You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
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.
This webinar is dedicated to the financial market and law enforcement agencies.
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).
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.
Director, Economic Crime, UK Finance
She specialises in delivering policy and advocacy on behalf of members, leading on UK Finance's domestic anti-money laundering offering and wider econ...
She 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.
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.
Sensa-NetReveal provides financial crime, risk management, and fraud detection and prevention for banking, financial markets, and insur...
Sensa-NetReveal provides financial crime, risk management, and fraud detection and prevention for banking, financial markets, and insurance. The Sensa-NetReveal platform is adaptable to the evolving and heterogeneous financial services sector, delivering power and flexibility in analytics, investigation, integration, security, and lower total cost of ownership. Learn more at baesystems.com/financialservices.
Click on the image below to watch the webinar again
By downloading this document, you understand and agree that any sharing, distribution or republishing of the content, without prior written authorisation from the author or content managers at UK Finance, shall be constituted as a breach of the UK Finance website terms of use.
