2011 Western Union Strategic & Key Account Fraud/Compliance Conference

Jay Postma, CAMS, President of MSB Compliance Inc. served the financial community as a speaker at the 2011 Western Union annual conference.

Mr. Postma spoke on "Effectively Risk Rating Your Products, Consumers and Locations."  Participants learned the requirements and importance of risk assessment as part of ensuring an effective Bank Secrecy Act / Anti-Money Laundering program that is reasonably designed to guard against potential abuse for money laundering and/or terrorist financing.  Various areas of risk were examined along with mitigation strategies and decision making.  The importance and means of effectively tying the risk assessment process to development and implementation of effective policies, procedures and controls was discussed as was the ongoing nature of the risk assessment process.