Since the financial crash in 2007, nearly USD 60 billion in enforcement actions has been levied against financial institutions and individuals for AML, data privacy, MiFID, and ESG compliance violations.
According to the latest research from Fenergo, global KYC, tax and AML-related penalties against financial institutions fell in 2022 compared to a year earlier, and appear to be plateauing. However, there were several notable penalties against banks and crypto firms that warrant further attention.
In this webinar, we discuss Fenergo's latest analysis of enforcement actions from 2022, key lessons that have emerged, the areas under scrutiny in supervisory AML inspections, and measures FIs can apply to more effectively ensure regulatory compliance.
Based on the past year of enforcement activity, we will also discuss best practice for managing risk and detecting and preventing financial crime, as well as regulatory expectations for the year ahead.
By registering for this event, you will get early access to Fenergo’s annual global enforcement actions report.
Rory Doyle
Financial Crime Policy Manager
Fenergo
Natalie Curtis
Partner
Herbert Smith Freehills
June Lau
Senior Vice President, Head of APAC Compliance
State Street
Anthony Hope
Executive (GM) AML / CTF / Fraud and FCR Innovation
NAB
Manesh Samtani
Editor
Regulation Asia
(Moderator)
Rory Doyle
Financial Crime Policy Manager
Fenergo
Nick Wakefield
Co-founder
ESG Investor &
Regulation Asia
(Moderator)
Mr Ken Nagatsuka is the Executive Director and Head of Payments Department at the Monetary Authority of Singapore (MAS). The department is responsible for the authorisation, ongoing supervision and policy-making in relation to payment systems and payment service providers, such as e-money issuers, remittance providers and digital payment token (more commonly known as cryptocurrency) service providers under the Payments Services Act.
Prior to this, Mr Nagatsuka has worked in the field of capital markets regulation for over 15 years, and was previously Head of the Capital Markets Policy Division responsible for policy formulation and reviewing legislation in relation to capital markets and market infrastructures. In his role, he represented MAS on various international committees under the FSB, CPMI and IOSCO, on subjects such as OTC derivatives reforms and financial market infrastructures. Prior to that, he also served in various roles in exchange and clearing house supervisory functions.
Mr Nagatsuka holds both a Bachelor of Business Management and Bachelor of Science in Economics from the Singapore Management University.
Ari Redbord is Head of Legal and Government Affairs at TRM Labs, a blockchain analytics company. Prior to joining TRM Labs, he served as a Senior Advisor to the Deputy Secretary and the Under Secretary for Terrorism and Financial Intelligence at the United States Department of Treasury. In this capacity, he worked with teams from the Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC), and other Treasury and interagency components on issues related to sanctions, the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies.
Previously, Mr. Redbord served as a Senior Assistant United States Attorney for the District of Columbia, where he investigated and prosecuted cases related to cryptocurrency, terrorist financing, sanctions evasion, export control, child exploitation and human trafficking. He has received numerous awards from FinCEN, the FBI, and the United States Attorney’s Office, including the Attorney General’s Award for leading an interagency task force dedicated to prosecuting those who abuse and exploit children.