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In today's increasingly connected world, the process of Know Your Client (KYC) has evolved to adapt to technological advancements. Digital identification now plays a crucial role, ensuring security while providing convenience. Embracing digital identification and incorporating it into the KYC process is no longer optional but necessary. It’s about ensuring safety in the digital age, enhancing the efficiency of financial systems, and meeting the modern demands of a rapidly evolving world. Understanding your client – beyond just what it says on a piece of plastic – is key to identifying unusual activity.
In this session, Telpay's guest speakers, Matt McGuire, Co-Founder and Practice Director of The AML Shop and John Zajic, Vice President of Corporate Policy and Compliance at Telpay, delve into how accountants and bookkeepers, in light of the evolving multifaceted nature of KYC, are increasingly being relied upon to play a role in the fight against money laundering and terrorist financing.
- How Accountants and Bookkeepers are Exploited to Launder Money (wittingly and not)
- What is the Significance of Digital Identification in Today's Financial Landscape?
- How Has the Role of FINTRAC Evolved in the Digital Era?
- What Constitutes Modern KYC in a Digitally-Driven World?
- Which Core KYC Methods Incorporate Digital Identification and How it Strengthens the Foundations of AML/ATF
- What Are the Red Flags Indicating Suspicious Activities?
- What the risks are to you and your financial services provider if AML/ATF is Ignored?
Speaker: Matt McGuire, Co-Founder and Practice Director of The AML Shop
Matt is an internationally recognized expert in anti-money laundering, counter-terrorist financing and sanctions compliance and leads the advisory practice team at The AML Shop. He has been assisting governments and financial services companies to assess and reduce financial crime and related regulatory risks for fifteen years.
Matt is a Chartered Professional Accountant and has been inducted as a Fellow of CPA Ontario, is certified as an Anti-Money Laundering Specialist and Certified Cryptocurrency Investigator, and is accredited as an Anti-Money Laundering Professional, and Certified in Financial Forensics.
Matthew has been qualified as an expert witness in forensic accounting and money laundering, has testified before Senate committees, Parliamentary Committees and the Cullen Commission of Inquiry into money laundering.
Speaker: John Zajic, Vice President of Corporate Policy and Compliance at Telpay
With 25 years of expertise in Payments and Risk Management, John Zajic currently serves as the Vice President of Corporate Policy and Compliance at Telpay. In this pivotal role, he ensures meticulous compliance with regulatory requirements in customer onboarding and payments activities and cultivates strong ties with government and industry stakeholders.
As an active member of the Finance Canada Payment Consultative Committee (FinPay), John plays a key role in shaping the Canadian Payment System. His dedication to industry progress is highlighted by his previous involvement in the Retail Payment Activity Act Committee (RPAA) and ongoing input on government policies. Prior to Telpay, John's leadership was evident in managing various funding programs for the Canadian Wheat Board, demonstrating his commitment to excellence in his field.