FFECON19: Mindful Financial Crime Prevention in a Digitally Enabled World
27th November 2019. 30 Euston Square, London, NW1 2FB
Originally described as “disrupters” of the financial services sector, FinTechs are increasingly playing a significant role within the financial crime prevention community. The tools developed and harnessed by FinTechs have also showcased how innovative technology can be harnessed to detect illicit actors. FinTechs are clearly no longer the “new kids on the block”!
As the FinTech sector continues to evolve and grow, so too will the financial crime risks they face, along with increasing demands placed on their compliance staff. How will FinTechs successfully navigate this next stage?
This year’s FFE conference will look at how FinTechs are taking on these challenges, where they’ve succeeded and – in some instances – where they wished they had done things differently. This year’s event will also incorporate a broader look at financial crime prevention and consider emerging financial threats and the need for nimble tactics to address them.
The FinTech industry has prided itself on its “customer experience” focus. We’ll be exploring this further by considering the ethical use of data, the causes of crime and those who are impacted by it. Is it possible to take a “mindful” approach towards financial crime prevention? Join us on the 27th of November and find out.
8:00 – 8:50
8:50 - 8:55
Welcome and Introductory Remarks
9:00 – 9:15
Special Address - Centre for Data, Ethics and Innovation
“Ethics and Data: Can they co-exist in the fight against financial crime?”
9:15 – 10:15
Digging Down to the Roots of Financial Crime
Most financial crime professionals are so busy with their daily duties there is little time to step back and look at the problem of financial crime as a whole. Why are some consumers more vulnerable? Why do individuals become involved with financial crime? How might this inform the way we approach financial crime prevention? Hear from this diverse panel on these topics and their relevance to informing an AFC compliance programme.
10:15 – 10:35
10:35 – 11:15
The Changing Threat Landscape of Terrorism
The events of the last 3 years have turned the old typologies around terrorist financing upside down. Both the nature of terrorist activity and their targets have expanded. The means of attack, as well as funding methods have also expanded to include misuse of malware, the media and use of cryptocurrencies. This seasoned panel will canvass the changing landscape of terrorism activity and its relevance for the detection and disruption by FinTechs.
11:15 – 11:30
FINTRAIL: Supporting the FinTech Community - Part I
11:30 – 11:45
11:45 – 12:30
EUROPOL Investigation – Case Study Presentation
12:30 – 13:45
13:45 – 14:00
FINTRAIL: Supporting the FinTech Community - Part II
14:00 – 15:00
Fake News, Fake Views and Disappearing Acts: Can we Really Rely on Internet Sourced Media to Verify Customer Identity?
Nefarious actors not only rely on specialist services to “erase” all traces of themselves off of the internet but are also populating the web with positive and false information about themselves, their companies, their activities and their counterparties. With the 5AMLD mentioning over 15 times the need to make reference to independent and reliable sources of information in assessing adverse media, what are the latest tactics used by criminals and how can you evidence that the sources you rely on when screening customers meet the
“independent and reliable” criteria?
15:00 – 15:15
15:15 - 16:00
What to do When it all Goes Wrong: Crisis Management in an AML Failure Scenario
What happens when things DON’T run smoothly? What if you discover that your screening programme has missed a trick or you’ve onboarded members of an organised crime group? Where do you start to try and deal with the problem and prevent it from reoccurring?
At some point, financial crime professionals will need to manage a crisis or unexpected disruption to existing operations. Hear from these experienced AFC compliance professionals about their own experiences and the advice they would give weather the choppy seas of a crisis.
16:00 - 16:15
16:15 - 18:00
FFECONnet - ACAMS
Here are some highlights of FFECON18