In late 2020, the European Union (EU) introduced the 6th Directive on Anti-Money Laundering (6AML), which defined 22 predicate money laundering offences in an effort to harmonise the understanding of money laundering across the EU. For banks to be compliant with the new Directive, they must be aware of the predicate offences, know how to identify them and how to act upon suspected suspicious activity.[1]

Cybercrime is one of the newly defined predicate offences. Does this mean that AML teams are expected to spot evidence of the proceeds of cybercrime being moved? If so, how are they doing that?

On the one hand, the cyber-intrusion element of cyber criminality is well documented and understood by cyber threat intelligence analysts, incident responders and cyber security researchers, among other relevant entities. However, less well documented and understood is from the point at which a cybercrime moves into the financial space and how financial institutions might detect instances of cyber criminality in financial data. This is not about the bank being a target of cybercrime (which of course they are), it is about how well they can spot evidence of it happening from financial transactions.

In this webinar, we intend to facilitate a discussion between speakers from the perspective of the banking industry, technology providers and law enforcement in discussing what responsibility compliance professionals have in looking for the monetisation of cybercrime and, in turn, how they go about doing so.

Discussion questions:

  • Do financial investigators in banks think about spotting the proceeds of cybercrime?
  • Can they distinguish the proceeds of cybercrime from other types of money laundering?
  • What types of cybercrime are seen most often in SARs?
  • What are the different factors to consider when trying to work out how risky a particular crypto-exchange is for a bank?
  • What typologies would you encourage compliance teams to look for?
  • What do banks do currently regarding monitoring for suspicious activity and cryptocurrency payments and how that can get better?

This webinar is dedicated to the financial market and law enforcement agencies.

Clive Williams

Clive Williams

Venture Lead for the FinCrime Testing Service, BAE Systems Digital Intelligence

Clive Williams is a visionary Chief Product Officer and Chief Operating Officer with 25 years of experience in Banking Technology, Regtech, Insurtech,...

Clive Williams is a visionary Chief Product Officer and Chief Operating Officer with 25 years of experience in Banking Technology, Regtech, Insurtech, and Fintech sectors, building products, solutions and strategies that deliver sustainable value.

Clive recently joined BAE Systems Digital Intelligence as their Venture Lead for New Financial Crime Solutions. He leads a team with a mission to develop data led solutions in Digital Intelligence, Cyber and Financial Crime for National and International Banks and the broader Financial Services Market.

Prior to joining BAE Systems Digital Intelligence Clive was working with VC/PE backed startup companies in the Fintech and Regtech Markets.  Before this he worked at IBM in the IBM Watson FS Solutions Group, where he developed transformational Risk and Compliance Solutions for Banking and launched IBM's first Cognitive based Regulatory Compliance Solution for Banks. Clive previously held the position of Senior Solutions Director for Enterprise Retail Banking, Wealth Management and Compliance & Risk Solutions at Misys (now Finastra).  

Clive is a Chartered Engineer and Fellow of the Institute of Marketing. He has a MBA from Henley Business School in the UK and has lectured on Finance and Risk Systems for the Computer Science and Mathematics faculty at University College London (UCL). 

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Shelton Newsham

Shelton Newsham

Information Security and Governance Advisor, UK Health Security Agency and Newsham Business Solutions Ltd

Shelton was named Number 2 by CSO Online magazine in the UK's Top 30 Chief Security Officers at CSO30 2021, and Digital Person of the Year 2020 by Com...

Shelton was named Number 2 by CSO Online magazine in the UK's Top 30 Chief Security Officers at CSO30 2021, and Digital Person of the Year 2020 by Computing magazine.
Prior to leaving law enforcement he was awarded Cyber Law Enforcement Individual of the Year 2020 at the National Cyber Awards. 

With over 19 years? experience in law enforcement, extensive experience in incident response, physical and digital security, critical incident management, intelligence assessments, threats to life, incident investigation and investigating Serious and Organised Crime

Shelton has extensive experience supporting law enforcement, central and local government, and public and private sector. He is a subject matter expert in many information security disciplines including Cyber investigation, Cyber security strategy, Risk management, Cyber Protect (businesses and communities), Training, Process Improvement and Leadership Support. He has also sat on working groups for the NCSC and NCA reviewing cyber security strategies and tackling serious and Organised Crime.

Shelton holds a number of certifications in Information security management, governance, risk and compliance. He is also a fraud investigation case review officer.

Shelton is also director and founder of Newsham Business Solutions Ltd, delivering information security consultancy and training.
 

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Aminah Samad

Aminah Samad

Principal, UK Finance

Aminah specialises in delivering policy and advocacy on behalf of members, leading on UK Finance's domestic anti-money laundering offering and wider e...

Aminah specialises in delivering policy and advocacy on behalf of members, leading on UK Finance's domestic anti-money laundering offering and wider economic crime reform matters. She leads on anti-money laundering related regulatory and legislative projects, oversees the Money Laundering Advisory Panel and provides support on strategic issues within the wider economic crime reform programme. 

Prior to UK Finance, Aminah worked as consultant at KPMG within the financial crime department. She specialised in providing advisory, investigation and analytical services within AML and sanctions to global financial services clients.

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Ionela Emmett

Ionela Emmett

VP- AML Monitoring and Investigations Manager at Commerz Bank

With over14 years of experience in the financial crime field including fraud investigations and AML, Ionela is currently managing the AML & Fraud ...

With over14 years of experience in the financial crime field including fraud investigations and AML, Ionela is currently managing the AML & Fraud Monitoring and Investigation team at Commerzbank London Branch, conducting complex investigations across different business platforms. She previously worked in a similar role at Citibank NA. Ionela is a Certified Fraud Examiner and has also trained with the Analysis Training Unit at Greater Manchester Police. Ionela's particular specialty is investigation into the utilisation of complex corporate networks and intelligence for financial crime purposes.

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BAE Systems Digital Intelligence

BAE Systems Digital Intelligence

BAE Systems Digital Intelligence protects businesses, nations and people - against crime, terrorism and state conflict. We are part of BAE Systems, wh...

BAE Systems Digital Intelligence protects businesses, nations and people - against crime, terrorism and state conflict. We are part of BAE Systems, which defends nations across land, sea, air and cyber domains.

Organisations must transform and enable change, but the threats of the digital landscape are serious and urgent. They work across borders, jurisdictions and sectors, which is why we do too.

We have 4,000 experts working in 17 countries across the globe, to help our customers achieve their goals.

In financial services, we build on our market-leading financial crime solutions, helping financial institutions globally to fight financial crime and cyber risks. This not only helps the FS industry play its part in keeping society safe but also enables it to operate effectively under tough regulatory pressures. In the public sector, we are the leader in delivering secure complex data projects for government organisations. Meanwhile our cyber security expertise provides security operations and management services to governments, financial services and other complex organisations.  BAE Systems Digital Intelligence can help defend a nation's people, economy, financial institutions and infrastructure from online and offline threats.   Our expertise is unique in that we have applied cyber defence expertise used to defend nations and states to financial services firms.

Across these three domains, we use data insights to protect and support, we secure customer missions with information and operational advantage, and we build transformative models for the future.

For more information visit our Website: www.baesystems.com/en-financialservices/home

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  • Compliance and AML professionals/experts
  • Money Laundering Reporting Officer
  • Chief Risk Officer
  • Chief Compliance Officer
  • Chief Operating Officer
  • Chair of the Risk Committee