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Thursday, February 6, 2014 | 1:30 - 2:30 PM
Speakers:Les Joseph, Steve Goldstein, David Nanz, Tom Nollner
Searching for Beneficial OwnersTechniques, technology and best practices to unravel layers hiding
beneficial owners
Tom NollnerResident Advisor, Office of Technical Assistance
US Treasury DepartmentChicago
Manager, Global Financial Crimes Intelligence GroupWells Fargo
Washington, DC
Les Joseph
CEOAlacra
New York
Steve Goldstein
Supervisory Special AgentFederal Bureau of Investigation
Miami
David Nanz
Tom NollnerResident Advisor, Office of Technical Assistance
US Treasury DepartmentChicago
Basel Committee’s New Guidance
• Bank for International Settlements
• January 2014
• Guidelines for ML & TF Risks
• Consistent with FATF standards
Basel Committee’s New Guidance
• Items 3 addresses Beneficial Owners
• Section 35 defines “customer”
• Section 36 ID process
• Section 37 ID verified & documented
Basel Committee’s New Guidance
• Section 38 ID information detailed
• Section 39 describes types of ID documents
• Section 40 ID information risk based
• Section 41 No ID no account
Basel Committee’s New Guidance
• Section 41 SARS/STARS considered
• Section 42 Government Lists
• Section 43 rely on own CDD
• Section 44 no anonymous accounts
Basel Committee’s New Guidance
Manager, Global Financial Crimes Intelligence GroupWells Fargo
Washington, DC
Les Joseph
Supervisory Special AgentFederal Bureau of Investigation
Miami
David Nanz
CEOAlacra
New York
Steve Goldstein
How Can Technology Help Meet Beneficial Ownership Requirements?
What Technology Can’t Do
• Find information that doesn’t exist
• Automatically verify what a client has said
• Ensure regulatory requirements are met
What Technology Can Do
• Determine tasks and actions
• Discovery and guidance
• Comprehensive, simultaneous searching
• Prepare information for a client to verify or
attest to
What Technology Can Do
• Save time and money
• Store and organize
• Relate information from entity to entity
• Provide evidence of effective processes
Your Questions
Please Join Us In the Exhibit Hall for a Networking Break
Courtesy of:
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