The FinCEN Files – what can we learn?

Professional Development

Overview

Three years on from the Paradise Papers, the recent release of the ‘FinCEN Files’ has sent further shockwaves through the global financial services industry.

The leaked files allegedly highlight around $2tn of transactions which are alleged to show how some of the world's biggest financial organisations have allowed criminals to move dirty money around the world and avoid sanctions. Those in the know take a different view and argue that the leak simply undermines the efforts to report financial crime.

This seminar will review what the FinCEN Files have brought to light and discuss how banks and other financial institutions are dealing with the fallout.

This session will help you begin to appreciate how potentially damaging the FinCEN files could be to the global financial services industry.

Online Classroom

online classroom

This course will be delivered through Online Classroom Live.

Please read our Online Classroom for Professional Development FAQ

Suitable For

Anyone working in financial services, but especially those working within compliance and financial crime prevention roles.

1 CPD hours

1 hour

Jersey

Learning Outcomes

Having attended this course, delegates will:

Understand the implications of the FinCEN Files for International Financial Centres
Be able to explain the key requirements on financial services businesses with regards to preventing fraud and money laundering
Assess the risk of their business being implicated in a similar scandal

Seminar Content

What do the files really reveal?
Review of several cases of alleged nefarious activity
An examination of key failings by financial services companies
Likely regulatory responses
How financial services businesses can protect themselves from being in a similar position
Risks if you have a connection

Speaker

Managing Director of BPP CI

Chris has over 20 years’ experience in international financial services, working both in the UK and offshore, for major financial institutions such as Barclays Wealth and Santander.

Formerly an International Investment Manager he advised both individuals and corporate entities on complex investment scenarios. He now specialises in delivering training in investment management, taxation and regulatory matters in international finance centres around the world.

Chris is a specialist chairman of a number of high-profile events, including conferences such as the Annual Compliance & Economic Crime Symposium and the International Taxation Conference. As an expert in the financial crime risks posed to international offshore financial centres, Chris was invited to speak at the Association of Certified Anti-Money Laundering Specialists (ACAMS) conference on the topic of ‘Understanding the Criminal Vulnerabilities of Offshore Products and Services’.