Monday, June 18 | 10:15-11:30 AM
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:
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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