The RegTech Pulse

Global trade is an area of increased focus for regulators - the sheer number of participants and the movement of goods around the world significantly increases the risk of bribery and corruption, leading to the facilitation of illegal trade such as human, weapons or wildlife trafficking. 

In this episode, Charles Thomas, Director of Anti-Bribery and Corruption, LexisNexis Risk Solutions, and Aneta Klosek, Director of Market Planning, Trade Compliance, LexisNexis Risk Solutions, discuss the interconnection between trade and corruption, and some of the measures companies can implement to enable ethical, legal, global trade.

For any questions and/or inquiries please feel free to reach us at [email protected] or visit out website www.accuity.com/theregtechpulse

Office of Foreign Assets Control (OFAC) sanctions have mounted on Venezuela over the past five years in response to internal unrest and conflicted elections. In this episode, we speak with Dave Loeser, Senior Director Product Management at Accuity, about the reasons behind the sanctions, the actions OFAC is taking to strengthen its program, and some of the pitfalls companies need to be wary of when conducting international business, to avoid falling foul of regulators. 

Click here to access our full report on Venezuela sanctions.

For any questions and/or inquiries please feel free to reach us at [email protected] or visit out website www.accuity.com/theregtechpulse

In this week’s episode of #TheRegTechPulse, we talk to Wendy Ennis, Head Financial Crime Compliance from Mox Bank, Hong Kong. Digital/Virtual banks are on the rise globally, but so are the rising complexities in non-F2F KYC and screening across alternate payment channels. Wendy discusses the importance of customer experience in the world of compliance for fintechs along with her recommendations and best practices for institutions to combat financial crime.

About Wendy:
Originally from Canada, Wendy has worked in Asia for almost 18 years. Prior to joining Mox, Wendy was the Regional Head of Business Advisory & Governance (GCNA) at Standard Chartered and chaired the HKAB KYCU Committee. Wendy recently formed the HK VB FCC Working Group with an aim to contribute to industry exchange. Wendy has spent some enjoyable time with JPMorgan, GE and American Express working in various senior roles in front office sales and leading teams in both the middle office and compliance. She is drawn to exploring the balance between controls and innovation and has a keen interest in the role of RegTech to aid FCC risk identification. She is also passionate about supporting D&I at Mox.

For any questions or inquiries feel free to reach us at [email protected] or visit our website: www.accuity.com/theregtechpulse 

In this week’s episode, we talk cryptocurrency with Solutions Consultant Katarina Pranjic from LexisNexis Risk Solutions. Cryptocurrency is on the rise, but so are ransomware attacks and sanctions risks. Katarina discusses why crypto features such as anonymity pose an increased risk for drug trafficking and terrorism funding, and some of the new regulations aimed to tackle these issues.

For questions or inquiries feel free to reach us at [email protected] or visit our website: https://risk.lexisnexis.com/regtechpulse

DISCLAIMER: The information provided in this podcast is for informational purposes only and is not intended to and shall not be used as legal advice.  The views and opinions expressed in this episode are solely those of the speaker/s and do not necessarily reflect the views or positions of LexisNexis Risk Solutions.  LexisNexis Risk Solutions does not warrant that the information provided in this podcast is accurate or error-free.  

In this episode, Mark Nuttall, Country Manager at Hill & Associates (and ex Interpol and New Scotland Yard) discusses a wide range of sanctions related topics, from the new Myanmar sanctions, to AML and CFT changes in the post-Brexit landscape,  TBML regulations and complexities to emerging threats and best practices for 2021.

About Mark Nuttall:

Mr. Mark Nuttall is the country manager at Hill and Associates and he oversees the firm’s operations in Singapore, which is licensed by the Singapore Police Force as a 'Security service provider'. As the country manager, Mark is in charge of the organisation’s overall business practicalities, and navigates complex risk problems on behalf of clients. As an innovator, he initiated a program of partnerships with FinTech, RegTech, Training SaaS, OSINT, specialist data retrieval expert providers, and physical security product providers.
Mark is well versed in the specialist areas of counter-fraud, AML, tax churn, financial misuse, legitimate and illegitimate commodity chains, organised crime and murder investigations, technology use and partnerships. This is alongside environmental governance and climate risk mitigation, corporate intelligence, internal investigations, due diligence, asset identification and protection, contract and donor negotiation, and strategic risk management.

