Tackling Hidden Risks in AML Screening Programs

28 January 2020 - 28 January 2020
Tackling Hidden Risks in AML Screening Programs
Date
28 January 2020
Venue
Webinar

January 28, 2020 | 08:00 am – 09:00 am ET 
January 28, 2020 | 12:00 pm – 01:00 pm ET 

Over the past decade, a number of institutions have been fined for failing to screen all client records or screening them in a timely manner. Properly configured screening applications and efficient data flows can be more critical to an effective AML implementation than the AML policies themselves. With changes in organizational structure, AML policies, and M&A activities, understanding these systems can be difficult and complex.

 In this webinar, Greg Pinn, AML consultant, will reveal know-hows that he learnt while working with FIs around the world for over a decade about how to avoid some of the common pitfalls in the configuration of screening programs, including software configurations, risk scoring attributes and weights,and both client and reference data flows.

 Learning Objectives

  1. What to look for when reviewing AML screening programs, including personnel, data flow, screening configuration, and reporting

  2. How to ensure there are no gaps in the flow of your data from regulators and client systems to screening software so your organization is not inadvertently exposed to additional sanction risks

  3. How does the flow of sanction, regulatory and law enforcement data differ from that of adverse media

  4. Things to consider when configuring your screening software including age/DOB requirements, thresholds for false positive reduction (while not missing false negatives), and name matching options