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Finding Canada's Secret Sauce in its Fight Against Financial Crime
Finding Canada's Secret Sauce in its Fight Against Financial Crime

Tue, Nov 26

|

Toronto

Finding Canada's Secret Sauce in its Fight Against Financial Crime

Exclusive Event – in person event (by invitation)

Time & Location

Nov 26, 2024, 3:45 p.m. – 7:30 p.m.

Toronto, 18 Wellington St W, Toronto, ON M5L 1G4, Canada

About the event

Exclusive Event for Members Only


Agenda:


3:45pm – Arrival


A new AML/ATF Regime – What’s next?

4-4:45pm


Since June 2023, The Department of Finance and FINTRAC have been engaged in a public consultation to strengthen Canada’s AML/ATF regime leading to a number of new amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) as well as the Criminal Code. The amendments are intended to improve transparency as well place greater penalties on offending parties. These changes broaden the due-diligence obligations of certain entities and the scope of information available to law enforcement.

In this session we will bring leaders from across Canadian AML compliance ecosystem to:

  • ·Share their views on what these changes may mean for Canada’s fight against financial crime

  • Examine how these changes will impact how financial institutions oversee banking activities

  • Discuss opportunities to improve information sharing and visibility


Managing AML Risks in a Dynamic Financial System

4:45-5:30pm

Over the last decade Canadian Banks have spent millions introducing new technology and strengthening compliance practices, yet obstacles remain. Criminals continue to find intricate strategies to infiltrate the Canadian financial system. Estimates of so-called ‘snow washing’ suggest that $45billion to $113billion of dirty money is laundered in Canada each year. Recent FINTRA fines and undisclosed fines amongst tier one banks shows gaps in risk controls. In this session we’ll discuss:

  • Old and new strategies being used by financial criminals.

  • Ongoing monitoring techniques – and the next evolution of AML technology

  • The role of the risk assessment and ideal framework when risks are continually evolving.

  • Collaborative opportunities across industry or sector.

5:30pm – 7:30pm – Networking


Speakers

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