8:30 – 9:00 Registration & Check-In
9:00 – 9:15 Welcome and Introductory Remarks:
9:15 – 9:40 The Professor James E. Byrne Memorial Keynote Address:
Alan KETLEY Executive Secretariat of The Wolfsberg Group
9:40 – 10:30 Latest News and identified Trends in Trade and TBFC
Overview of the top news stories, trends and developments.
- Cryptocurrency: Time to sit at the Big Table
- Fraud and knowing your customer
- Wolfsberg - guidance on best practice for correspondent banking RFIs
- Vessel Monitoring: The Latest + Bangladesh Requirements
- Increased regulatory focus on AML and FIs
- How effective are AML regulations?
- ESG Reporting Requirements
- Green washing from illegal activities
- Managing Shipping & Vessel Risks
10:30 – 11:00 Coffee & Networking Break
11:00 – 11:45 KYC & Beneficial Ownership: Safe Parties = Safe Transactions
Your sanctions compliance program starts and ends with knowing what is under your customers fingernails. New transparency rules prevent hiding beneficial ownership in “data vaults” like Delaware, ensuring you do not run afoul of government SDN lists.
- Beneficial Ownership and Legal Entity Identifier (GLEIF) use
- Regulated BO databases – Singapore?
- Delaware: the blackhole of BO no longer
- Transactions, pricing and HS Codes
- Onboarding New Customers: Can we make it easier?
- Understanding what you should know about your customers and their related companies
- What do the Wolfsberg principles say about KYC?
- KYCC – limitations of cross border privacy laws
- SWIFT KYC Registry: Uptake
- Supply Chain Finance platform/service providers – onboarding limitations
11:45 – 12:10 The role of ESG and Compliance
- Why do Banks care about Environmental and Social Issues
- Green Finance – opportunities and risks – Greenwashing
- International ESG Standards and Guidelines
- Declarations, reporting and regulations
- Resources, overlap and responsibilities
12:10 – 12:30 Crypto: The New Frontier
12:30 – 1:30 Lunch Break
2:15 – 3:00 Trade Sanctions
- The Russian / Ukranian Conflict
- Lack of resources
- Chinese Miliary Industrial Complex
- Cambodia and Myanmar
- Ethiopia and the 50% Rule
- Supply Chain Due Diligence
- Chinese Anti-sanction Law
3:00 – 3:30 Coffee & Networking Break
3:30 – 4:15 Trade Fraud & Money Laundering
- AML Act of 2020 – No More “Black Hole of Delaware”
- Data sharing and analytics between countries
- Multiple Invoice Financing for Goods
- Complicated STR/SAR filings drive TBML: time for Standards?
- U.K. “Dear CEO” letter on AML Frameworks and risk assessments
- Dual Use Goods and Pricing: to report or not to report?
4:15 – 5:00 Using Technology in your Compliance Programs
There is no escaping the important role that technology can play in supporting Compliance but there is a vast array of products out there.
- Using AI and BlockChain, ship registry data, and GPS (how get traction across the universe of customs / ports / shipping)
- Fintech/Regtech solutions and Cost-Benefit Analysis
- Big bank v. small bank resourcing
- Virtual Training for bank’s AML and trade staff
- Use of technology and waiver of liability: Who takes responsibility? No one . . .
- Push towards automated document checking (automated AML checking?)
- Digitalisation of Trade/URDTT
5:00 – 5:15 Wrap Up, Closing Remarks and Lucky Draw
In closing we will look at the key takeaways along with a quick Q&A with the Conference Committee.
- Key takeaways from the Conference
- Certificate in Trade Finance Compliance (CTFC)
- The Association of Trade Finance Compliance Professionals
- Q&A – Conference Committee