Daniel P. Stipano Discussed "Beneficial Ownership, Banker, Broker, Intelligence" at the Association of Certified Financial Crime Specialists Conference
The Association of Certified Financial Crime Specialists (ACFCS) 2017 Conference is a conference built for this new reality of financial crime detection and prevention.
It’s human nature to want to understand exactly just who we are doing business with, regardless of external rules and requirements. This is amplified, in that, we do live in an increasingly dangerous world that has required government rules and requirements to evolve and adjust as a result. Critical to staying ahead of due diligence, true beneficial ownership of an entity needs to be at the forefront of every risk based entity vetting and account opening/contract initiation process. And this goes far beyond internet searches. There are key questions to be asked; who really owns this entity, what are they doing, how are they doing it and does it all make sense?
This insightful panel discussed banking, intel and business insights and expanded the discussion into actually finding the bad apples.