Financial crime does not respect borders. In an increasingly interconnected world, the harm done by fraud, money laundering, the financing of terrorism, and tax evasion is not confined to a single jurisdiction but occurs on a global basis, impacting the integrity and stability of the international financial system. Financial crime erodes trust in financial institutions and markets, in the rule of law, and in meritocracy. Inflows and outflows from financial crime can result in destabilizing hot money. Ineffective revenue collection, broad governance weaknesses, reputational risks for international financial centers, and loss of correspondent banking relationships may also result from financial crime. And if criminals can successfully introduce illicit proceeds into legitimate economies, it may create incentives for further criminal offences. The fight to combat financial crime, particularly money laundering, is global and high on the agenda of international and domestic policymakers and regulators.
The objective of the workshop is to provide an overview of the regulatory framework in South Africa and internationally for combating financial crime, particularly money laundering, in financial markets. The workshop will focus on the risk-based approach to identify, evaluate, manage, report, and monitor money laundering / terrorist financing risks.
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Agenda
9
00AM
-
3
30PM
Day 1
Ms. Ingrid GoodspeedFinancial crime types, definitions, and terminology
Financial crime and money laundering typologies and red flags
The importance of combating financial crime and money laundering
Guidelines for the implementation of international best practice / standards including the FATF recommendations
The facts and impact of greylisting
Implementation of the South African legislative framework for combatting financial crime including:
Outline of the Acts
The role players
The role, functions and powers of the Financial Intelligence Centre
The role, functions, and powers of supervisory bodies
The role of accountable institutions
Suspicious transactions reporting and ad-hoc investigations
The global response to tackling concealment of beneficial ownership of legal persons and legal arrangements
Key components of a financial crime risk management framework
Nature, implications, and methods of controlling the risk of financial crime and money laundering
Day 1
Financial crime types, definitions, and terminology Financial crime and money laundering typologies and red flags The importance of combating financial crime and money laundering Guidelines for the implementation of international best practice / standards including the FATF recommendations The facts and impact of greylisting Implementation of the South African legislative framework for combatting financial crime including: Outline of the Acts The role players The role, functions and powers of the Financial Intelligence Centre The role, functions, and powers of supervisory bodies The role of accountable institutions Suspicious transactions reporting and ad-hoc investigations The global response to tackling concealment of beneficial ownership of legal persons and legal arrangements Key components of a financial crime risk management framework Nature, implications, and methods of controlling the risk of financial crime and money laundering
Speakers
Ms. Ingrid Goodspeed
Independent ConsultantIngrid Goodspeed has over 30 years banking and financial market experience in the areas of risk management, compliance, investment analysis, treasury, economic research, internal audit, information technology and management information. And 6 years in South Africa’s National Treasury as a financial sector policymaker.
Ingrid is a Chartered Director (SA) and has an LLB, MBL (cum laude), BCom Honours (Economics) and BCom (Economics and Accounting) degrees from the University of South Africa. She is Fellow of the South African Institute of Financial Markets (SAIFM) and has served as a Governor on the board of the SAIFM for more than 10 years.
Ingrid has been training part-time for several years. She lectured risk management for University of Johannesburg’s Programme in Advanced Banking Law; risk management, investment theory and anti-money laundering for the South African Reserve Bank College; risk management for GIBS Business School and business economics and strategic and financial decision-making for De Montfort University’s MBA qualification, where she was also an MBA dissertation supervisor.
Ingrid has published a number of books and articles.
Speakers
Ms. Ingrid
Goodspeed
Independent Consultant
Ingrid Goodspeed has over 30 years banking and financial market experience in the areas of risk management, compliance, investment analysis, treasury, economic research, internal audit, information technology and management information. And 6 years in South Africa’s National Treasury as a financial sector policymaker.
Ingrid is a Chartered Director (SA) and has an LLB, MBL (cum laude), BCom Honours (Economics) and BCom (Economics and Accounting) degrees from the University of South Africa. She is Fellow of the South African Institute of Financial Markets (SAIFM) and has served as a Governor on the board of the SAIFM for more than 10 years.
Ingrid has been training part-time for several years. She lectured risk management for University of Johannesburg’s Programme in Advanced Banking Law; risk management, investment theory and anti-money laundering for the South African Reserve Bank College; risk management for GIBS Business School and business economics and strategic and financial decision-making for De Montfort University’s MBA qualification, where she was also an MBA dissertation supervisor.
Ingrid has published a number of books and articles.
