searching for beneficial owners - technology and best practices to unravel layers hiding beneficial...

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

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