Two-Part Learning Event: Investigations and High-Level Corruption

The ACAMS Chicago Chapter kicked off 2015 with a renewed focus on the delivery of high-impact educational sessions for its members. On February 26, 2015, the chapter hosted a two-part learning event. One session featured several current and former law enforcement members experienced with investigating the Black Market Peso Exchange (BMPE) scheme, trade-based money laundering (TBML), and advanced money laundering techniques, and the second session focused on the inner workings of high-level corruption. The event was held at the Federal Reserve Bank of Chicago for an audience of over 135 attendees, one of the chapter’s largest events since its inception in 2008.

The panelists’ discussion of BMPE, TBML, and advanced laundering techniques addressed the impact that criminal organizations have on the U.S. financial system in general, as well as local communities. The discussion on real world examples of corruption provided compliance professionals information that might assist them in their review of politically exposed persons (PEPs) and relatives and close associates (RCAs). Additional highlights included analysis of the functionality and goals of financial intelligence units (FIUs), in securing institutions against money laundering risk.

The Chicago Chapter has faced tremendous growth in its membership over the last year and the board has reassessed the needs of its members and the Chicagoland anti-money laundering (AML) community in approaching the production of learning events. Where feasible, the chapter hopes to maximize the scale of events while simultaneously concentrating their timeframe and educational benefits. Chapter Chair Jack Oskvarek notes that, “The double sessions help to further meet our members’ needs with current topics and regulatory trends.”

Moreover, on May 12, 2015, the chapter hosted another two-part event. The event was held at the BMO Harris Bank offices in downtown Chicago and featured key speakers from management consulting and banking. The following topics were covered:

  • Understanding the recent changes to the 2014 FFIEC BSA/AML Examination Manual
  • Current BSA/AML hot topics
  • How to deliver value through the three lines of defense model

The Chicago Chapter will develop events throughout the remainder of 2015 with a continued focus on delivery of practical knowledge through the leverage of leading subject-matter experts to provide valuable information to assist the AML community. The Chicago Chapter board welcomes ACAMS members visiting from outside the Chicagoland area to drop in on its learning events whenever the opportunity arises.

Review details on past and future events on the ACAMS Chicago Chapter website at:

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