence
Learning objective: This session will help bankers and compliance personnel to understand the regulatory requirements regarding customer identification and due diligence, the responsibility of the “first line of defense” to identify and mitigate customer risk, and recent regulatory developments.

  1. Initial customer due diligence and risk rating (AML CDD & EDD, sanctions)
  2. Event driven and periodic refresh of information
  3. Recent developments
  4. Beneficial ownership
  5. Special concerns
  6. 1. Trade based money laundering
    2. Bribery and corruption (PEPs)
    3. Shell companies and tax evasion (Panama Papers and FATCA)
11:15 – 11:30
Networking Coffee Break
11:30 – 12:30
Transaction Monitoring

Learning objective: This section will explain recent regulatory developments in governance and optimization of automated transaction monitoring systems for both AML/CFT and sanctions compliance´╗┐.

  1. Governance of your automated system
  2. NYDFS Rule 504 & Model Validation
  3. Optimization – a combination of systems, processes and people
  4. Detection scenarios and case studies
12:30 – 13:30
Networking Lunch
13:30 – 15:30
Trade Finance and Correspondent Banking
Learning Objective: This section will describe current international standards (FATF) and supervisory expectations (BCBS) for correspondent banking and how correspondents are respondents can meet these expectations in an efficient and cost effective way.

  1. Initial customer due diligence and risk rating
  2. 1. Initial CDD/EDD and risk rating
    2. Event driven and periodic refresh of information
  3. When do you have to know you customer's customer?
  4. Restricting or closing an account
15:30 – 15:45
Networking Coffee Break
15:45 – 16:45
Learning objective: Learning objective: This section will explain the evolution of economic sanctions programs, which have become more complex over time, and offer strategies to protect against inadvertent and deliberate evasions of sanctions regime requirements.

A. Comprehensive sanctions, SDNs and sectoral sanctions
B. EU v. US sanctions against Iran
C. Sanctions in trade finance
D. Governance
     1.   Training and awareness
     2.   Testing
     3.   Accountability
16:45 – 17:00
Q & A and Wrap Up