The first day of ACAMS is over and it’s been a busy one! It’s been great to see so many of our customers and partners here in person to learn from Monday’s knowledgeable guest speakers.
On this morning’s agenda, was the ‘regulatory roundtable: News, Views and AML Previews from Top Financial Regulators’ where we heard moderator Kieran Beer, CAMS, Chief Analyst, Director of Editorial Content, ACAMS, lead the discussion between Lisa D. Arquette, Federal Deposit Insurance Corporation (FDIC), Katie Ford, Financial Crimes Enforcement Network (FinCEN), Greg A. Ruppert, FINRA, Jim Vivenzio, Office of the Comptroller of the Currency (OCC), and Suzanne Williams, Federal Reserve Board. They explored how regulators highlight the notice of proposed rulemaking on beneficial ownership, and how there has been a lot of public input on the impact of identifying a UBO, and discussed how important data is in combating financial crime, a fact we at Encompass know well.
Later, we had the chance to sit in on ‘Next: Using New technologies to Strengthen AML’, where Clyde Langley, Vice President, Fraud Risk Management, Financial Crimes Risk Management, Charles Schwab, moderated a conversation between key stakeholders from HSBC, UBS, Citibank and Scotiabank on digital transformation and the topic of Artificial Intelligence, and machine learning, as a way to further progress the ability to automate low-value tasks, tighten case resolution timelines and aid in risk mitigation decision making.