Identity & Anti-Money-Laundering (AML) Processes

Identity & Anti-Money-Laundering (AML) Processes
Special Event

Decades on, fighting economic crime still means different things to different people. To some it’s fighting criminals, others terrorists, others tax evaders. To some financial institutions it’s a lovely barrier to entry, to challengers a minefield. To lawyers, accountants, and consultants, endless complexity. To technologists an opportunity, for consumers a disaster. In the UK, with Brexit looming, we need to answer, “if Britain is open for business, how easy is it to open a bank account, commission an accountant, or hire a lawyer?” Equally, with such onerous systems, how can people claim that London is a major money-laundering centre? Borderless Business Britain needs a smooth and strong infrastructure.

This evening, a distinguished panel will promote discussion on strengthening & simplifying anti-money laundering and know-your-customer processes. Tied in with this will be a discussion on the supporting role of identity systems. The Financial Services Club hopes that, by raising awareness of the issue, all those engaged in these processes, e.g. financial institutions, accountants, lawyers, regulators, academics, and enforcement officials are encouraged to improve them for everyone’s benefit. The venue could not be more iconic, the Great Hall at the Old Bailey.

Any funds raised in excess of the costs are being donated to the Sheriffs' & Recorder's Fund - founded in 1808, the Fund gives small grants to ex-prisoners and their families in London to help them stop offending and start a new life,