Protecting members’ funds from financial crime
We decided to hold the February Luncheon Briefing virtually as we felt this was the most suitable option given the constantly changing COVID environment. The live webcast was held on Tuesday 8th February at 12.30pm (AEDT).
The Australian financial sector is facing evolving and increasingly complex financial crime threats. As a result of the COVID-19 pandemic, criminals are seeking new ways to exploit financial products and services to launder the proceeds of crime and undertake fraud by capitalising on the anxieties and fears of victims. For funds, this presents an opportunity to review and enhance their financial crime risk management frameworks to protect member funds and effectively manage regulatory risk.
A discussion on the evolving financial crime risks with a focus on fraud and anti-money laundering, was held during the live webcast. Opportunities were considered for super funds to design and implement controls that are fit-for-purpose given the risks presented. It was brought to life through case studies and a discussion of topical issues in the market.
FEAL February Luncheon Briefing guest speakers
Natalie Faulkner, Partner, Risk Consulting, KPMG Australia
Natalie is a Fellow Chartered Accountant with the Institute of Chartered Accountants in England and Wales (ICAEW) and Partner with KPMG Australia. Natalie’s core expertise is to assist clients in complex and sensitive situations, be it in product remediation, fraud or forensic accounting investigations. Natalie has assisted clients to respond to government agencies post regulatory breaches, fraud investigations and unreconciled accounts including ASIC, ATO, ASX, RBA, the Australian Mint and the ICAC.
Sue Bradford, Partner, Forensic, KPMG Australia
Sue has an in-depth knowledge of financial crime compliance (FCC) with over 16 years experience in Australia, London, New York and Asia. Sue specialises in delivering robust, fit for regulatory purpose and pragmatic Financial Crimes Compliance global programs, KYC/CDD, transaction monitoring, data remediations and transformations. Sue has worked in industry and globally, with regulators and financial institutions to deliver regulatory risk buy down, transformation in AML, IFTI and TTR technology, data mapping, management and remediation of KYC/CDD data, controls, processes and technology.
Timothy Goodrick, Director, Forensic, KPMG Australia
Tim has an in-depth knowledge of anti-money laundering and counter-terrorism financing (AML/CTF) issues having worked in this field since 2006 in Australia and internationally. This includes experience from all sides of AML/CTF including international regulatory bodies and consulting to financial institutions. He has an in-depth understanding of the challenges facing reporting entities having worked closely with the private sector to develop AML/CTF policy and procedures. He has advised key international AML/CTF bodies including the FATF, United Nations, and regional bodies.
Ben Meager, Director, KPMG Australia
Ben has over 12 years’ experience in providing a range of services for KPMG clients. Ben is experienced in assisting financial services providers with their AML/CTF and Sanctions compliance obligations through the review and implementation of AML and Sanctions programs and developing and facilitating of ML/TF risk assessments
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