Pre-Conference Workshops Tuesday, June 6, 2023

WORKSH OP A 9:00 am – 12:30 pm

ROADMAP TO AML RISK-ASSESSMENT: How to Effectively Integrate Risk Assessment into Your Core AML Compliance Program

Andres Betancourt, CFCS, CAMS, CCI, FIS Senior Manager, AML/ATF International, Banking Internal Controls Scotiabank

Rosalind Laruccia

AVP Internal Audit, Enterprise Risk & Corp. Functions Laurentian Bank of Canada

To help assuage the impact of corrupt money movements, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTA) has established anti-money laundering (AML) regulations in Canada that require financial institutions to develop robust, reliable AML compliance programs.

A critical piece of these programs includes risk assessment, which involves evaluating current processes for common risk indicators that might require corrective action. During this deep-dive workshop, we’ll break down the basics of AML risk assessment, examine critical components and common risk indicators, and offer insights into effectively integrating risk assessment into your more extensive AML compliance program.

Join this workshop to explore:

• Implementing the key tenets of a risk-based approach (RBA) to decision-making in AML

• How to execute AML Risk Assessment techniques to help finetune your RBA to AML

• The latest current risks landscape and industry guidelines in 2023 and moving into 2024

• Filling in your knowledge gaps through technology and third-party services

• How to identify risk profiles, categories, and sources that may influence your total risk

• Identifying the Key Risk Indicators (KRIs) and ensuring they are consistent

• Best practices for deploying risk assessments through comprehensive reporting

• Implementing end-to-end integration that ensures holistic data from risk assessments is available

Includes a 30-minute networking luncheon (12:30 – 1:30 pm ET)

WORKSHOP B 1:30 pm – 5:00 pm

FINTRAC PREPAREDNESS: How to Design and Deliver an Effective AML Compliance Program that Measures Up to FINTRAC Requirements

Rebecca Ip, CPA, CFF, CAMS-Audit Partner

KPMG

Canada

While FINTRAC has been assessing up-to-date compliance programs to ensure that they reflect amended regulations, they only recently launched ‘true’ examinations, whereby any noncompliance found will be cited as a deficiency under the PCMLTFA and be subject to follow-up or enforcement actions.

This deep-dive workshop will provide guidance and practical advice on how to establish a defensible compliance program that makes the grade to avoid the risk of penalty.

During this workshop, we will explore:

• Aligning your compliance controls and processes with the current regulatory regime

• Adjusting your compliance program for design, application, and delivery requirements

• Improving reporting standards to better justify risk-based decisions

• Managing the importance of documentation to demonstrate due diligence

• How to effectively respond to facts, context, and indicators

• Next steps and what to do if you have received a request from FINTRAC

• Preparing for FINTRAC examinations and responding to information requests

Includes a 30-minute networking luncheon (12:30 – 1:30 pm ET)

*Workshops are offered In Person only.

For over 30 years, C5 Group has proVided the opportunities that bring together business leaders, professionals and international experts from around the world to learn, meet, network and make the contacts that create the opportunities.

Our conferences and related products connect the power of people with the power of information, a powerful combination for business growth and success.

8:00 am Networking Breakfast and Registration

9:00 am

Opening Remarks From the Co-Chairs

microphone-alt Andres Betancourt, CFCS, CAMS, CCI, FIS, Senior Manager, AML/ATF International, Banking Internal Controls, Scotiabank

Christine Ring, Vice President, AML Advisory, Canada and the Caribbean, RBC Former Managing Director, AML, and Compliance Division, OSFI

9:05 am SPECIAL FINTRAC KEYNOTE

Modernizing and Strengthening Canada’s AML Regime

Sarah Paquet

Director and Chief Executive Officer

FINTRAC

The Canadian federal government is strengthening Canada’s AML regime by planning a beneficial ownership registry that would require corporations to register and verify the identity of companies’ beneficial owners, making it more difficult to use shell companies to conceal criminal activity. In 2022, the federal budget underscored Canada’s commitment to amend the Business Corporations Act to implement a public and searchable beneficial ownership registry, aiming to make it accessible before the end of 2023.

During this critical discussion, we will explore:

• An overview of the current corporate transparency landscape in Canada

• Understanding Canada’s Beneficial Owner Registry in a global context

• Updates on Bill 78 and publicly accessible beneficial ownership information

• How federal, provincial, and territorial governments are working on Beneficial Ownership transparency (BOT) and updates to key milestones of collaboration

Achimov Chief Compliance Officer and Deputy Director

Donna

FINTRAC

During this highly anticipated session, hear from FINTRAC leadership on its strengthened commitment to best practices within Canada’s AML/ATF Regime and learn about collaboration between counterpart financial intelligence and regulatory agencies. We will hear from FINTRAC leadership on initiatives aimed at combatting money laundering across Canada, including:

• Advancing innovative public-private partnerships through the newly established Public-Private Collaboration Steering Committee by FINTRAC