For any questions or inquiries, feel free to reach us at [email protected] or visit our website: www.accuity.com/theregtechpulse 

Sanctions are complex, ever-changing, and often pose a challenge for organizations across the world. We recently had the opportunity to interview John Smith, Partner at Morrison & Foerster LLP, and former Director of the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), to discuss the major sanction themes we witnessed in 2020, and what we can expect in 2021 with the new U.S. administration. In addition, we discuss the dimensions of sanctions, and the key best practices for global organizations to keep in mind when building and/or maintaining compliance programs.

About John Smith:

John E. Smith served as the Director of OFAC, as well as its Deputy Director and Associate Director, for 11 years before joining Morrison & Foerster in July 2018. Concurrent with serving as OFAC Director, Mr. Smith also served as acting Under Secretary for the Office of Terrorism and Financial Intelligence at Treasury (January 2017 to June 2017). 

While serving as a top official at OFAC, Mr. Smith was centrally involved in all aspects of developing, implementing, and enforcing U.S. government sanctions requirements. As OFAC Director, he oversaw every OFAC enforcement case against financial institutions and global operating companies.  Mr. Smith played a pivotal role as OFAC moved to the center of our nation’s response to the world’s most complex and challenging national security and foreign policy crises, working closely with other governments and multilateral agencies and the private sector. He has overseen the U.S. government’s economic sanctions efforts, imposing sanctions on heads of state, countries, and illicit actors; conducting enforcement actions against dozens of major financial institutions and companies around the world; and developing innovative sanctions enforcement policies to address evolving U.S. national security priorities. 

Mr. Smith is now co-head of Morrison & Foerster’s National Security practice, and a member of the Global Risk + Crisis Management group and Investigations + White Collar group. Both in the United States and globally, clients turn to Mr. Smith for his deep experience and unique perspective on the complexities and escalating risk of U.S. and multilateral sanctions. He is a trusted advisor for clients navigating significant civil and criminal enforcement actions by U.S. and other government prosecutors and regulators. John was named by Global Investigations Review (GIR) in November 2019 as one of the most respected Washington, D.C. sanctions lawyers.

For any questions and/or inquiries, please contacts us at [email protected] or visit our website, www.accuity.com/theregtechpulse 

The adoption of cryptocurrencies are continuously increasing amongst financial institutions and corporations across the world, but is the world ready for the adoption of virtual coins? 
Listen to Mriganka Pattnaik, Co-Founder and CEO of Merkle Science, discuss the implications and factors that would lead to a big push for institutional adoption of cryptocurrencies. 
For more information contacts us via [email protected]

As COVID-19 vaccines start rolling out across the world, Aneta Klosek from Accuity and James Wyatt from Aeroconcept discuss some of the logistical and compliance challenges involved.

On the last episode of #TheRegTechPulse, hosts Ankit, Daphne and Julia, get together to reflect on the year, and share some of their episodes highlights of 2020 . Tune in to revisit the top episodes of the year, the most enlightening conversations, and what the team is most excited about in 2021. 
Happy Holidays! 

Listen to our conversation with Saskia Rietbroek, Executive Director at the Association of Certified Sanctions Specialists - originally recorded as a LinkedIn Live session. Saskia gives us a great overview on the sanctions landscape for 2021, and predictions for the new year.

If you have any question, feel free to contact us at [email protected] or visit risk.lexisnexis.com/regtechpulse

DISCLAIMER: The information provided in this podcast is for informational purposes only and is not intended to and shall not be used as legal advice.  The views and opinions expressed in this episode are solely those of the speaker/s and do not necessarily reflect the views or positions of LexisNexis Risk Solutions.  LexisNexis Risk Solutions does not warrant that the information provided in this podcast is accurate or error-free.