Addressing Policy Challenges in Financial Crime

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Schuman Associates as the secretariat of Anti-Money Laundering Europe together with the CFCS at RUSI organised a policy debate around the EU policy challenges that are currently being debated particularly around the amendments of the 4th Anti-Money Laundering Directive, renamed as the 5th AMLD.

 The event started with the expert speeches from MEP Judith Sargentini who shared the latest amendments which have been submitted in the European Parliament LIBE committee and from Mr Ashish Kumar, represented the Financial Action Taskforce (FATF) and shared a state of play of FATF activities and shared how they will be consulting the private sector around Fintech in 2017.

The event looked at some of the questions that this directive is still discussing including information sharing between various stakeholders, amongst FIUs, with the private sector etc. A second panel dealt with the future of Fintech within regulatory policy and how risks of money laundering and terrorist financing can be dealt with, while at the same time not restricting innovation.

The panellists:

Panel 1 - Information sharing to combat money laundering and terrorist financing

–Presentation by Max Braun, FIU.Net; Javier Doz Orrit, European Economic and Social Committee; Hans Van Hemelrijck (FIU BE)

Discussion and presentations to include:

.              Does the EU security union roadmap create new opportunities

 .              Impact and meaning of the 5th AML Directive

Panel 2 - Fintech as innovation in AML/CFT: from virtual currencies and blockchain to RegTech and moneyapps

– David Carlisle, (RUSI); Pēteris Zilgalvis, (DG CONNECT); Charlotte Branfield (Citigroup)

 Discussion and presentations to include:

.              What are the risks and opportunities associated to Fintech/RegTech?

.              How can regulatory challenges best be identified and addressed?

.              What role for industry?

For further information please check out the AME website

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