Event Detail

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EVENT DETAIL

IL-CHECK FRAUD

The Anti-Money Laundering Association

Advocate for BSA/AML Professionals

CHICAGO IL Chapter Event

TOPIC: Check Fraud and Money Laundering

The United States Secret Service is one of the most elite law enforcement organizations in the world. Since its inception in 1865, the Secret Service has been involved in protecting the integrity of the nation's financial systems. This authority includes the investigation of financial institution fraud, access device fraud, computer crimes, fraudulent government and commercial securities, fictitious financial instruments, telecommunications fraud, false identification and identity theft.

Special Agent Erik Petkovic from the Chicago Field Office will share how he has brought down Check Fraud rings in Chicago, blown up buildings and knocked down doors to catch the bad guys! Special Agent Petkovic is no stranger to the world of counterfeit checks and money laundering tactics used by the criminals. Come learn first hand from someone who has taken down several counterfeit rings. By attending you will learn about counterfeit check rings, how to determine if an item is fake by learning how to identify security features, and money laundering tactics used by a Cuban credit card ring.

SPEAKER: Erik Petkovic, Special Agent United States Secret Service
Chicago Field Office

DATE: Monday, March 15, 2010

TIME: 9:00 am to 11:00 am CT

10:00 am to 12:00 am EST

LOCATION: UBS Tower, Michigan I Room, Second Floor, One North Wacker Drive, Chicago, IL 60606 www.mapquest.com/maps

COST: Non-AMLA first time participants FREE. $75.00 per person for non-members. Mail check payable to the Anti-Money Laundering Association, PO Box 577, Winter Park, FL 32790

Training Certificate: 2.0 hours of BSA/AML related training. Earn 1.0 point for ACAMS.

OFFISTE WEBINAR: Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/200815642

Visit about us at www.theamla.com to learn more about the association, call member services at 407-691-0100 or e-mail mary@theamla.com

Continental Breakfast and refreshments will be served. Sponsored by the AMLA.

Event Co-Sponsored by Crosscheck Compliance

Speaker Detail

Erik Petkovic, Special Agent United States Secret Service
Chicago Field Office

Meeting Agenda

Agenda

Midwest Chapter Event March 15, 2010

9:00 AM: Welcome and Announcements –Michelle Hemerley, Chapter President

9:05: Introduction and Speaker BIO - Erik Petkovic Special Agent United States Secret Service

9:06-10:35 AM: Presentation: By Erik Petkovic Topic: Check Fraud and Money Laundering

Articles of Interest and/or Regulatory Issues-Michelle Hemerley

1. Financial Crimes Enforcement Network (FinCEN)

· FinCEN Fiscal Year 2009 Annual Report released.

· FIN-2010-G001 Issued: March 5, 2010 Subject: Guidance on Obtaining and Retaining Beneficial Ownership Information

· March 5, 2010: FinCEN Clarifies Expectations Regarding Beneficial Ownership
Guidance Released in Conjunction with Financial Regulators

· FIN-2010-G005: Issued 12-10 and Amended 12-14-09: Guidance to assist users of the Bank Secrecy Act (BSA) E-Filing System in correcting errors in batch-filed Suspicious Activity Reports (SARs). Primary and secondary error codes.

· 2/26/2010 FinCEN Issues Notice of Proposed Rulemaking proposes to amend BSA regarding Report of Foreign Bank and Financial Accounts (FBAR).

· FIN-2010-A001 Issued: 2/18/2010 Subject: Advisory to Financial Institutions on Filing Suspicious Activity Reports regarding Trade-Based Money Laundering

· MSB List: As of February 10, 2010

· 2/5/2010: Final Rule 314a: FinCEN Regulation Improves Domestic and International Information Sharing to Thwart Money Laundering and Terrorist Finance

· FIN-2009-R003 Ruling Issued November 3, 2009. Customer Identification Program Rule - Address Confidentiality Programs

· FinCEN Issues Spanish-Language Educational Pamphlet on Currency Transaction Reporting (11/24/2009)

2. Enforcement or Other Regulatory Actions

· OFAC 2/5/2010: Balli Group PLC and Balli Aviation, Ltd. Settle Iranian Transaction Regulations and Export Administration Regulations Allegations: Balli Group PLC and Balli Aviation, Ltd. (collectively, “Balli”), London, UK have agreed to the assessment of a $15 million civil penalty to settle allegations of violations of the Iranian Transactions Regulations (the “ITR”) and the Export Administration Regulations (the “EAR”). Balli is settling the allegations pursuant to the terms of a Settlement Agreement among Balli, the U.S. Department of Commerce Bureau of Industry and Security (“BIS”), and OFAC.

· OFAC Compliance 12/22/2009: Lloyds TSB Bank, plc, Settles Allegations of Violations of the Iranian Transactions Regulations, the Sudanese Sanctions Regulations, and the now-repealed Libyan Sanctions Regulations. USD 217,000,000

· OFAC: 12/16/2009: Global settlement, Credit Suisse has agreed to pay an aggregate amount of USD 536,000,000. The Board of Governors of the Federal Reserve System has issued a consent Cease and Desist Order against Credit Suisse in connection with the case and is requiring the bank to implement an enhanced global regulatory compliance program.

· Cuban service provider list updated as of March 8, 2010

· OFAC Release: 2009 OFAC Annual Report-Assets in the United States of Terrorist Countries and International Terrorism Program Designees on March 1, 2010.

3. Reports/Fact Sheets

· 314(a) Facts and Figures (03/9/2010)

· Law Enforcement Information Sharing with the Financial Industry (03/9/2010)

· The SAR Activity Review-By the Numbers: January 2010

11:00 a.m. Adjournment