AML TALLINN 2024
NORDIC-BALTIC AML CONFERENCE 2024
"The ADVENTURE of the EU AML Package. "
5th Anniversary Conference
19.–20. NOVEMBER
EU AML Package – A New Chapter in Combating Financial Crimes - marks a significant shift in the fight against money laundering and terrorism financing within the European Union. Initiated by the European Commission in July 2021, this ambitious legislative package was officially adopted by the European Council and published in the EU's Official Journal on June 19, 2024.
The package introduces comprehensive measures aimed at enhancing the detection of suspicious financial activities, addressing technological advancements, and closing regulatory gaps that have been exploited by criminals. It includes several key legal acts, such as AMLD 6, AMLR, and AMLA-R, which will reshape the regulatory landscape across the EU, with implementation deadlines extending into 2029.
Let's reflect on and analyze the journey we've taken so far in this adventure, and then look ahead to the exciting and new developments that await us — topics we'll also be discussing at the conference!
19. November 2024
Morning Coffee and Networking
Opening remarks by the moderator of conference
Welcome speech by Ministry of Finance of Estonia
9:15 - 10:15
Session I: THE EUROPEAN LEGISLATOR’S NEW AMBITIOUS AML/CFT PACKAGE
Keynote Speech by European Comission:
Topics:
New Ambitious Legislative Initiative Marking a Paradigm Shift in Combating ML/TF.
Major Regulatory Framework Updates from the European Commission.
Address the remaining challenges and opportunities for cooperation between national authorities and EUbodies in ensuring effective enforcement.
Strategic AML Policy debate:
"Navigating the Future of AML/CTF Space: Strategies, Challenges, and Opportunities "
Objectives of the Debate:
Explore the implications of the new EU-wide harmonized AML rules.
Assess how these measures strengthen the fight against financial crime and terrorism. Discuss the impact on member states and national systems in combating fraud and organized crime.
Will stricter AML rules strengthen the EU's unified fight against ML and TF financing - or is more / less needed?
Do we see a risk of overregulation, and in which aspects?
Update regulatory framework to address technological innovations, integrated financial flows, and global terrorist threats.
Session II: STRENGTHING RISK ASSESSMENT FRAMEWORKS: SUPERNATIONAL AND NATIONAL PERSPEKTIVES
Keynote Presentation:
"EC's Supranational Risk Assessment: Mapping Vulnerabilities and Mitigating Risks "
Topics:
Overview of the Annual Supranational Risk Assessment Report:
Importance of the report in identifying vulnerabilities in financial products and services. Key findings and trends in money laundering and terrorist financing risks across the EU.
Understanding the Role of Risk Analysis in Mitigation Strategies:
How the risk analysis serves as a vital tool for Member States and obligated entities. Recommendations provided to enhance compliance and security.
Collaboration Between Supranational and National Authorities:
Strategies for effective cooperation between the European Supervisory Authorities and national regulators. Sharing best practices and lessons learned from national risk assessments.
Implementing Recommendations at the National Level:
How Member States can effectively apply the insights from the supranational assessment to their own risk assessments. Case studies of successful implementation of recommendations.
Future Challenges and Directions in Risk Assessment:
Emerging threats and trends in financial crime that require adaptive risk assessment approaches. The evolving role of technology and data analytics in enhancing risk assessment processes.
Open Panel discussions:
"Opportunities for Improving PPP Cooperation Between Market Players and Authorities in the NRA Process "
Discussion Points:
Understanding the Current Landscape of PPP Cooperation:
Overview of existing public-private partnerships in the Risk Assessment Processes. Assessment of current challenges and barriers to effective collaboration.
Identifying Opportunities for Enhanced Cooperation:
Exploring innovative models of cooperation between market participants and regulatory authorities. Discussing successful case studies that illustrate effective PPP initiatives:
Role of Technology in Strengthening Partnerships:
How technology can facilitate better communication and information sharing between stakeholders. The impact of data analytics on improving risk assessment and compliance.
