What Happened Last Year is Not What is Happening Now

by | Dec 22, 2021 | AML Compliance Conference, Fiba Blog

“We live in an evolving industry, so there are constant changes, and we need to be continually evolving and adapting to them,” said Harry Cupp, VP / FCB Risk Manager at Sunwest Bank and co-chair of the AML Compliance Committee at FIBA.

“What happened last year is not what is happening now, and while FinCEN has not yet issued the implementing regulations and compliance requirements for AMLA 2020, we need to start preparing our policies, procedures, and processes, so that when the final changes are made, we will be able to adapt quickly,” he added.

Considering AMLA 2020 and FinCEN’s notice of proposed rulemaking to modernize the AML regime, for Cupp, this is a key year, and “by the time of the AML conference there will be many changes and we need to be ready. We need to start preparing for what is coming and understand what these changes are”, the reason why he urges anyone in the BSA/AML and OFAC space to attend FIBA’s 2022 AML Compliance Conference.

In his opinion, the AML conference is one of the most important conferences in the US and Latin America, “a place where attendees can discuss and navigate trends and changes with expert speakers from industry, regulators, law firms, and consultancies.”

This year, the hybrid event will gather over 1,500 participants, from over 300 financial institutions. Some of the greatest relationships Harry has built have been through FIBA, so he highlights that sense of community as one of FIBA’s greatest assets: “what really sets us apart from the rest, is a strong community that shares ideas and helps make better practices… Risk is seen differently by different actors, and this collection of ideas is what helps all of us, as a community, come together and solve problems.”

He also highlights FIBA’s advocacy reach, and how, as an association, FIBA approaches regulators and “gets results! Regulation is a lot of times ambiguous so not everything is clear, and FIBA really advocates for the financial community. Besides providing content in both English and Spanish, which helps foreign organizations understand what is going on, offering training, education courses, and its community, FIBA can really make an impact on the regulations that get passed.” He concluded.

The premier Anti-Money Laundering Compliance Conference will take place between February 28th and March 2nd, 2022 in Miami.

Register now and enjoy early bird pricing!