Agenda

AGENDA OVERVIEW



Day 1 Sunday 7th June 2009

Regional Regulation, Effective Risk Management and Catastrophic Fraud

Keynote addresses from high profile representatives of leading international and regional institutions, spotlighting the latest policies and frameworks designed to combat economically motivated serious crime, in particular Money Laundering and Terrorist Financing


08.00 SYMPOSIUM
WELCOME & KEYNOTE ADDRESSES

  • Mr Peter Antell, Managing Director of IFCCT
  • H.E. Sheikh Abdulla Saoud Al Thani, Governor of QCB (awaiting confirmation)
  • H.E. Mr. Yousef Hussain Kamal, Chairman QFMA and Minister of Finance. (awaiting confirmation)
  • Mr. Richard Collins, Managing Director, Authorisation and Regulatory Services, QFCRA
  • Qatar Central Bank, Financial Information Unit - Sheikh Ahmed Eid Al Thani
  • Dr Fouad Shaker, Secretary General, Union of Arab Banks


09.45  COFFEE BREAK

 

10.00 REGULATION & LEGISLATION IN THE MIDDLE EAST REGION

Session taken by Michael Webb, (Managing Director, QFCRA, Financial Sector Development and Policy)

  • Identifying systemic imbalances across the region
  • Learning Lessons from FATF Mutual Evaluation Assessments
  • Best practice in multi-jurisdictional operations
  • Regional cooperation
  • International benchmarks

11.00 DEBATE

Led by Gert Demmink, Managing Director Eagle Compliance:

LEARNING LESSONS FROM THE PAST

  • The 'Great Crash' of 1929: The remarkable parallels, the reasons and the responses
  • How profiteering can lead to regulatory erosion
  • How incentivising extreme risk-taking can compromise compliance and risk management

11.15 “THIS HOUSE BELIEVES THAT THE CURRENT GLOBAL CRISIS IS DUE TO A FAILURE OF REGULATORS & NOT THE MARKET” - PANEL session

Panellists from two teams, one in favour of the motion and the other against, will each be allocated 5 minutes to present their case prior to fielding questions from the audience. The Chairs shall summarize their team's respective positions whereupon the audience will decide whether to carry or reject the motion.  


12.15  LUNCH


13.30 INVESTIGATORS REPORT - CATASTROPHIC BANKING AND INVESTMENT FRAUD

Case studies:

  • The Invisible Man - Rogue trader Jérôme Kerviel and the humbling of Société Générale
  • The Ponzi schemes of Bernard Madoff and why clever and incisive people are still blinded by "The Emperor's New Clothes" syndrome and adhere to the herd instinct
  • The investment frauds of Sir Allen Stanford of Stanford International Bank - How and why were the many warning indicators common to all three cases missed or ignored?

What strategic, tactical and practical lessons can regulators, banks and investment houses take from the above?
 
This session will be taken by IFCCTs senior forensic investigator Mr. Edward Wilding. Mr. Wilding will analyse each case in minute detail, examining the mechanisms and evolution of each fraud, the methods of detection and prosecution and the control failures that allowed each to flourish.


15.00 AFTERNOON TEA


15.15 PRACTICAL APPLICATION OF CORPORATE GOVERNANCE GUIDELINES THROUGHOUT THE REGION 

  • Regional Codes of Conduct for effective Corporate Governance
  • Benefits of improved corporate governanc
  • Key roles of the board and committees

    • Analysing recommendations from the following organizations and how they can be effectively implemented in your own organization?
    - QFMA
    - Hawkamah
    -     Oman     CMA

    • What has been the impact of the financial crisis on Corporate Governance requirements and what are the latest recomendations for effective regulation in the GCC region.



