Virtual Panel Discussion: Money Laundering, Fraud, Financial Crime in a Pandemic Era: What You Don’t Know WILL Hurt You!

Money launderers, fraudsters, and other criminals are hard at work during the pandemic to take advantage of the chaos, anxiety, and fear brought in the wake of the coronavirus. Our webinar will focus on pandemic-related money laundering and fraud, including the criminal possibilities resulting from the price gyrations and shortages of personal protective equipment (PPEs), medical miracle cures, and fraudulent sale of a COVID-19 vaccine. These issues affect not only banks and other financial institutions but also hospitals, state governments, and consumers.

Panelists:
Ross S. Delston
Timothy Dunfey
Moyara Ruehsen

Money laundering issues:
FIs: Issues relating to cash businesses in the pandemic
Bulk cash: Issues relating to transporting the stuff in a pandemic
TBML: Price gyrations, quality issues for PPEs, meds and med equipment
Fraud issues:

Stockpile fraud relating to PPEs (“do I have a deal for you on N95s”)
Miracle cures (chloroquine combined with Z-Pak; nicotine patch combined with Pepcid)
Charity fraud
Fraud relating to SBA PPP program

What compliance professionals need to know:
Recognizing red flags
EDD issues relating to bank restructuring – what do you do when you discover that the borrower in default is a crook.
How to conduct effective CDD during this period.

Register via this link: https://learn.middlebury.edu/onlinediscussions