The Association of Certified Anti-Money Laundering Specialists New York Chapter kicked off the first quarter of 2019 with much success. This year so far, over 550 anti-money laundering (AML) professionals attended three exciting learning events.
In January, the chapter held a learning event titled Detecting and Preventing Human Trafficking, hosted by the director of the Center for Professional Accounting Practices at Fordham University. The event was held in January to recognize National Slavery and Human Trafficking Prevention Month. The panel focused on specific methods financial institutions can employ to detect and prevent human trafficking.
January proved to be a busy month for the chapter, as it hosted a second event titled New York State of Mind: Model Validation and Section 504, sponsored by Arc-Serv. The panel recognized the one-year anniversary of the first certification for the New York Department of Financial Services’ AML rule (Part 504), which mandates an annual certification of AML compliance programs. The lively panel discussion included representatives from a consulting firm, representatives from financial institutions of various sizes and a bank examiner.
In March, the chapter marked another significant one-year anniversary with an event titled The CDD Rule: Better or Worse Than Expected, sponsored by PwC. The event highlighted the impacts felt by financial institutions as a result of the Financial Crime Enforcement Network’s CDD Rule. AML executives from several financial institutions shared their progress since the implementation of the Rule, the challenges they have experienced and what remains to be implemented to meet Rule requirements.Keep up to date on all of the New York Chapter’s events by following them on LinkedIn. In addition, materials for all 2019 events, including free software to help detect and prevent human trafficking, can be found here.