the web seminar has not yet started: a sound check will be...
TRANSCRIPT
www2.acams.org/webinars
The web seminar has not yet started:A sound check will be performed 5 minutes before the start time.
COPYRIGHT NOTICE – USE OF WEBEX LOGIN/PASSWORD FOR ACAMS WEB SEMINARS
Each site license entitles registrant to one login: one phone connection (if accessing audio via teleconference) and one Internet connection for simultaneous Webcast, in one room where an unlimited number of listeners may participate.
Providing your login instructions and password to another for their use, using your login ID/password more than once, or any simultaneous or delayed transmission, broadcast, re-transmission or re-broadcast of this event to additional sites/rooms by any means (including but not limited to the use of telephone conferencing services or a conference bridge, whether external or owned by the registrant) or recording is a violation of U.S. copyright law and is strictly prohibited.
www2.acams.org/webinars
2
• Can you hear the
sound check?
• It has begun
www2.acams.org/webinars
If you cannot hear me speaking:Listen through your computer speakers
On the Webex menu click COMMUNICATE and
AUDIO BROADCAST. During the event, if the audio stops,
just press STOP, wait 5 seconds, then press PLAY. That often fixes problems.
OR listen through your telephone
Look in your registration email to see country-specific
telephone numbers and today’s Webex teleconference “access code.”
WebEx Technical Support Send a message to me via the Q&A boxor call WebEx Technical Support:
From US & Canada 1-866-229-3239
From other countries +1-916-229-3239
www2.acams.org/webinars
4
Questions?
The Q&A box is in the bottom right hand corner
Type your question and click send!
www2.acams.org/webinars
5
Automatic CAMS creditFor both paid events and free events, every attendee will receive 1 CAMS credit per hourof live event. That is automatic in our system, so you do not need to request it.
Other CPE CreditPlease contact the granting organization for alternative credit(s). ACAMS processes only CAMS credit(s).
Certificate upon requestFor paid events only, every registered name can request one certificate of attendance.Please use the link in the confirmation email you received from ACAMS about today’s event.
Certificates are not available for free events.
Additional questions? Please contact [email protected].
The web seminar has not yet started.
www2.acams.org/webinars
Welcome to the ACAMS Web Seminar
Utilizing AML Data Analytics to Identify Emerging Criminal Patterns
6
www2.acams.org/webinars
Speakers
Jim Candelmo, CAMSExecutive Compliance Director & BSA AML Officer
Ally Financial
Steve Gurdak, CAMSSupervisory Analyst
High Intensity Drug Trafficking Area
Moderator
Gail Towne, CAMS
Director AML Modeling and Data Governance
BMO Financial Group
www2.acams.org/webinars
• Building Blocks – Centralized– Data Governance
• Defined Roles/Responsibilities and Data Taxonomies• To ensure a consistent and repeatable approach• Controls• Reports/Metrics – Basel Principles for effective risk data
aggregation & risk reporting (http://www.bis.org/publ/bcbs239.pdf )
– Data Management - “Clean” – Accessible to AML Data Scientist/Analyst & FIU for
consumption
www2.acams.org/webinars
• People
– Adequate Numbers
– Qualified / Trained
• In-house
• Consultants
• Third Party
• Interns from your local university
– Retention
– Shadow or dedicated FIU for both Analytical & Technological FTE
www2.acams.org/webinars
• What is Analytics?
Start with What is not Analytics
www2.acams.org/webinars
• What is Analytics?
• Reporting / Business Intelligence – uses analytics, but is different from analytics; "The analysis of all kinds of data using sophisticated quantitative methods (for example, statistics, descriptive and predictive data mining, simulation and optimization) to produce insights that traditional approaches to business intelligence (BI) — such as query and reporting — are unlikely to discover." (http://www.applieddatalabs.com/content/new-gartner-magic-quadrant-advanced-analytics-platforms)
www2.acams.org/webinars
• What is Analytics? • Gartner has created its own definition: "Analytics
leverage data in a particular functional process (or application) to enable context-specific insight that is actionable." (http://www.infoworld.com/article/2655501/databas
e/-analytics--buzzword-needs-careful-definition.html)
www2.acams.org/webinars
– Tools
• Leverage existing company tools – typically, SQL, R, SAS
• “Bolt-on” solutions - Tableau, Business Objects, Spotfire, RapidMiner, Knime, Revolution Analytics, SAP, StatSoft, Angoss, FICO, Alteryx, Oracle, Megaputer, Alpine Data Labs, Microsoft Access/Excel, InfoCentricity, Actuate, ….
www2.acams.org/webinars
Emerging standards around Data Analytics
• Are there any or is it the wild west of Data Analytics?
www2.acams.org/webinars
• Now What do you Do with It ?
– Monitoring
• Surveillance/Monitoring
• Ad Hoc
www2.acams.org/webinars
• Now What do you Do with It ?
– Investigations
• Enriching investigations processes – In house efforts
• What about “Big Data”?– How to utilize the information to assist your FIU?
www2.acams.org/webinars
• What About Emerging Criminal Patterns?
Totally different game
• Staffing–Data Analytics–AML Professional–Researcher
• Training–At least two training tracks
www2.acams.org/webinars
•What About Emerging Criminal Patterns?
– Leveraging Financial Institution Data Analytics
• SARS
• Beyond SARs-Effective Law Enforcement Feedback
www2.acams.org/webinars
•What About Emerging Criminal Patterns? – Examples
• Social Media on Customer Trends
• Pizza shop or gas station example– How to utilize your tools to find the golden nuggets?
– How to get the information to the FIU?
www2.acams.org/webinars
ACAMS Today March-May 2012
www2.acams.org/webinars
What/Who is the END GAME? Law Enforcement
Regulator
Management
Other?
Why am I doing this?
www2.acams.org/webinars
What does success look like?
Arrests/Indictments
Better identifying suspicious accounts
Save the World
www2.acams.org/webinars
– Emerging Patterns
• Marijuana
selling is not commensurate with electric bill or water bill for hydroponic cultivator;
are we being willfully blind to what is being paid? Go back to the KYC data – enrich where appropriate…..
“Know your Marijuana Industry”
www2.acams.org/webinars
– Emerging Patterns
• Bit Coin – how do you use data to identify transactors?
• Analytical power of “trackable” currency.
www2.acams.org/webinars
Guardrails on Regulatory Expectations
When “Gatekeeper” collides with “Big Data”
Are FI’s responsible for surveying open source data for the benefit of the government?
Are FI’s responsible for surveying government data for the benefit of the government?
www2.acams.org/webinars
www2.acams.org/webinars
If you have additional questions for today’s experts,or
suggestions for future web seminars,
please send those to:
Thank you for joining us today!
27
www2.acams.org/webinars
Future Web SeminarsNOV 12 – Case Study: Western Express: An Exposé of Digital Crimes
Investment AdvisorsLevel: AllNoon to 2:00pm EDT
NOV 19 – Improving Audit Testing of Anti-Bribery and Corruption FunctionsLevel: Basic/Intermediate Noon to 2:00pm EDT
NOV 20 – Changing the AML game – from reporting to rejecting suspicions?Level: All Noon to 2:00pm EDT