Best Practices for Engagement and Collaboration:
Strategies for fostering trust and transparency between public and private sectors. Recommendations for establishing formalized frameworks for cooperation, and Future Directions in PPP Regulation.
Anticipating changes in the regulatory landscape and their impact on PPP.
Discussing the role of industry associations and forums in promoting collaboration.
Open Floor for Questions and Contributions:
Inviting insights and experiences from panellist’s and audience members regarding effective PPP practices.
Coffee Break and Networking
Session III: STRIKING THE BALANCE BETWEEN REGULATION AND INNOVATION
Keynote presentation:
Open panel discussions:
"Harnessing New Technologies for Enhanced AML/CFT: Opportunities and Challenges "
Topics:
Fostering Responsible Innovation:
Create a collaborative environment between government and the private sector to support innovations that enhance AML/CFT effectiveness.
Balancing Innovation with Privacy:
Ensure that privacy and data protection measures are integral when implementing new technologies in the AML/CFT space.
Promoting Financial Inclusion:
Encourage innovations in AML/CFT that are designed to support and promote financial inclusion.
Flexible Regulatory Frameworks:
Develop and communicate regulatory policies that are flexible, technology-neutral, and outcomes-based, aligning with a risk-based approach to innovation.
Informed Oversight and Cooperation: Exercise informed oversight of new technologies and promote cooperation among stakeholders to enhance collective AML/CFT efforts.
How AI helps Market Players stay ahead of evolving financial crime tactics, closing critical gaps in ML/TF prevention.
Lunch break and networking
Session IV: TIPS TO PREPARE FOR AML/CFT FOR 6TH ROUND OF EVALUATIONS
MONEYVAL Keynote Presentation:
"MONEYVAL's New Strategic Approach – General Principles and Rules for Evaluations "
Topics:
MONEYVAL’s mission, vision and approach
The six Strategic Pillars
MONEYVAL’s role in the Global Network
General principles and rules – scope, principles and objectives:
Changes in the FATF Standards
Scheduling mutual evaluations
Procedures for conducting assessments in the supra-national context
Open panel discussions
" Right Strategy and Action Plan for Preparing a Successful Evaluation "
Topics:
Roles and responsibilities of the assessed member, and assessment team:
Composition of assessment teams, trainings, and selection of participants
Preparation for the on-site visit
Joint mutual evaluations with the FATF
Follow-up processes
Coffee break and energy pause
Session V: SECURING THE CRYPTO SPACE FOR LEGITIMATE PLAYERS
Supervisor Keynote presentation:
"Strengthening AML/CFT Standards – Enhancing Compliance and Reinforcing Frameworks in the Crypto Ecosystem "
Topics:
Worldwide and EU AML/CFT Reforms for the Crypto Sector
Overview of proposed regulatory changes for virtual assets
EU-wide limit on large cash payments and the ban on anonymous crypto-asset wallets Revisions to the Transfer of Funds Regulation
The new Regulation on the Traceability of Transfers of Funds (TFR) ensures the traceability of crypto-asset transfers and the authentication of users, aligning with FATF standards.
Open panel discussions:
"Are Regulators and the Crypto Sector Ready for the Upcoming Challenges "
Topics:
Impact of Proposed AML/CFT Rules on Crypto Assets
Challenges and opportunities for market participants: How will the crypto sector adapt, and what will be the impact on regulators?
Practical implications for MLROs and compliance teams
End of Conference Day 1
20. November 2024
Morning Coffee and Networking
Session V: GETTING READY FOR NEW EU AML AUTHORITY (AMLA)
EBA Keynote Speech:
"EBA’s Contribution to the AMLA and New AML/CFT Regime "
Topics:
EBA's Strategic Objectives on AML/CFT: Leadership, Coordination, and Monitoring
Role of EBA in Supporting AMLA Implementation
Integration of EBA’s Strategies with the New AML/CFT Framework
EBA’s Oversight and Coordination Functions
Panel discussions:
"AMLA’S Key Tasks, Functions, and Enforcement Architecture "
Topics:
Key Provisions of the AMLA Regulation:
Legal Basis, Governance, Independence, Accountability, and Competences.
