Money laundering is the process of making the proceeds of criminal activity appear to have been legally obtained – simply put – make “dirty” money look “clean”. According to the IMF and World Bank, criminals “launder” an estimated 2 to nearly 4 Trillion Dollars each year and use the global financial system to support their lifestyle and acts of terrorism.
The Anti-Money Laundering laws and regulations in many countries have evolved in an effort to prevent and detect illegal criminal activity and the financing of terrorism. For example, the United States Patriot Act, which was passed after the September 11 attacks, gives the US Government powers to require Financial Institutions to monitor the transactions of their customers and report potentially suspicious activity.
This presentation will discuss a brief history of recent criminal and terrorist activity and the techniques employed by Financial Institutions to prevent and detect potentially illegal activity by reporting it to the US Government. These reports are a critical source of information for all branches of national and local law enforcement.
Presented by Peter D. Wild, FCA, CAMS Audit.
This program is in partnership with The World Affairs Council.
About Peter Wild
Peter Wild has over 50 years of hands-on experience in the Audit and Information Technology Management fields in England, Europe, and the USA. During the last 15 years, he has played a leading consulting role in Anti-Money Laundering and Sanctions Screening business processes and related computer applications for a number of major US and foreign financial institutions. This has included developing and executing audit strategy and business process remediation as a result of regulatory enforcement actions. Previously, he was a Senior Audit Manager at J.P. Morgan in New York City. Recently, he was a Senior Advisor with the McKinsey Financial Crime team and provided advisory services in financial crime detection and prevention for major financial institutions in the US and abroad. He develops and presents training courses in these areas for the Association of Certified Anti-Money Laundering Specialists (ACAMS). Peter has been recognized frequently for his leadership including the receipt of a number of industry awards. He was educated in England and moved to the USA during 1980 and is a dual UK and US citizen. He is a lifetime Fellow of the Institute of Chartered Accountants in England and Wales (FCA) and holds the CAMS Audit Advanced Certification (CAMS Audit). He is on the Board of the World Affairs Council of Charleston. His interests include automobiles, and he is a judge at a number of annual Concours D’Elegance vintage car shows.
About The World Affairs Council
The World Affairs Council of Charleston (WACC), formerly the Charleston Foreign Affairs Forum, was founded in the early 1980s as a nonprofit, nonpartisan organization. Membership represents a cross-section of individuals from business, education, and civic backgrounds. Through thought-provoking presentations and discussions, participants of all ages and backgrounds are invited to challenge and enhance their understanding of the world. WACC is a 501(c)(3) organization and is a member of the World Affairs Councils of America, a network of 93 independent, nonpartisan councils across 40 states.
The ticket price below includes a boxed lunch for you to enjoy during the program.
