THE Director of Enforcement and Anti-Money Laundering at the Central Bank of Ireland, Seána Cunningham is speaking at the ‘European Anti-Financial Crime Summit 2023,’ it was announced today.
Seána has responsibility for overseeing Ireland’s enforcement investigations, AML/CFT supervision of credit and financial institutions and policy development.
Last year she announced a €1.9M fine on Danske Bank for AML failings. The bank was originally in line for a €2.6m penalty, but this was reduced by 30pc in line with the Central Bank’s standard discount for early settlement.
“The Central Bank recognises that while firms may rely on automated solutions for transaction monitoring, they must ensure that systems employed for this purpose are appropriately monitored, and calibrated correctly to take account of the actual money laundering or terrorist financing risk to which the firm is exposed,” she said at the time.
“In this case, the transaction monitoring system used by the Irish branch was a Danske group wide automated system that had applied historic data filters which operated to erroneously exclude certain categories of customers from being monitored for a period of almost nine years. This led to the serious breaches in this case.”
AML Intelligence on Monday announced that European Prosecutor Juraj Novocký is also to address the ‘European Anti-Financial Crime Summit 2023.’ it
Today it was announced that European Prosecutor, Juraj Novocký is to speak at the Summit.
He has over 20 years of experience as a prosecutor at various levels of the prosecution service in Slovakia. Before joining European Public Prosecutors Office (EPPO), he was a prosecutor of the Special Prosecution Office dealing with corruption, organized crime and terrorism.
He has participated in several international projects and worked with international institutions, including GRECO and OECD, as well as with European bodies in the field of criminal justice. During the Slovak Presidency of the EU, he was responsible for the final negotiation with the European Parliament and the European Commission on the Directive on combating terrorism.
The Summit, which is being held in Dublin on May 25 next, is to be officially opened by Eurogroup President Paschal Donohoe. Mr Donohoe – who is Ireland’s Minister for Public Expenditure – was re-elected Eurogroup President earlier this year.
The Eurogroup is the influential college of EU finance ministers from eurozone countries.
“I am looking forward to delivering the opening address at the ‘European Anti-Financial Crime Summit’ in May and also to hearing about the major issues in this whole area from the attendees and speakers,” Mr Donohoe said.
One of the headline speakers meanwhile is Dr Marcus Pleyer, former president of the Financial Action Task Force (FATF) and one of Europe’s leading AFC voices.
Dr Pleyer is Deputy Director General at the German Federal Ministry of Finance (Bundesfinanzministerium).
Other leading figures set to address the summer AFC summit, which is being held in-person, are:
- Michael McGrath TD, Minister for Finance, Ireland
- Dr Marcus Pleyer, Deputy DG, German Finance Ministry, former President, FATF
- Billy Kelleher, MEP
- Claude Bocqueraz, Deputy Head, Financial Crime Unit, DG FISMA, European Commission
- Karyn Kenny, Prosecutor, US Department of Justice, AML and Metaverse SME
- Seána Cunningham, Director of Enforcement and Anti-Money Laundering, Central Bank of Ireland
- Tracy Mortenson, President, AML RightSourceKevin Kerl, EVP, AML RightSource
- Joerg Schmitt, Investigations Editor, Suddeutsche Zeitung (media group behind Paradise, Panama and Pandora Papers as well as Credit Suisse Secrets)
- Suzanne Gunn, Director of Criminal Enforcement, Corporate Enforcement Authority
- Brian McKenzie, Head of Financial Crime & MLRO, AIB Bank
- Federica Taccogna, MD, Interpath
- Siobhan Ivers, Director of Global Compliance at Etsy
- Michael Kavanagh, CEO of the Compliance Institute
- Det Chief Supt Pat Lordan, Commander, Garda Economic Crime Bureau
- Assistant Commissioner (rtd) John O’Driscoll, police officer who led operation to sanction the ‘Kinahan Cartel.’
More leading speakers from banking, financial services industry, regulators and EU and UK policy are to be announced over the coming days.
The summit is to be held in the splendid surroundings of the RDS, Dublin – one of Ireland’s most prestigious convention venues.
The European AFC Summit is set to hear from global leaders on the challenges facing the sector, including:
- Data sharing
- Public Private Partnerships
- EU AML Authority (AMLA), AMLD6
- UK Economic Crime Plan
“It’s a must-attend event for all AML, AFC and Compliance professionals. You get to hear from the key people in one place on one day – and of course Dublin is a great place to hold this year’s summit,” said AML Intelligence MD James Treacy.
Don’t miss out – and avail of the Early Bird Discount tickets now here: https://www.amlintelligence.com/boardroom-series/upcoming-events-2023/