Day 2 Monday 8th June 2009

COMPLIANCE AND RISK MANAGEMENT

A FRESH LOOK AT THE LATEST THREATS AND VULNERABILITIES AFFECTING ORGANISATIONS IN THE MENA REGION


08.00  SANCTIONS  - CLARIFYING PERTINENT DIFFICULTIES


08.30 COMBATTING SOPHISTICATED MONEY LAUNDERING TECHNIQUES

  • Trade Based Finance
  • Real Estate
  • Charities
  • VAT Carousel Fraud
  • Cyber laundering
  • Money laundering using remote banking channels
  • Challenges Dealing with ML in cash based economies
  • International Legislation vs. Domestic Culture

10.00 MORNING COFFEE


10.15 FRAUD CORRUPTION AND MONEY LAUNDERING IN CONSTRUCTION


11.00 TERRORISM FINANCING – CASE STUDY REVIEW – FUNDING OF THE MUMBAI ATTACKS


11.30 MIDDLE EAST FRAUD TYPOLOGIES – HOW AND WHY HAVE ORGANISATIONS IN THE REGION BEEN BREACHED AND WHAT LESSONS CAN BE LEARNT?

  • Shell companies
  • Brokerages
  • Companies headed by politically exposed persons (PEPs)
  • Detecting Ponzi schemes – High returns when competitor analysis shows otherwise
  • Insider trading, conflicts of interest and Chinese Walls
  • Reputational Management following a breach


12.15 LUNCH



13.30  PARTICIPANTS TO BE SPLIT INTO TWO SEPARATE STREAMS:


STREAM A - WORKSHOP
PRACTICAL, EFFECTIVE AND VALUE ADDED COMPLIANCE & KYC 

  • Ensuring effective due diligence in cash-based economies
  • How to develop your AML/CFT framework and embed it into your operational procedures
  • How to construct a solid AML policy for your banks website in accordance with Wolfsburg recommendations
  • Creating an effective employee handbook - How to implement AML guidelines for new recruits and ensure employees clearly understand their responsibilities
  • Preparation for Regulatory Examinations
  • Due diligence in an international environment
    - Enhanced DD with multi-jurisdictional regulatory requirements
    - What are the difficulties?
    - How can you ensure effective cross agency cooperation?


STREAM B - CONDUCTING A FRAUD INVESTIGATION

  • Investigation principles and planning
  • How to implement fraud risk management program
  • Chain of command and coordination - The incident response team
  • Covert Investigations
  • Liaising with external agencies
  • What to do when the supervisors / investigators step in?
  • Proving your cases, demonstrating adequate (reasonable) measures, consent implementation
  • Are our policies effective?
  • Secure exit procedures when employees are suspended or dismissed

  

Day 3 Tuesday 9th June 2009

REPUTATION, SECURITY & TECHNOLOGY
 

08.00  INFORMATION SECURITY & INFORMATION TECHNOLOGY

  • How, why and where are you at risk after restructuring and redundancies
  • Employee termination procedures
  • Electronic disclosure, Information and security access – maintaining control of security codes and passwords
  • Tracking data sharing
  • The latest internal and external methods used to fraudulently obtain corporate information and the checks and prevention measures needed
  • Password protocols and coordinating investigative efforts to best effect
  • Minimising the “human error” factor through clear, thorough and visible corporate policy and training


10.00  MORNING COFFEE



10.15  EMERGING TECHNOLOGIES

  • How new technologies can provide greater security but also increase risk
  • E-Banking review
  • M-Banking review


11.15  WORKSHOP -


12.15  LUNCH


13.30 QFCRA hosted Panel - ACHIEVING AN ORGANISATION WIDE COMPLIANCE CULTURE AND GAINING BOARDROOM SUPPORT

  • Changing Management's perception of the role of Financial Crime/AML and Risk departments in order to secure appropriate support and funding
  • Designating effective boardroom roles
  • Dashboard reporting to ensure accessible data
  • Developing an ethical culture throughout your organisation to combat financial crime
  • How to get senior management bye-in at the time of formulating compliance policy and on-going partnership with business

14.30 AFTERNOON TEA


14.45  DEBATE – THE VALUE OF AUDIT

The motion is “This house believes that audit is misleading”. During this session the audience will listen to arguments for and against the motion. Two teams of panellists will present their case prior to fielding questions from the audience. The motion will be put to the vote based on the arguments presented.

SUMMARY AND CLOSE

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