AFB Seminar: Anti-Money Laundering Act – Impact on EU Banks in the UK

AFB and PwC invite you to attend an in-person seminar and panel discussion exploring the impact of the new EU Anti-Money Laundering Authority (AMLA). 

In June 2024 an AML Package to combat money laundering and terrorist financing, first proposed by the European Commission in July 2021, was published in the EU’s Official Journal. One of the most significant changes introduced in the Package is the creation of the new EU agency, AMLA.

This session will begin with an introduction to the European Commission’s AML Package and to AMLA (including its powers and responsibilities); the scope and impact of the AML Package for financial institutions; as well as covering the expected timelines for implementation.

There will be ample time for questions during the session. We would like to invite members to submit specific questions and areas for the discussion by the panel in advance of the session, to ensure that members get the most out of the discussion and the most pertinent questions for members are addressed.

Why attend?

Following the introduction to the AML Package and AMLA, there will be a panel discussion, considering the following topics:

• Obliged entities – which institutions are likely to be considered obliged and what this could mean in terms of supervision
• The impact for EU vs non-EU banks – including the differences in supervision, and reporting obligations
• The UK perspective – including where the Package and AMLA is likely to go above and beyond current requirements of the UK
• Data and reporting – the data which AMLA will require from all obliged entities and how they expect this to be reported
• Technology – How best can banks act now to enhance their technology capabilities to prepare for AMLA?
• Timelines and implementation – what can banks be expected to do (regardless of their obliged status) now/in the next six months/within the next year to prepare for the introduction of AMLA?

Who should attend?

This session is aimed at those working as MLROs and in Compliance functions.

Speakers

Zeynep Turunc, Partner

Zeynep leads the Financial Crime Customer Due Diligence advisory practice in the UK, and has worked across a number of sectors including Banking and Government.

Zeynep is an AML/KYC compliance professional with 15 years of experience in a wide range of managed services and financial crime regulatory and advisory projects.  Zeynep has worked for 2 UK government regulators, spent 10 years leading large banking functions.

Mark Gregory, Partner

Mark is a Partner specialising in financial crime compliance transformation and the use of innovative technology and analytics to prevent and detect financial crime.

Mark has a deep expertise across financial crime in both public and private sectors and supports clients in areas such as strategy, design, review and optimisation of controls leveraging advanced analytics and technology.

Ben Luddington, Director

Ben is a Director in PwC’s London based Financial Crime practice. He predominantly advises banks and other payment services organisations on compliance with financial crime requirements and his recent experience includes leading numerous Financial Crime reviews and assisting UK firms dealing with Financial Crime inspections by the FCA (preparation and subsequent actions).

Ben has also attended a number of FCA interviews as part of these inspections in his role as Financial Crime subject matter expert supporting a firm’s internal audit function.

Gillian McKee, Senior Manager

Gillian is a Senior Manager in the Financial Crime team with over 10 years of experience in AML/KYC compliance. Gillian’s specialism covers the provision of operational and regulatory support within the financial services sector.

Gillian has worked on a wide range of client projects, providing KYC and remediation expertise to a global firms across US, UK, APAC and EMEA. Her experience has a focus on the creation of global policies and procedures based on best practices and industry standards as well providing insights and guidance to clients on regulatory change as a result of new legislation.

Logistics

Fee:         Included in AFB membership (no fee)

Location:  In-person at PwC, 7 More London Riverside, London SE1 2RT

Date:        Tuesday 24 September 2024

Time:        09:00 – 11:00 (registration & refreshments from 08:30).  You are invited to stay for refreshments and networking after the session.

There will be ample opportunity for questions throughout the session, however, if you would like to submit a question before or have any specific questions or areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk as soon as practicable. You will receive details on how to join this in-person session a week before the event.