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The Changing Dynamics of Anti-Money Laundering & Combating Terrorism Financing in the FINTECH Era

BACKGROUND New technology in the financial sector (FinTech) offers a tremendous promise for broadening and strengthening the global and regional financial systems. By streamlining processes and workflows for the delivery of convenient and quick financial services at affordable cost, FinTech makes sustainable financial inclusions a realistic goal while significantly reducing the regulatory compliance burden.

The features will include sound machine learning allowing useful, accurate, informative and effective analytics, as well as self-operative assisted decision making with Artificial Intelligence.

This would enable existing banks and new players to provide seamless access to efficient and secure financial services to more than 50% of the unbanked and financially excluded population in MENA and other emerging countries. It will seriously enhance the regulatory compliance and drastically mitigate the regulatory risks related to Anti-Money Laundering and Countering Financing of Terrorism. On the other hand, the General Data Protection Regulation (GDPR) which was issued in 2016 and started to be under implementation in May 2018 and Bahrain law no.30, 2018 which was issued in July 12, 2018 and entered into force starting August 1, 2019 is the latest in the long line of privacy-related EU initiatives.

This dedication to privacy and all-round consent can be overwhelming and downright challenging for the users. A predominant GDPR challenge for any financial institution is the sheer scope of the work to be done in order to be fitting according to the updated guidelines. It is humongous and it needs very delicate and thorough approach.

OBJECTIVES

After Completion of this important workshop the attendee will be able to: – Understand FinTech and the role it plays in the current Era – Understand the relation between FinTech and AML/CFT – How to manage the risks of the GDPR through understanding how an entity can be exposed to those Regulations

MAIN TOPICS & AGENDA

DAY 1: ( Opening ceremony) -AML & KYC Compliance Context, Trends and Challenges -FINTECH – Sanctions Screening and Payments Screening Filtering Cross Border Remittances -FINTECH – Integrated workflow for customers KYC On-Boarding & KYC Life Cycle Management -Digital On-boarding and digital ID -The Convergence of Cyber security, Cyber financial Crimes and Cyber terrorism

DAY 2: – Risk Based Approach to AML / CFT Challenges and effective practices – Managing and mitigating AML / CFT De-Risking while promoting financial inclusion – Trade-Based Money Laundering requirements, trends and challenges – Fintech – AML Transactions Monitoring and Trades Surveillance / Market Manipulation – FinTech – Crypto-Assets / Crypto-Currencies (Blockchain Wallet) – De-risking and Financial Inclusion Challenges – The era of FinTech and Mobile Money

DAY 3: GDPR and the Data Privacy framework across the Middle East – Business Conduct, Ethical Business & Anti-Bribery Corruption Program -The Latest Developments in Financial Crime and Tax Evasion Panel Discussion: – OFAC various Sanctions programs – Correspondent Banking Compliance Program

Mr. Mohamed DAOUD Business Development Director Governance, Risk & Compliance Middle-East and Africa (MEA) REFINITIV (formerly Thomson Reuters Dubai ) UA

Mohamed Daoud is a strategic leader and seasoned professional with more than 25 years’ experience in the Banking and Finance sector in the US, Europe and the Middle East with a special focus for the last 15 years in Governance, Risk and Compliance (GRC). His working experience includes Africa and Russia.  Mohamed has a strong expertise in financial crimes including Anti-Money Laundering, Countering Financing of Terrorism (AML/CFT Act) and Anti-Bribery and Corruption (ABC) program. His knowledge encompasses requirements, processes and regulations with Fintech and Regtech solutions expertise.   Mohamed brings a wide experience in the various areas of retail, wholesale and private banking including risk strategy with effective corporate governance. He has a broad-based international leadership experience across strategy consulting, business transformation and cultural changes.  Mohamed’s collaborative approach combines mentoring and sharing experience which allows him to quickly demystify complex issues by identifying the connections between frameworks, processes and people. He regularly collaborates as a speaker through awareness workshops, forums and conferences on the topics of compliance, corporate governance and cultural changes.  Prior to moving to the Middle-East, Mohamed held different executive positions in large international banks across the US, UK, and Europe in retail, wholesale and investment banking.

Mr. Bashir A. El-Nakib Compliance Alert LLC Founder – Moderator, Managing Paertner, Expert Instructor – Lebanon

With over 25 years of experience in the financial services industry across Netherlands, and the Middle East, Bachir’s broad functional expertise spans across financial regulatory risks, operational risk, regulatory compliance, & financial crimes. His recent professional experience includes the development of expertise in relation to Forensic skills, Corporate Fraud, Tax Evasion Fraud, FATCA compliance, ABC (Anti-Bribery and Corruption, Founder Compliance Alert LLC highlighting cyber-crime in so far as it impacts on the financial services industry and the risks associated with new payment methodologies and mobile banking. Specialties: Public Law, Corporate Governance, AML/CTF, Corporate Fraud Investigations, Financial Crime Prevention, Forensic Accounting, Specialist Training.

Mr. Camille BARKHO Business Advisor / Acumen Corporation LLC for consulting and information solutions at Financial, commercial and public sector – Lebanon

Mr. Barkho has more than 20 years of experience in the world of banking and informatics, as he was recently the head of Compliance Department in an esteemed Lebanese bank. Mr. Barkho is currently an active member in Acumen s.a.l Information consulting and solutions in the financial, commercial and public sectors in terms of the role it plays as a business consultant, design solutions, especially in compliance, anti-money laundering and terrorist financing. Mr. Barkho Holds a Bachelor’s degree in Informatics and holds a University degree in Banking & Business Consulting IT Solutions and CAMS Certificate

February 24 2020

Venue

Gulf Hotel – Manama Kingdom of Bahrain

Gulf Hotel - Manama - Bahrain
Manama, Bahrain

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The Changing Dynamics of Anti-Money Laundering & Combating Terrorism Financing in the FINTECH Era
BACKGROUND New technology in the financial sector (FinTech) offers a tremendous promise for broadening and strengthening the global and regional financial systems. By streamlining processes and workflows for the delivery of convenient and quick financial services at affordable cost, FinTech makes sustainable financial inclusions a realistic goal while significantly reducing the regulatory compliance burden.