Direct Supervision:
Oversee high-risk financial entities, ensuring AML/CFT compliance and imposing sanctions.
Coordination and Oversight:
Harmonize national AML/CFT efforts, conduct cross-border reviews, and facilitate joint analyses.
Non-Financial Sector Oversight:
Review supervisory standards, investigate breaches, and assist national supervisors.
Support FIUs:
Aid FIUs with joint analyses and develop tools for data analysis and secure information sharing.
General Powers:
Establish a central AML/CFT database, develop standards, and issue guidelines and recommendations.
Keynote Presentation:
"Latvia's First Experience and Insights from the MONEYVAL 6th Round of Evaluations "
Topics:
Navigating the 6th Round: Lessons from Latvia’s Evaluation
Leveraging Insights and Experiences from Previous Assessments
Comprehensive Preparation Timeline for the Mutual Evaluation Process
Tips for Understanding the Updated FATF and MONEYVAL Standards and Procedures
Session VI: THE NEW SINGLE EU RULEBOOK FOR AML/CFT
Keynote:
"Key Changes in the EU’s New AML/CFT Framework "
Open Panel Discussion:
"Unveiling the AMLR & AMLD6: A New Era in Combating ML and TF "
Topics:
Overview of AMLR and AMLD6:
Introduction to the newly adopted EU regulations and their objectives. Transition from Directives to a Regulation: the rationale for harmonization across Member States.
Key Provisions of AMLR:
Expansion of obliged entities: inclusion of CASPs, crowdfunding platforms, and virtual IBANs. New limits on cash payments and enhanced due diligence obligations. Strengthened transparency on beneficial ownership and central registers.
Impact on Financial Sector and National Supervisors:
EU-wide application of AML rules: implications for financial institutions. Compliance with new customer due diligence and beneficial ownership rules. The role of national supervisors in implementing and enforcing the new framework.
Future Challenges and Opportunities:
Addressing emerging risks from virtual currencies and high-risk transactions. How the new regulations will shape the financial landscape and cooperation between national and EU bodies.
Coffee Break and Networking
Session VI: PARTNERING (PPP) IN THE FIGHT AGAINST ML/TF, AND FINANCIAL CRIME
Keynote presentation:
Open panel discussions:
"How Can Better PPP Cooperation Between Regulators, Market Participants, and Authorities Enhance AML/CFT Efforts? "
End of Conference Day 2
* The organisers reserve the right to make any necessary changes to the programme
Speakers are adding up. Stay tuned!
Kadri KIISEL
Chairman of the Council of Estonian Banking Association, Chairman of the Management Board of LHV Pank
Uldis CĒRPS
CEO of the Finance LatAssociation
Faisal ISLAM
CEO of Complytek
Kilvar KESSLER
Chairman of the Board of Finantsinspektsioon, Estonian FSA
Mari-Liis KUKK
Head of Innovation Department at Finantsinspektsioon, Estonian FSA
Matis MÄEKER
Head of Estonian FIU
Toms PLATACIS
Head of Financial Intelligence Unit of Latvia
Marilin PIKARO
Director of Innovation, Conduct and Consumers Department of the European Banking Authority
Veronika METS
Senior Administrator from MONEYVAL Secretariat
Rainer OSANIK
Head of Financial Information and Intelligence Police Department
Liisi METS
Head of AML Department at Estonian FSA
Golden sponsor
Prices
Prices until 31th of October, 2024:
2-Day's Auditorium Ticket €499 + VAT (if applicable)
1-Day Auditorium Ticket €329 + VAT (if applicable)
2-Day's Web Ticket €249 + VAT (if applicable)
1-Day Web Ticket €199 + VAT (if applicable)
NB! Multiple participants from one payment company are eligible for a 10% discount!
Registration form
Please fill the online Registration form here:
NB! Please add your form of participation in the last section of the form: