Location: Webinar
Date: Wednesday, October 6
Time: 1400 ET-1500 ET
Cost: Free
Type: See link for more information
Details: In 2020, Deutsche Bank agreed to pay $150 million in penalties for “significant compliance failures” in connection to accounts with Jeffrey Epstein and correspondent banking relationships with Danske Bank Estonia and FBME Bank. Despite existing risk indicators and red flags, including prior criminal convictions, Epstein was onboarded by Deutsche Bank, and his account maintained by the bank.
From a compliance perspective, this was preventable by all parties. Using the correct advanced technology to find negative news, these kinds of high-risk indicators are both identifiable and actionable. In this webinar, we will explore how to prevent these kinds of fines, improve compliance practices, and stop future Jeffrey Epsteins from taking advantage of your institution to engage in appalling criminal practices.