Compliance professionals and those new to regulatory compliance from across the business and non-profit sectors, are invited to attend the inaugural Bermuda Compliance Professionals Conference next week.

The event is being staged at the Hamilton Princess on May 17. The lunch keynote address is entitled ‘Legal Foundation of the Compliance Landscape’ and will be delivered by Professor Gilbert Morris from the Turks and Caicos Islands.

Presentations will be made by Cheryl-Ann Lister, chairwoman of the National Anti-Money Laundering Committee, and Stephen Platt, an anti-money laundering/antiterrorist financing expert with KYC Global Technologies.

Ms Lister said the upcoming Caribbean Financial Action Task Force review will assess how effectively Bermuda is combating money laundering and the financing of terrorism and proliferation. She said: “This conference should help attendees to further their knowledge and understanding of these critical matters and in turn make Bermuda’s regime stronger.”

While Mr Platt said: “Money laundering prevention has never been so critical or failure so expensive. Screening customers is a vital first and ongoing step in AML compliance. Many legacy screening systems used by industries utilise old technology and create operational difficulties such as excessive false positives.”

Mr Platt will also present a pre-conference bonus Lunch & Learn session on May 16 for those registered for the conference. The workshop session, entitled ‘The Challenges of Customer Screening and How to Overcome them using Risk Screening Batch technology’, will consider common customer screening challenges and examine next generation screening technologies and the benefits they can deliver.

The conference is being hosted by Island Legal Outsourcing Solutions and the Ministry of Legal Affairs. It will be opened by Kathy Lightbourne-Simmons, Attorney General and Minister of Legal Affairs.

A number of regulators and corporate governance leaders who speak on key topics such as cryptocurrency, the Personal Information Protection Act, General Data Protection Regulation, Foreign Account Tax Compliance Act, Common Reporting Standard and cyber-risk as Bermuda prepares for the CFATF mutual evaluation review later this year.

The conference is open to compliance professionals from all regulated, and soon to be regulated, sectors including those in financial services, legal and accounting firms, charities, real estate agencies and high value dealership businesses. It will address the many challenges faced by compliance professionals in Bermuda’s regulated sector with AML/ATF compliance, FATCA/CRS, corporate governance, risk, privacy and technology.

Featured speakers include those from within the local and international compliance industry, NAMLC, and regulators. CPD credits will be available to participants on request.

Educational sessions throughout the day include: preparing for the CFATF regulatory review; Why AML failure is a choice; Deciphering the technology factor; and crisis management.

• To register visit www.ptix.bm/bdacompliance. For more information contact Island Legal Outsourcing Solutions at legalosolutions@gmail.com