The features will include sound machine learning allowing useful, accurate, informative and effective analytics, as well as self-operative assisted decision making with Artificial Intelligence.

This would enable existing banks and new players to provide seamless access to efficient and secure financial services to more than 50% of the unbanked and financially excluded population in MENA and other emerging countries. It will seriously enhance the regulatory compliance and drastically mitigate the regulatory risks related to Anti-Money Laundering and Countering Financing of Terrorism. On the other hand, the General Data Protection Regulation (GDPR) which was issued in 2016 and started to be under implementation in May 2018 and Bahrain law no.30, 2018 which was issued in July 12, 2018 and entered into force starting August 1, 2019 is the latest in the long line of privacy-related EU initiatives.

This dedication to privacy and all-round consent can be overwhelming and downright challenging for the users. A predominant GDPR challenge for any financial institution is the sheer scope of the work to be done in order to be fitting according to the updated guidelines. It is humongous and it needs very delicate and thorough approach.

OBJECTIVES

After Completion of this important workshop the attendee will be able to: – Understand FinTech and the role it plays in the current Era – Understand the relation between FinTech and AML/CFT – How to manage the risks of the GDPR through understanding how an entity can be exposed to those Regulations

MAIN TOPICS & AGENDA

DAY 1: ( Opening ceremony) -AML & KYC Compliance Context, Trends and Challenges -FINTECH – Sanctions Screening and Payments Screening Filtering Cross Border Remittances -FINTECH – Integrated workflow for customers KYC On-Boarding & KYC Life Cycle Management -Digital On-boarding and digital ID -The Convergence of Cyber security, Cyber financial Crimes and Cyber terrorism

DAY 2: – Risk Based Approach to AML / CFT Challenges and effective practices – Managing and mitigating AML / CFT De-Risking while promoting financial inclusion – Trade-Based Money Laundering requirements, trends and challenges – Fintech – AML Transactions Monitoring and Trades Surveillance / Market Manipulation – FinTech – Crypto-Assets / Crypto-Currencies (Blockchain Wallet) – De-risking and Financial Inclusion Challenges – The era of FinTech and Mobile Money

DAY 3: GDPR and the Data Privacy framework across the Middle East – Business Conduct, Ethical Business & Anti-Bribery Corruption Program -The Latest Developments in Financial Crime and Tax Evasion Panel Discussion: – OFAC various Sanctions programs – Correspondent Banking Compliance Program

Mr. Mohamed DAOUD Business Development Director Governance, Risk & Compliance Middle-East and Africa (MEA) REFINITIV (formerly Thomson Reuters Dubai ) UA

Mohamed Daoud is a strategic leader and seasoned professional with more than 25 years’ experience in the Banking and Finance sector in the US, Europe and the Middle East with a special focus for the last 15 years in Governance, Risk and Compliance (GRC). His working experience includes Africa and Russia.  Mohamed has a strong expertise in financial crimes including Anti-Money Laundering, Countering Financing of Terrorism (AML/CFT Act) and Anti-Bribery and Corruption (ABC) program. His knowledge encompasses requirements, processes and regulations with Fintech and Regtech solutions expertise.   Mohamed brings a wide experience in the various areas of retail, wholesale and private banking including risk strategy with effective corporate governance. He has a broad-based international leadership experience across strategy consulting, business transformation and cultural changes.  Mohamed’s collaborative approach combines mentoring and sharing experience which allows him to quickly demystify complex issues by identifying the connections between frameworks, processes and people. He regularly collaborates as a speaker through awareness workshops, forums and conferences on the topics of compliance, corporate governance and cultural changes.  Prior to moving to the Middle-East, Mohamed held different executive positions in large international banks across the US, UK, and Europe in retail, wholesale and investment banking.

Mr. Bashir A. El-Nakib Compliance Alert LLC Founder – Moderator, Managing Paertner, Expert Instructor – Lebanon

With over 25 years of experience in the financial services industry across Netherlands, and the Middle East, Bachir’s broad functional expertise spans across financial regulatory risks, operational risk, regulatory compliance, & financial crimes. His recent professional experience includes the development of expertise in relation to Forensic skills, Corporate Fraud, Tax Evasion Fraud, FATCA compliance, ABC (Anti-Bribery and Corruption, Founder Compliance Alert LLC highlighting cyber-crime in so far as it impacts on the financial services industry and the risks associated with new payment methodologies and mobile banking. Specialties: Public Law, Corporate Governance, AML/CTF, Corporate Fraud Investigations, Financial Crime Prevention, Forensic Accounting, Specialist Training.

Mr. Camille BARKHO Business Advisor / Acumen Corporation LLC for consulting and information solutions at Financial, commercial and public sector – Lebanon

Mr. Barkho has more than 20 years of experience in the world of banking and informatics, as he was recently the head of Compliance Department in an esteemed Lebanese bank. Mr. Barkho is currently an active member in Acumen s.a.l Information consulting and solutions in the financial, commercial and public sectors in terms of the role it plays as a business consultant, design solutions, especially in compliance, anti-money laundering and terrorist financing. Mr. Barkho Holds a Bachelor’s degree in Informatics and holds a University degree in Banking & Business Consulting IT Solutions and CAMS Certificate

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