ATL ACAMS Chapter: Vulnerable Money Laundering Populations

Jay Postma, President, John Schmarkey, BSA/AML Compliance Specialist, and Ben Robey, BSA/AML Compliance Specialist were pleased to attend the quarterly meeting of the Atlanta ACAMS Chapter.

Vulnerable Money Laundering Populations: Baby Boomers to Generation Z

Guest Speakers: Judy Newberry & Morgan Clemons

October 24, 2019 (Thursday)  

11:30am-1:00pm - Ansley Golf Club

196 Montgomery Ferry Drive, Atlanta, GA 30309

Description:  Morgan Clemons and Judy Newberry, attorneys in the Regulatory Compliance practice group at Aldridge Pite LLP, will discuss money laundering risks among the predominant generations living, working, engaging in e-commerce, and handling money. What defining characteristics of generations make certain populations more or less susceptible to money laundering fraud schemes? How do technology, financial acumen, and financial circumstances influence different populations? Can generational data be used for compliance purposes? What are the modern money laundering offenses and who are the modern money laundering offenders and victims? How can compliance officers and AML professionals protect their institutions, recognize risks, and prevent financial crimes? These topics will be covered, and speakers will also include a discussion of Facebook cryptocurrency and any potential money laundering effects.

Biographies: Judy Newberry has 35+ years of legal experience in financial services, banking, and technology. Judy advises financial institutions on vendor management, policies and procedures, and director & officer best practices. Judy additionally identifies operational, compliance, IT, and data privacy risks and provides remediation guidance. Judy previously worked as an Enforcement Attorney with the FDIC and as the Deputy Commissioner for Legal Affairs with the Georgia Department of Banking & Finance. She has served as a legal expert on committees, held leadership positions in financial services industry trade groups, and has spoken at national conferences on financial services topics. She provides in-house training and “Lunch & Learn” activities to officers and directors on various subjects of interest to institutions.

Morgan Clemons is a regulatory compliance attorney with experience representing a variety of financial institutions, including banks, MSBs, and fintech companies. She advises on state-licensing requirements, Bank Secrecy Act compliance, and Electronic Funds Transfer Act/Regulation E compliance. She has attended the NACHA Payments Institute and drafted essential changes to Georgia’s money service business laws. She has assisted fintech payments and bill pay companies with establishing fifty-state footprints, advised financial institutions on initial and ongoing compliance requirements, and reviewed AML/BSA policy manuals for national financial institutions. Morgan additionally provides interactive in-house compliance training to financial institutions across the U.S.