BSA/AML Model Evolution in a Rapidly Changing World: How Recent Changes in Technology and Current Events Are Affecting Our BSA/AML Programs

Over recent years, our industry has gone through tumultuous changes that affect how we think about Bank Secrecy Act and Anti-Money Laundering models. From the technology side, the rise of machine learning models and cryptocurrency has required us to evolve how we analyze customer behavior.

From the current events side, the lingering impacts of COVID and the Russian invasion of Ukraine have increased the money laundering risks that our institutions face. Learn how financial institutions are adapting to these changes and updating their BSA/AML models to protect themselves in an ever-changing world with ever-changing risks.

Learning Objectives:

• Learn to effectively monitor and control machine learning models.
  

• Examine the impact of digital assets (cryptocurrency) on BSA/AML and sanctions programs.
  

• Analyze the evolution of BSA modeling and risk considerations after COVID.
  

• Review the consequences of the war in Europe and other recent events on money laundering risks.
  

Recorded Date: October 25, 2023