Hugh Jones, President and CEO of Accuity will be delivering the Opening Keynote Address on “The increasing challenges of Trade Based Money Laundering’s impact on Trade Finance”.
Trade based money laundering is increasingly becoming a concern for regulators around the world as the volume of trade increases. Criminals recognize trade as an attractive means of laundering money, as an alternative to conventional money laundering techniques. There are however opportunities for banks to implement effective money laundering controls while also ensuring continued growth of their trade finance departments.
Date: 11th October, 2015 (Sunday)
Time: 8:00am – 12.10pm (breakfast and lunch will be served)
Venue: Suntec Singapore Convention & Exhibition Centre
The BAFT Global Councils Forum brings the financial community and its partners and providers together to exchange thought leadership, collaborate on developing best practices, and share ideas that contribute to the safety and soundness of the global financial system.
Hugh’s speech will cover the following areas:
|♦||Why the amount of money laundering tied to trade is increasing?|
|♦||Increasing complexity of identifying dual use goods.|
|♦||Why regulators are increasingly focusing on trade based money laundering?|
|♦||Processes that need to be put in place to manage operational impact of trade based money laundering.|
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BAFT, the leading global financial services association for international transaction banking, helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance. The association website is www.baft.org.
About Hugh Jones:
Hugh Jones is President and CEO of Accuity, having joined RBI in 2011 as part of RBI’s acquisition of Accuity and NRS and integration with Bankers Almanac. His portfolio now includes FircoSoft since the RELX Group PLC acquisition in 2014. Prior to joining Accuity, Mr. Jones spent more than 15 years providing rich data streams to solve difficult business challenges. He was involved in building IntrinsiQ Research into a leading information management company in the oncology market, before moving to private equity firm Accel-KRR. He has also held executive positions at Deloitte Consulting and Datamonitor. Mr. Jones holds an MBA from the University of Michigan and a BA from Yale.
Owned by one of the world’s leading business-to-business data and content providers, Reed Business Information, and part of RELX Group, Accuity has been providing solutions to banks and businesses worldwide for over 175 years. Accuity’s unmatched data and services, powered by Bankers Almanac, deliver optimal payment efficiency, compliant transactions, bank counterparty insight and AML success.
Fircosoft is the market leader of watch list filtering solutions and is also part of the RELX group. 8 of the world’s top 10 financial institutions rely on Fircosoft to filter transactions and customers against sanctions and politically exposed persons lists to ensure compliance with regulations on terrorist finance, embargoes and FATCA, and meet Know Your Customer and customer due diligence requirements.