The landscape has been shifting for some time.  Financial Institutions (FI) are expected to abandon the “check the box” compliance mentality and move to a risk-based approach.  Every FI is different so customizing a program to the FI’s business model is necessary.  Although some risks are obvious, many are not.  Add in mitigating and aggravating factors, residual risks and more and it becomes complicated and more difficult to understand.  It can make that “check the box” compliance appear to be not such a bad idea after all.

This panel will delve into understanding risk-based programs and overall risk management.  Some current high-risk topics, including scams and pig butchering will be discussed through the lens of an AML program.  The panel will also look at why all of this is important and some current best practices that can help protect the most vulnerable among us.