FIBA, a non-profit trade association that represents some of the world’s largest international banking institutions, recently announced it will host a conference this February in Miami to discuss anti-money laundering compliance.
U.S. and foreign bankers will meet to discuss the expectations of regulators under a risk-based AML/Office of Foreign Assets Control compliance regime.
“We have a strong program and very high caliber speakers,” FIBA CEO David Schwartz said. “The key objective is to become aware of regulators’ expectations and that is where the upcoming 14th Annual FIBA AML Conference can help. Last year’s conference, which attracted 1,300 delegates from 40 countries, proved to be an outstanding learning and networking experience for the financial industry and established the type of conversation we want to create with the FIBA AML Conference. This year we plan to expand on that and there are certainly a lot of issues to cover.”
The agenda will include discussions related to regulatory enforcement actions taken against banks for due diligence failures in international banking activity. Other topics will include cyber fraud and the threat it poses to the banking industry, what the Financial Action Task Force will likely find during its evaluations, the importance of awareness of regulatory requirements in multiple jurisdictions and the evolution of the risk-based approach.