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Description: Financial crime is a constant whatever the era but in times of crisis criminals become even more creative. Coronavirus ‘cures’, PPEs, testing and vaccines all present attractive opportunities for fraudsters to take advantage of our collective anxiety by selling fakery. Ponzi schemes, a ubiquitous phenomenon, often come to light in times of financial crisis since old investors demand redemption and new investors are hard for fraudsters to find. Finally, in the pandemic, trade-based money laundering, another common criminal scheme, can be used to greater effect due to price gyrations and scarcity in previously available goods and commodities.
Learning Objectives:
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Distinctions between and among different types of fraud, money laundering and other financial crime;
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How to recognize commonly used financial crime schemes;
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Why red flags are crucial to legal practitioners in banking, securities, contract, M&A, and consumer fields;
Topics are targeted to attorneys in the regulatory, compliance, litigation and criminal defense (particularly white collar defense).
Presenter Bios
Ross S. Delston is an independent American attorney, expert witness, Certified Anti-Money Laundering Specialist (CAMS), and former U.S. banking regulator (FDIC) who has specialized in Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) issues for over 20 years. Ross has participated in the monitorships for two financial institutions, AIG and BNP Paribas, and has been a consultant to the IMF on AML/CFT and banking matters since 1997. On behalf of the IMF, he has participated in nine AML/CFT assessments of offshore financial centers, including Jersey, Guernsey, Isle of Man, Bermuda, and St. Vincent. Ross has also been an expert witness in 15 civil cases, including on behalf of the U.S. Attorney’s Office (SDNY) in U.S. v. Prevezon, a civil forfeiture action involving the proceeds of a massive Russian fraud.
Ross has drafted trade finance policies and procedures to address TBML risks for a major multinational bank and conducted training on the new policies and procedures. He has
co-authored two law review articles on TBML: “Strengthening Our Security: A New International Standard on TBML is Needed Now” (2012) and “Reaching Beyond Banks: How to Target TBML and Terrorist Financing Outside the Financial Sector” (2009). Ross started his career at the U.S. Export-Import Bank (1976-86).
Ross has been quoted on AML/CFT and banking issues in the New York Times, Washington Post, Wall Street Journal, New Yorker, the American Banker, Bloomberg, ICIJ, OCCRP, the Times of London, the Nikkei (Japan) and the Hindu Business Line (India). He has lectured and conducted training on AML and banking topics at the U.S. Financial Crimes Enforcement Network (FinCEN); the Peoples Bank of China (central bank) in Dalian on behalf of the IMF; the Reserve Bank of India’s Staff College in Chennai; for U.S. bank examiners at the 2016 FFIEC Advanced BSA/AML Specialists Conference; and at conferences and seminars throughout the world.
Timothy Dunfey began is banking career as a teller with First Union Bank of Florida in 1994 then expanded his industry and product knowledge with positions at American Express and Morgan Stanley. After graduating from St. Thomas University Law School in 2006 he accepted the position of Deputy BSA Officer at Great Florida Bank.
 | | Practice Areas: | | Banking & Finance Law | | | Online Media Type: | | Audio | | | Production Date: | | 01/26/2021 12:00 PM EST | | | Level: | | Intermediate | | | Category: | | Standard | | | Duration: | | 1 Hours, 0 Minutes | | | Online Format: | | Live | | | Course Type: | | Public |
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| | • | Ross Delston, Esq. - Ross S. Delston, CAMS | | • | Timothy Dunfey, Esq. - Alhambra Compliance Consultants |
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