The Case for Ongoing KYC: Why the Time for Change is Now
Featured Speakers :
John O’Neill received a Ph.D. in Chemical Engineering from the University of Illinois, modeling big data sets on supercomputers. He’s worked in the tech industry in Chicago for the last 25 years, primarily in the field of machine learning and Artificial Intelligence. His first novel, The Robots of Gotham, was released in 2017 by Houghton Mifflin under the name Todd McAulty.
Sujata Dasgupta is the Global Practice Head for Financial Crimes Compliance in Tata Consultancy Services Ltd. and is based out of Stockholm, Sweden. She has over 20 years of experience, working extensively in the areas of KYC, Sanctions, AML and Fraud across banking operations, IT services and consulting. She has had a rich global exposure through her work with premier banks in several major financial hubs, viz. New York, London, Singapore, Hong Kong, Frankfurt and Nordics. She is an industry thought leader, authors articles on financial crimes compliance, and is regularly interviewed by reputed international journals for her analysis and opinions on contemporary topics in this area.
Denitsa Rebaine has been actively working in the AML and compliance space since 2015. She has experience in one of the largest financial institutions performing investigations and anti-money laundering reviews involving individual and institutional clients, as well as foreign correspondent banking. She is an ACAMS certified anti-money laundering specialist maintaining her credentials since 2017. Recently, she has taken up a new role in sanctions compliance.
In April 2020 Denitsa started her own initiative – the Compliance Time podcast which brings together compliance experts and creators from all over the world. Since its beginning, Compliance Time has a growing number of listeners and builds a vast network of followers on LinkedIn.
Other topics of interest for Denitsa are impact investing and human rights. She is also a fan of crime novels.
Ray has spent a career in financial services since his first job in a bank in 1985. He soon moved into technical departments and from there into training roles and then project management and consultancy as a freelancer, latterly in anti-financial crime and regulation. With his long-term business partner, Graham Barrow, Ray created The Dark Money Files, an anti-financial crime podcast, at the start of 2019.
What was initially a side project quickly became their main focus and live events and a recent virtual conference ensued. The pair are now in demand together and separately as speakers, trainers and commentators wherever financial crime and financial crime controls are discussed.
Complimentary webinar, presented by Silent Eight
Lately it seems that everyone in the financial compliance world is talking about the notion of ongoing or perpetual KYC. This refers to the act of moving away from the often manual, periodic reviews and instead conducting KYC reviews on a regular or evergreen basis. Sujata Dasgupta, Global Practice Head of Financial Crimes Compliance of Tata Consultancy, has suggested that ongoing KYC is a necessary “backbone” to a strong compliance function. But she recognizes that very few banks are actually doing it.
With FinCEN recently reporting that it is preparing to modernize its AML requirements for financial institutions in order to better respond to the dynamic threats posed by “illicit finance,” it will be no surprise that those may likely include updated guidelines for KYC.
In this session, join leaders in the banking, finance, and technology sector to hear firsthand what the current pain points and needs are related to KYC; why this is such a pressing issue; and what solutions are available to help solve these challenges.
In this webinar, you will learn:
- What “ongoing KYC” is
- Why this type of KYC is critical for fighting financial crime and enhancing compliance
- What common pain points are within banks and FIs and how they can be remedied
- How AI can help
This session is eligible for 1 CFCS credits.
Important note for ACFCS members: Please register using the same email address tied to your member account.