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  • Tuesday, June 19 | 10:15-11:30 AM


    Level: Intermediate

    Recommended Prerequisite: Knowledge of and understanding of investigations into the proceeds of corruption, as well as institutional anti-money laundering compliance

    Field of Study: Specialized Knowledge

    Recent media events from the so-called Global Laundromat to Operation Carwash and the 1MDB scandal reflect the extent to which corrupt heads of state will go to misuse their positions for their own benefit. This session will examine the methods used by corrupt politically exposed persons (PEPs) to place, layer and integrate their ill-gotten gains. It will look at the patterns of theft, money movement and spending by PEPs. It will also examine the anti-money laundering (AML) controls that financial institutions use to detect this activity and report it to the appropriate authorities.

    You Will Learn How To:

    • Assess the common risks presented by corrupt PEPs
    • Analyze the transaction patterns of and risk indicators of corruption
    • Recognize methodologies leveraged by PEPs to place dirty money
    • Compare compliance-based countermeasures to detect, deter and report the illicit activity of corrupt heads of state
    Schidlow Headshot
    Michael Schidlow, CFE, CAMS-Audit

    Head of Financial Crime Risk Training and Emerging Risk Advisory, Global Internal Audit, HSBC Bank

    Michael Schidlow currently serves as the Head of Financial Crime Risk Training for HSBC Bank’s Global Internal Audit Function. In this role, Schidlow designs and delivers bespoke training courses on anti-money laundering (AML), terrorist financing, anti-bribery/corruption (ABC), and anti-financial crime best practices. Schidlow also leads the function’s Emerging Risk Advisory for North America, Latin America, and for the Global Financial Crime Risk teams. He consults on audit planning and audit scoping based on regulatory issues, enforcement actions, and external environment monitoring.

  • Schidlow Headshot
    Michael Schidlow, CFE, CAMS-Audit

    Head of Financial Crime Risk Training and Emerging Risk Advisory, Global Internal Audit, HSBC Bank

    Michael Schidlow currently serves as the Head of Financial Crime Risk Training for HSBC Bank’s Global Internal Audit Function. In this role, Schidlow designs and delivers bespoke training courses on anti-money laundering (AML), terrorist financing, anti-bribery/corruption (ABC), and anti-financial crime best practices. Schidlow also leads the function’s Emerging Risk Advisory for North America, Latin America, and for the Global Financial Crime Risk teams. He consults on audit planning and audit scoping based on regulatory issues, enforcement actions, and external environment monitoring.

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