• Enhancing emphasis on innovation and modernization to navigate the ever-changing and increasingly challenging AML/ATF environment

• Strengthening Canada’s legislative framework to better protect Canadians and the financial system from money laundering and terrorist financing

• FINTRAC’s strategic priorities and compliance expectations moving into 2024

9:45 am INCOMING AML POLICY CHANGES

A Review of the Beneficial Ownership Registry in Canada, the PCMLTFA, KYC Compliance, and Other Important AML Measures in the Pipeline microphone-alt Suhuyini Abudalai, CAMS, Partner, Cassels Brock & Blackwell LLP

Rosa Copetti, Director, AML Governance, SPARC, BMO Financial Group

James Cohen, Executive Director, Transparency International Canada

Jeff Simser, Barrister & Solicitor, Former Legal Director, Ministry of the Attorney General

10:45 am Networking Break

11:00 am FORECAST FOR CRYPTO REGULATION IN CANADA

The Path to Regulatory Clarity for Cryptocurrencies and Other Digital Assets on the Heels of the Collapse of FTX

microphone-alt Adam Garetson, General Counsel & Chief Legal Officer, WonderFi

Joseph Iuso, CAMS, CFCS, Chief AML Officer, BitBuy

Eric Richmond, Chief Operating Officer, Coinsquare

Following recent events in the crypto market, the Canadian Securities Administration (CSA) is strengthening its approach to the oversight of crypto trading platforms. During this panel, we will explore the expansion of existing requirements for crypto platforms operating in Canada, with discussion points including:

• Understanding the cryptocurrency landscape across major economies

• The role of regulations in the transition to a crypto world

• An update to crypto trading platforms operating in Canada

• The role of the Ontario Securities Commission (OSC) in creating the first global crypto platform, Crypto.com

12:00 pm Networking Luncheon

1:00 pm

Pcmltfa And Rpaa

Understanding the Confluence of the PCMLTFA and the Retail Payment Activities Act: What MSBs, PSPs, and the Financial Institutions that Bank them Need to Know

microphone-alt Peter Aziz, Senior Counsel and Member, Financial Institutions Practice and the Payments and Cards Practice, Torys LLP

Marie-Andrée Malo-Mongeau, CPA,CA, CAMS, Senior Director, Commerce Solutions Product & Client Experience, CIBC

1:50 pm ADVANCED TECHNOLOGIES IN AML AND SANCTIONS

Implementing Robust AI and Machine Learning Tools to Modernize Your Risk-Based Approach to AML

microphone-alt Stephen Alsace, Global Head of Economic Sanctions, RBC

Drew Galow, Managing Director, AML Model Management, Analytics and Machine Learning, BMO Financial Group

Learn about the myriad ways that AI is innovating AML and gain key strategies for adapting AI into compliance across the organization. During this AI-focused session, take a deep dive into digital transformation of AML through AI as we discuss:

• Using AI to remediate false positives

• Identifying the value and use of AI in transactions monitoring

• Innovative uses of modern technology to combat money laundering

• Understanding FATF recommendations on AI in AML

2:50 pm Networking Break

3:05 pm INTERNATIONAL PERSPECTIVES

Breaking Down International AML/CFT Legislative Developments in the EU, US, and UK

microphone-alt Marcus Asner, Partner & Co-chair, Anti-Corruption, Arnold & Porter

Former Assistant U.S. Attorney; and Former Chief, Major Crimes and Computer Hacking/ Intellectual Property, Southern District of New York

Deborah Connor, Partner, Litigation Department, Morrison Foerster

Former Chief, Money Laundering and Asset Recovery Section, U.S. Department of Justice

John Corelli, Chief Counsel, Serious Fraud Office, Crown Law Office, Criminal, Ministry of the Attorney General

Peter Warrack, M.S.C., Chief Compliance Officer, Bitfinex

Join this intriguing discussion on international AML laws and frameworks with insights on recommendations from the Financial Action Task Force (FATF), the independent intergovernmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

• PIPEDA, Privacy, and what’s next for the global AML landscape

• International investigations and plea agreements

• A look at the AML patterns and restrictions in the EU, US, and UK

4:00 pm NAVIGATING THE COMPLEX MAZE OF RUSSIA SANCTIONS

Strategies to Manage New, Complex, and Conflicting Sanctions

microphone-alt Andrew Jensen, Managing Director and Global Head, Sanctions and Screening, Scotiabank

Former Assistant Director of Global Affairs, Middle East/North Africa, U.S. Department of Treasury

Join a panel focused on the latest in navigating the ever-changing Russia sanctions web in 2023 and moving into 2024. We will take a look at the interaction of coordinated sanctions measures including Canada, the US, and the EU and the challenges in interacting with sanctions enforcement authorities. Join this discussion for insights into:

• An overview of updates to the latest in Russia sanctions

• Sanctions evasion and other key issues from an AML perspective

• Best practices for communicating with sanctions enforcement authorities

5:00 pm Day

Adjourns to Networking Cocktail Reception