Beneficial owners & ENABLERS: What you need to know about the shifting AML regulatory picture

COMPLIMENTARY WEBINAR

Date: Tuesday, 14th February 2023

Time: 1:00 PM ET

Hosted by Thomson Reuters

The regulatory climate around Anti-Money Laundering is shifting rapidly, with new major rules both already rolling out and working through Congress. In this 1-hour webinar, our panel of industry experts will discuss both the new FinCen Beneficial Owner rule, expected to take effect later in 2023, and the ENABLERS Act, which is likely to pass in 2023 as well.

You will learn:

How the new beneficial owner rule differs from previous standards
What types of individuals are exempted from being “beneficial owners”
Who would have to comply and file under the ENABLERS Act
Best practices for incorporating these rule changes into your AML workflows
And more

Moderator:

Rabihah S. Butler, Manager, Enterprise Content - Risk, Fraud, and Government, Thomson Reuters Institute

Panelists:

Dennis Lormel, Founder and President, DML Associates

Jim Richards, Principal, RegTech Consulting LLC

Daniel Robinson, Bank of America

Brett Wolf, Senior Financial Crime Correspondent, Thomson Reuters Regulatory Intelligence

Email Address*

Biographies:

Rabihah S. Butler, Manager, Enterprise Content - Risk, Fraud, and Government, Thomson Reuters Institute

Rabihah S. Butler, Esq., is Manager of the Corporate Risk and Government Investigative enterprise content platform for Thomson Reuters. Rabihah works on solutions to some of the world’s most pressing fraud issues including anti-money laundering (AML), e-commerce fraud, and healthcare fraud, in addition to risk and regulatory compliance. She previously was a Senior Business Execution Consultant for Wells Fargo. Rabihah received her JD from American University – Washington College of Law and is admitted to the bar in Maryland and the District of Columbia.

Dennis Lormel, Founder and President, DML Associates

Dennis M. Lormel has 50 years of distinguished professional experience fighting fraud, money laundering, terrorist financing and related challenges. He spent 31 years in federal government service, 28 of which were as an FBI Special Agent. For the past 19 years, he has been a private sector consultant.

Mr. Lormel is the founder and President of DML Associates, LLC. He provides risk advisory consulting services and training related to terrorist financing, money laundering, fraud, financial crimes, corruption and related compliance considerations. Mr. Lormel is the current President of the Society of Former FBI Special Agents. He is also a member of the Association of Certified Anti-Money Specialists (ACAMS) Advisory Board and a Distinguished Lecturer, in the Master of Arts Program, for Financial Integrity, at Case Western Reserve University, as well as a guest lecturer at prominent universities.

In his illustrious career in the FBI, Mr. Lormel amassed extensive major case experience as a street agent, supervisor and senior executive. As Chief of the Financial Crimes Program, following the terrorist attacks of 9/11, he established and led the elite Terrorist Financing Operations Section. For his visionary contributions in planning progressive investigative methodologies, Mr. Lormel received the U.S. Department of Justice Award for Investigative Initiative and the George H. W. Bush Award for Excellence in Counterterrorism, from the Central Intelligence Agency.

In his post FBI career, among numerous volunteer activities, Mr Lormel served as an Advisor to the Congressional Anti-Terrorist Financing Task Force and as a Board member for the West Coast AML Forum. He also served as the longtime Chair for the ACAMS National Capital Chapter.

Jim Richards, Principal, RegTech Consulting LLC

Jim Richards is the principal and founder of RegTech Consulting LLC, focused on providing strategic advice on all aspects of financial crimes risk management to AML software providers, financial technology start-ups, mid-size banks, and fintechs. Mr. Richards is also a Senior Advisor to Verafin Inc., the leading provider of fraud detection and BSA/AML collaboration software for financial institutions in North America.

From 2005 through April 2018 Mr. Richards served as the BSA Officer and Director of Global Financial Crimes Risk Management for Wells Fargo & Co. As BSA officer, he was responsible for governance, training, and program oversight for BSA, anti-money laundering (AML), and sanctions for Wells Fargo’s global operations. As Director of Global Financial Crimes Risk Management, he was responsible for BSA, AML, counter-terrorist financing (CTF), external fraud, internal fraud and misconduct, the identity theft prevention program, global sanctions, financial crimes analytics, and high-risk customer due diligence.

Prior to his role with Wells Fargo, Mr. Richards was the AML operations executive at Bank of America. Prior to his 20-year career in banking, Mr. Richards was a prosecutor in Massachusetts, a barrister in Ontario, Canada, and a Special Constable with the Royal Canadian Mounted Police. He is the author of “Transnational Criminal Organizations, Cybercrime, and Money Laundering.” Mr. Richards has a Bachelor of Commerce (B.Comm.) degree and Juris Doctorate from the University of British Columbia.

Daniel Robinson, Bank of America

Daniel Robinson is a North Carolina licensed attorney, University of South Carolina alumni and Program Oversight and Design expert in the banking industry. Daniel has worked for some of the largest Financial Institutions, designing and providing oversight over KYC onboarding and transaction monitoring across various aspects of the industry. He specializes in ensuring systems are quality tested and audit proofed in the areas of AML, Sanctions Monitoring and Beneficial Ownership.

Brett Wolf, Senior Financial Crime Correspondent, Thomson Reuters Regulatory Intelligence

Brett joined Thomson Reuters in 2006, with a background covering money laundering for a Miami-based newsletter and website. Brett has also partnered with the Reuters news file. An investigative series he co-authored on the role of a multinational bank in laundering hundreds of millions of dollars for Mexican and Colombian drug cartels helped Reuters win the General Excellence award from the Society of American Business Editors and Writers.