The Proceeds of Cybercrime: How Can Compliance Teams Get Better at Spotting Them? 2022 | UK Finance | 11 May 2022 | Webinar

In late 2020, the European Union (EU) introduced the 6th Directive on Anti-Money Laundering (AML), which defined 22 predicate money laundering offences in an effort to harmonise the understanding of money laundering across the EU. For banks to be compliant with the new Directive, they must be aware of the predicate offences, know how to identify them, and how to act upon suspected suspicious activity.

It is one of the newly defined predicate offences. Does this mean that AML teams are expected to spot evidence of the proceeds of cybercrime being moved? If so, how are they doing that?

On the one hand, the cyber-intrusion element of cyber criminality is well documented and understood by cyber threat intelligence analysts, incident responders, and cyber security researchers, among other relevant entities. However, less well documented and understood is from the point at which a cybercrime moves into the financial space, and how financial institutions might detect instances of cyber criminality in financial data. This is not about the bank being a target of cybercrime (which of course they are) it is about how well they can spot evidence of it happening from financial transactions.

In this webinar - we intend to facilitate a discussion between speakers from the perspective of the banking industry, technology providers and law enforcement in discussing what responsibility compliance professionals have in looking for the monetisation of cybercrime and in turn how they go about doing so.

Discussion questions:
• Do financial investigators in banks think about spotting the proceeds of cybercrime?
• Can they distinguish the proceeds of cybercrime from other types of money laundering?
• What types of cybercrime are seen most often in SARs?
• What are the different factors to consider when trying to work out how risky a particular crypto-exchange is, for a bank?
• What typologies would you encourage compliance teams to look for?
• What do banks do currently regarding monitoring for suspicious activity and cryptocurrency payments and how that can get better?

WHO SHOULD ATTEND?

• Compliance and AML professionals/experts
• Money Laundering Reporting Officer
• Chief Risk Officer
• Chief Compliance Officer
• Chief Operating Officer
• Chair of the Risk Committee

2022 Speakers

Clive Williams
Venture Lead for the FinCrime Testing Service, BAE Systems Digital Intelligence

Shelton Newsham
Information Security and Governance Advisor, UK Health Security Agency and Newsham Business Solutions Ltd

Aminah Samad
Principal, Economic Crime Policy, UK Finance

Ionela Emmett
VP- AML Monitoring and Investigations Manager at Commerz Bank

2022 Sponsors

• BAE Systems Digital Intelligence