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    The U.S. Corporate Transparency Act: Why Banks Are Wary of This New Law

    About this event

    TCAE is delighted to invite Ross Delston, Attorney and Expert Witness, to share his insights on the U.S. Corporate Transparency Act. In this session, Ross will cover the basics of the Corporate Transparency Act, discuss access to the new registry, and explain why criminals the world over are gleeful about the new law.
    Learning Outcomes
    • Who are the five types of financial institutions that will have access to the registry?
    • Limitations and preconditions to that access?
    • Which companies are required to report their ownership and which are not?
    • Why ownership information in the new registry is treated like PII – personally identifiable information – and why the implications are far-reaching in terms of access to the data as well as penalties?
    Ross Delston | CAMS, Attorney + Expert Witness
    Ross Delston is an independent American attorney, expert witness, and former U.S. banking regulator (FDIC) who has specialized in AML/CFT issues for over 20 years. Ross has participated in the monitorships of 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, Bermuda, and St. Vincent. Ross has also been an expert witness on AML issues in 18 civil and criminal cases, including on behalf of plaintiffs in Joint Liquidators of Stanford International Bank. v. Toronto-Dominion Bank, a Canadian civil action growing out of one of the largest Ponzi schemes in recent history.
    Ross has drafted trade finance policies and procedures to address TBML risks for a multinational bank and conducted training on the new procedures. He has also 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 as an attorney at the U.S. Export-Import Bank where he drafted and negotiated trade finance deals. 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/CFT topics at the U.S. Financial Crimes Enforcement Network (FinCEN); the People’s Bank of China (central bank) numerous times; 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.
    Abdullah Alawi | Financial Crime Investigator
    Abdullah has 20 years of experience in AML investigations, banking, securities, economic analysis, and government, all at leading financial and government institutions in the Middle East and North America. Abdullah served as a senior treasury dealer at retail and investment banks in Jordan, a diplomat at The Jordanian Ministry of Foreign Affairs, and a Head of Equity Research at the largest brokerage company in Saudi Arabia. Abdullah moved to Canada in 2016 and has since been working in AML Investigations at HSBC Canada, Scotiabank, and as an independent consultant for US-based AML consultant companies.
    Abdullah is a trainer at TCAE CAMS Study Group, TCAE CFCS Study Group, a moderator of several TCAE Knowledge Series, and a Co-Host of a Clubhouse show named “The AML Junction”. Abdullah also provides one-on-one mentoring sessions for current and aspiring AML professionals around the world.
    Abdullah holds a Post-Graduate Diploma in Financial Strategy from The University of Oxford, Master of Science in Banking and Finance from Liverpool John Moores University, and Bachelor of Science in Economics from University of Jordan. Professionally, Abdullah is a Certified Anti-Money Laundering Specialist (CAMS),
    Certified Financial Crime Specialist (CFCS), and holds Chainalysis Cryptocurrency Fundamentals Certification (CCFC), and Chainalysis Reactor Certification (CRC).


    Nov 06 2021


    10:00 am - 11:00 am


    CA$0 – CA$11.30
    Toronto Compliance & AML Events


    Toronto Compliance & AML Events