By Elizabeth Hearst for AMLi
EUROPE’S top AFC leaders met Thursday for the prestigious AML Intelligence conference on white collar crime.
The banking and industry leaders shared their thoughts on White-Collar FinCrime trends at the exclusive event hosted by AML Intelligence in association with BAE Systems Digital Intelligence.
The conference heard from Satnam Lehal, CCO at Danske Bank, Jaap van der Molen, Global Head of AML & Sanctions at ABN AMRO, Charmian Simmons, Financial Crime Compliance Expert at BAE Systems Digital Intelligence.
Also speaking were Helène Erftemeijer, KYC Lead at ING and Riste Kelepurovski, Head of FinCrime Prevention Operations at Danske Bank.
Delegates heard first hand from Satnam Lehal on key insights into the role of the Chief Compliance Officer, the future of technology in fighting FinCrime and bolstering the relationships between public and private entities.
He also stressed that we need to “get real” about the economic crime sphere, with a need for more “joined up and braver public policy discussion” regarding FinCrime.
Jaap van der Molen, gave a thought-provoking insight into ABN AMRO’s ‘One Crime Agenda’, and recent challenges experienced by the bank.
These include healthcare fraud following on from the COVID-19 Pandemic and COVID support packages, and an increase in VAT/tax fraud. He also explained the role of banks, where banks can add value, and can detect financial crime to safeguard the financial sector.
BAE Systems Digital Intelligence’s Charmian Simmons spoke about the numerous challenges faced by financial institutions fighting white collar crime, including fraud, wire fraud and the impact that machine learning and AI are having on identifying trends and threats in FinCrime.
The rich panel discussion included contributions from ING’s KYC Lead Helène Erftemeijer who is actively involved in the Dutch initiative of TMNL, which is leading the way globally in terms of transaction monitoring and information exchange.
Danske Bank’s Head of FinCrime Operations, Riste Kelepurovski spoke of the effectiveness of PEP & RCA controls in preventing FinCrime, and revealed the challenges in de-risking customers who are often on-boarded by other banks soon after.
The morning’s conference was moderated by AMLi Publisher, Stephen Rae, and is available to registered attendees on demand.
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