1999 American Bankers Association/American Bar Association Eleventh Annual Money Laundering Enforcement Seminar Handbook (IC)

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Monday, May 1, 2000
Bruce Zagaris
On October 25-26, 1999, the ABA/ABA 11th Annual Money Laundering Enforcement Seminar was held in Arlington, Va. This review focuses primarily on the aspects of particularly potential interest to professionals dealing with the international aspects. One section of particular interest to the international community is entitled “Anti-Money Laundering Training – Teaching the Small, Large and Foreign Banks What to Do.” Phillips G. Gay, Jr., Senior Vice President, Commercial Bank of Florida, President, Compliance Advisory Service, and Senior Advisor, Paragon Compliance Group, Miami, Florida, prepared a paper and materials, entitled Meeting the Challenge in the Next Millennium. His paper explains that traditionally too many bank compliance officers and Bank Secrecy Act (BSA) specialists have viewed the anti-money laundering training requirement as a means by which to appease the bank examiner and to preclude any charges of not fully complying with the mandatory raining rule…[more]