This webinar will discuss the techniques for controlling and managing the High-Risk Transactions. The Instructor will discuss the parameters for identifying and qualifying transactions as high risk and process and communication to be followed. He will also discuss how to resolve the end result.
Learn what are elements of transactions which can cause a transaction to be considered “high-risk”’ and how to make judgments in each category:
AML operations, systems, and processes are designed to provide sound compliance and appropriate reporting of Suspicious Activity to Regulators on SARS. Properly identifying the high-risk activity will focus on compliance priorities properly. Properly managing high-risk transactions when they are identified is equally important. Together, they help avoid reporting failures which can lead to sanctions against the bank.
This topic covers both the identification and management aspects of high-risk transactions. International Correspondent Banking is, particularly, a high-risk area with its own unique risk set.
Jim George is an independent consultant to banks focusing on issues of fraud. He has over 25 years’ experience as a consultant to major banks in an associate partner and principal roles at PricewaterhouseCoopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry. His work includes projects in fraud investigation, fraud prevention, identity issues, compliance, and AML (anti-money laundering). His background also includes work in bank operations and payments strategy, reengineering, systems, and quality improvement.