Sanctions compliance is no longer limited to government list screening. Regulatory expectations and guidance increasingly warn of risks involving the use of front and shell companies, deceptive practices, and evasion on the high seas.
As risk professionals seek access to better content to identify risk, they demand enhanced solutions from legacy systems to better balance the increased scope of reference data with the operational burden of false positives. At the same time, sanctions targeting and related enforcement actions have expanded beyond banks to include insurers, software providers, and other corporates, providing further guidance of which industry must be mindful.
In the session our experts explore:
- The role AI can play in the efficiency of risk screening.
- How intelligence on sanctions networks can boost risk identification.
- The synergies that exist between sanctions, KYC, and Financial Intelligence Unit capabilities to address these risk challenges.
- The factors that are driving the uptick in sanctions-related enforcement actions and how industry can best respond.
- Recent settlement agreements, looking at lessons learned and the associated impact on industry.
Hear Kharon, Accuity, and guest speakers explore these points, examine real life case studies, and discuss best practices for enhancing both effectiveness and efficiency in risk screening.
Ben Davis, Chief Research Officer, Kharon
Ben heads the Kharon research and analysis team, which supports global institutions with highest caliber sanctions-related risk intelligence. Ben’s unparalleled expertise on the commercial and operational activities associated with sanctioned actors is built on over a decade of experience in the US government, academia, and private legal practice. Ben served as an analyst at the US Treasury Department’s Office of Terrorism and Financial Intelligence, as the US Treasury’s Financial Attaché to the Palestinian Authority based in Jerusalem, and as co-lead of the Iraq Threat Finance Cell in Baghdad. As a practicing attorney, Ben litigated a number of complex financial crime cases. He has taught numerous university courses on terrorism and international law issues.
Vijay Gopaladesikan, Executive Director, FCC Screening Product & List Management, Standard Chartered Bank
Vijay has spent almost two decades in the financial services industry and has been based in Singapore since 2015. In his current role he is responsible for all filter configurations, algorithms, rules, advanced modules setup such as stripping detection, decision reapplication, etc, and its data analysis. Prior to joining Standard Chartered Bank, he headed the Transaction Surveillance Operations team in ABN AMRO and then Royal Bank of Scotland, covering TS, NS, TM, FATF, Data Mining, and List Management in India. Vijay holds a double Masters in Business Administration and Computer Applications.
Will Harrington, Client Services Manager, Kharon
Will directs Kharon's client service operations. Kharon clients rely on Will for training and coordinating research support. Will is an expert at Kharon’s data modeling practices, and works closely with Kharon analysts in the quality assurance process. Will previously worked at the National Consortium for the Study of Terrorism and Responses to Terrorism (START) and the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Will holds an MA in Security Policy Studies from George Washington University and a BA from Towson University.
Dave Loeser, Senior Director of Product Strategy, Accuity
Dave Loeser is Senior Director of Product Strategy for Accuity. In this capacity, his responsibilities range from designing sprint-level user stories to managing product teams focused on multi-year strategic initiatives. For more than a decade, Dave has helped develop the Firco Compliance Link Suite, and is currently spearheading cross-product strategic initiatives. Dave received his Bachelor’s Degree in Political Science from University of Illinois at Urbana-Champaign and attained a Masters of Business Administration, Management and Strategy from Northwestern University – Kellogg School of Management.
Victoria Lumb, Senior Vice President, Kharon
Victoria leads Kharon’s global sales team and operations. She brings to Kharon over a decade of global business development and management experience in AML data and software solutions. Victoria worked ten years at Accuity/Fircosoft building and leading the global sales team and has advised multiple start-ups on launching sales operations and go-to-market strategies.
Howard Mendelsohn, Chief Client Officer, Kharon
Howard works closely with business, compliance and legal professionals to strengthen programs and controls for managing financial crime risk. Howard has over two decades of experience in combatting illicit financial activity, in both the government and the private sector. Howard served at the US Treasury Department from 2001 to 2011, including as Deputy Assistant Secretary and Assistant Secretary (Acting) for Treasury’s Office of Intelligence and Analysis. Howard led Treasury’s intelligence functions, including oversight of analytical production, risk assessment, security, and strategic planning. Following his service at Treasury, Howard held leadership positions in Enterprise Compliance at PNC Financial Services Group. He is a recognized thought leader on Financial Crime matters and speaks regularly at conferences.
Dr. Adam Ruff, Head of Global Sanctions Compliance at National Australia Bank
Adam joined NAB in early 2019 as the Global Head of Sanctions Compliance. Prior to joining NAB, Adam was a Director within the Advisory team of Deloitte Forensic. Adam spent 12 years with Deloitte, having worked in Deloitte’s offices in Australia, Singapore, Hong Kong, Germany and Switzerland.
Adam completed his doctorate in 2012, the thesis assessed the effectiveness of AML/CTF law.
Joshua Shrager, Senior Vice President, Kharon
Josh works with Kharon’s key clients on strategic initiatives and partnership opportunities. Prior to Kharon, Josh was a director at data analytics firm Quid, where he managed east coast and Europe client relations operations as well as directed company wide client engagement strategy and implementation. Previously, Josh served in the US Department of the Treasury as the Deputy Financial Attaché to Saudi Arabia as well as co-lead of the Iraq Threat Finance Cell in Baghdad. He also was a US Department of State Foreign Service Officer, with postings in Mexico and The Gambia, where he oversaw the embassy’s Public Affairs office.
Daniel Skolnick, VP Product Strategy, Accuity
Daniel Skolnick has spent 20 years in the AML/Sanctions compliance industry, the last 10 years creating and delivering data science and AI enabled applications into the financial crime control space. As VP of Product Strategy at Accuity, he's working to ensure the successful integration of SBS into Accuity with a focus on integrating SBS’ capabilities across the Accuity data and product portfolio.
Cari Stinebower, Partner, Winston & Strawn LLP
Cari N. Stinebower is a member of Winston & Strawn’s White Collar, Regulatory Defense & Investigations Practice. Cari counsels clients on compliance with U.S. economic sanctions, Bank Secrecy Act and anti-money laundering (AML) laws and regulations, export controls, and anti-corruption/anti-bribery laws and regulations. She works with financial institutions and multi-national corporations to develop compliance programs, conduct AML and Office of Foreign Assets Control (OFAC) risk assessments, conduct internal investigations, respond to government investigations, and address potential conflicts of law arising from non-U.S. data privacy and "blocking" laws and regulations. Cari also works with industry groups to develop sanctions and AML best practices policies and procedures. Cari served as counsel for the U.S. Department of the Treasury's OFAC and as a Programs Officer for OFAC, where she advised on sanctions and anti-terrorism legislation, drafted United Nations Security Council Resolutions and related executive orders.