The upcoming 14th Annual FIBA AML Conference on February 20-21, 2014 in Miami, will convene industry leaders from both private and public sectors to debate key insights on regulatory expectations and best practices in order to ensure that transnational banks and financial institutions have at their disposal the information necessary to operate safely in the current BSA/AML/OFAC compliance environment. The program will also help foreign bankers acquire first-hand knowledge of the due diligence expectations of U.S. regulators and U.S. banks under a risk-based AML compliance program.
To facilitate an integration of global regulations and best practices for AML and compliance. This industry gathering is powered by three essential engines: long–standing institutional commitment, cooperation with the public and private sectors and a practice based content. The FIBA Annual AML Conference reflects this long-standing institutional commitment.
FIBA is well-recognized by regulators and U.S. law enforcement for its proactive approach to BSA/AML/OFAC compliance, for its high-level education and training programs in these matters as well as for its cooperation in the fight against money laundering and terrorist financing.
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The Industry Speaks
An aggressive regulatory environment for AML and OFAC compliance has led to unprecedented fines and the need to increase spending on systems and controls. Further complicating this environment are global regulatory regimes that have converged to place a common set of expectations on financial institutions. Despite the fluidity of these regulatory regimes, financial institutions are spending most of their AML/OFAC compliance dollars in the following areas, regardless of the core business of the financial institution or the jurisdiction in which it operates:
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