Learn about the different types of AML models in use, regulatory guidance, and how to independently validate them.
Having an effective Anti Money Laundering (AML) program is critical to all financial institutions. A key component of an effective AML program is the use of quantitative models to identify suspicious activity. However, the use of models inevitably introduces risk to an organization that can be addressed through an effective independent challenge program. This presentation will help you to understand the different types of AML models in use, regulatory guidance for such models, and how to independently validate them.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview
- Introduction to AML
- Regulatory Guidance Around AML
- Model Risk Guidance for AML (Including Recent Trends)
Anti-Money Laundering Models
- Commonly Used AML Models
- Expectations Around the Validation of AML Models
Transaction Monitoring Model Validation
- Overview of Transaction Monitoring Models
- Validation Steps for TM Models
- Typical Challenges With TM Model Validations
Name Screening Model Validation
- Overview of Name Screening Models
- Validation Steps for Name Screening Models
- Typical Challenges With Name Screening Model Validation
New and Emerging Models
- Blockchain Technology
- Challenges for Models in Use Within Blockchain Monitoring
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 21, 2023.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 63 Minutes.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Avinash Voruganti
Protiviti
- Director, Risk and Compliance Analytics, Protiviti
- Served as a joint practice leader for Risk & Compliance at Protiviti for South-East Asia
- Served multiple clients across North America and APAC, validated the AML/BSA models for multiple top Financial Institutions
- Experienced with new and emerging technologies, including blockchain, automation, and machine learning (ML)
- CAMS Certified
- Master’s degree in transportation engineering, The University of Texas at Austin
- Can be contacted at [email protected] or 650-422-1949
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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