Anti-money Laundering: Beyond The Banking Landscape

While many individuals associate AML primarily with banks, it is crucial to understand that money laundering can occur in various industries and sectors. During this session, we will explore the critical concepts and frameworks surrounding AML, emphasizing that its relevance extends far beyond the banking sector. We will also discuss the key regulatory requirements and frameworks designed to combat money laundering activities within Canada. This broader perspective will better foster a culture of AML compliance and vigilance that transcends industry boundaries.

REBECCA IP is part of KPMG Canada’s Forensic practice with over 19 years of experience and has worked in KPMG’s offices in London, England and Amstelveen, Netherlands. Through her engagements, Rebecca has acquired deep financial crimes SME across a number ofregulated industries (banks, credit unions, securities dealers, money services business, casinos and real estate companies). Rebecca assists companies identify and address financial crimes risks (AML & sanctions, ABC and fraud) to ensure appropriate controls are in place to mitigate them. Rebecca also evaluates end-to-end anti-financial crimes programs against regulatory requirements and industry practices to assess the effectiveness of the company’s anti-financial crimes compliance programs.

MIKE SUN is a Manager within KPMG’s Forensic & Financial Crime practice in Vancouver. Mike has over ten years of experience in financial crime compliance advisory, compliance examination and internal audit in large financial institutions and government regulatory agencies. These experiences have given him a strong understanding of money laundering & terrorist finance risk management, suspicious transaction monitoring and investigation, fraud risk management, examination and audit skills.