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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.


Agenda


8:00 – 8:50

Registration 


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

Refreshment Break 


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

Refreshment Break


11:45 – 12:30

EUROPOL Investigation – Case Study Presentation 


12:30 – 13:45

Lunch


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

Refreshment Break


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

Closing Remarks


16:15 - 18:00

Networking Session



Our sponsors:

FFECONpro - RDC

Regulatory DataCorp (RDC) provides intelligent, automated customer screening and monitoring solutions to help businesses comply with regulations and protect themselves against financial crime. Used and trusted by more than 1,000 banks and fintech companies across more than 100 countries, RDC maintains the world’s most relevant risk database consisting of PEP, sanctions and adverse media information, combined with sophisticated AI and risk filters that automate screening processes and minimise false positives. Founded by 20 of the world’s leading financial institutions in 2002, today RDC is a Vista Equity Partners portfolio company.


FFECONnet - ACAMS

Financial Crime isn’t prevented by ticking boxes. Continuing Professional Education, and an ever expanding network of peers are two of the most powerful tools that organisations can offer their people in the fight.

We have 75,000 members in 175 countries. We offer gold standard certifications in AML, Sanctions, Risk Management and more, and we host hundreds of events each year. If you’re not an ACAMS member already – we think you should be. Come and see us at FFECON19 to find out more!


FFECONplus - hooyu, jumio, trunarrative

Emailage, founded in 2012 and with offices across the globe, is a leader in helping companies significantly reduce online fraud. Through key partnerships, proprietary data, and machine-learning technology, Emailage builds a multi-dimensional profile associated with a customer's email address and renders a predictive risk score. Customers realize significant savings from identifying and stopping fraudulent transactions.

Our KYC & customer on-boarding platform, HooYu Identify, blends ID document validation, digital footprint analysis, geo-location and facial biometrics with traditional database checks and PEPS & sanctions screening. HooYu is used by retail and challenger banks & FinTechs to maximise customer on-boarding whilst increasing KYC compliance.

Our Enhanced Due Diligence platform, HooYu Investigate, is a unique data visualisation service that uncovers intelligence on addresses, people and businesses.HooYu Investigate is used by fraud investigators and compliance teams to investigate fraud and identify shareholders.

IDnow has set out to make the connected world a safer place. IDnow’s unmanipulable identity verification is used across industries conducting online customer interactions that require a high degree of security. IDnow uses artificial intelligence to check all security features on ID documents and can therefore reliably identify forged documents. Potentially, the identities of more than 7 billion customers from 193 different countries can be verified in real-time. In addition to safety, the focus is also on an uncomplicated application for the customer. We are trusted by N26, Volksbanken, UniCredit, Commerzbank, UBS and many more.

iovation provides device intelligence for authentication and fraud prevention. By delivering granular insight about devices, their relationships, and their global reputation, we help companies stop fraud and streamline the experience for trusted users. Today, businesses around the world leverage iovation’s database of billions of devices and the relationships between them to determine the level of risk associated with online transactions.

Jumio helps organisations to meet regulatory compliance including KYC, AML and GDPR and definitively establish the digital identity of their customers. Jumio has verified more than 200 million identities issued by over 200 countries from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, cryptocurrency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the U.S., Europe and Asia Pacific and has been the recipient of numerous awards for innovation.

TruNarrative was founded with a single mission: to make safe commerce simple. The TruNarrative Platform facilitates multi-jurisdiction customer onboarding, financial crime detection and risk & compliance. Providing a single one API and unified decisioning across; Identity Verification, Fraud, eKYC, AML & Account Monitoring. TruNarrative provides a platform built on the latest technology, bringing the best of data science to ambitious companies of all sizes. Combining firms own data with 40+ third-party providers into the TruNarrative no-code interface, means firms can adapt rules and decisioning on the fly without extensive IT resources. Easy Onboarding. Smooth Transactions. Insightful Compliance.


Here are some highlights of FFECON18