Correspondent Banking Under Pressure: Managing Money Laundering & Sanctions Risks
The purpose of this workshop is designed to address the unique AML risks in Correspondent Banking, where complex, cross border relationships create exposure to money laundering and sanctions evasion.
Participants will learn about the latest regulatory expectations, high risk typologies and red flags associated with nested relationships, shell companies and opaque payment chains. The session will explore how advanced technology and intelligent case handling can strengthen due diligence, monitoring and risk management in correspondent banking.
This workshop is designed for: Chief Compliance Officer (CCO), Chief Risk Officer (CRO), Chief Financial Crime Officer (CFCO), Head of Financial Crime Compliance/AML Compliance, Global Head of AML / Sanctions / Financial Crime, Head of KYC / CDD, MLRO, BSA / AML Officers, Risk Managers, AML / Financial Crime Investigators, Transaction Monitoring Analysts
Agenda:
Welcome & Framing (5 mins)
Purpose: How correspondent banking (CB) presents a challenge for firms in their approach to manage AML risk
Quick participant poll (TBC)
The Overview and Strategic Landscape (10 mins)
Overview of CB structures and vulnerabilities
Key money laundering and sanctions risks (nested accounts, shell companies)
Key CB typologies
Regulatory expectations (FATF, Basel, Wolfsberg).
Links to sanctions evasion, fraud, and terrorism finance.
Example (10 mins)
Example of a how financial institution may knowingly or unknowingly launder illicit funds
Potential red flags
Reflection on the real-world costs of failures in CB due diligence and screening (fines, reputational etc)
Looking Ahead – Solutions & Innovation (15 mins)
Practical mitigation: (CB Customer Due Diligence Questionnaire) CBCDDQ, training within firms and good transaction monitoring
The role of technology & AI in detection, efficiency, and false positive reduction.
Strategic discussion: what Tier 1 banks should prioritise to stay ahead.
Wrap Up & Key Takeaways (5 mins)
Practical steps decision-makers can act on immediately.
Closing reflection: protecting trade, reputation, and lives.
Hosted by
James Booth
Head Anti-Money Laundering, Counter Terrorism & Sanctions
Join Other Workshops
