Is Data Privacy and GDPR destroying AML & Financial Crime Prevention?

BDO, London | Tuesday 14th May 2019 17:30 – 21:00

What is an MLROs.com Roast?

A Roast is a fun event with serious content and information sharing potential; run in a wholly irreverent and slightly alcohol-fuelled manner.

The idea is that we take a serious topic; approach it in as controversial and inflammatory a way as possible. Add a good dose of alcohol and nice finger food and make it an open and fun discussion/ argument/ shouting match, run under Chatham House rule to encourage a truly open and frank discussion.

Registration (and drinking) starts at 17:30 the panel of SME’s will gather at the front of the room at about 18:30 where the chairman will outline the event content and procedures (or lack of them) and start the ball rolling.

We are expecting to have a very lively discussion and there are a number of serious issues in play in this area at the moment.

Event Details

All businesses want to hold as much data as possible on customers and potential customers.

The data helps the business sell products and services, directs development into new areas and of course, is key in running effective compliance and AML systems.

The growing trends for data privacy and a person’s right to be forgotten however are at odds with a business’s desires and needs to use data

In the AML and financial crime arena, these problems become magnified by the conflicting legislation and the onerous responsibilities placed on regulated firms and nominated officers.

The issues of AML and compliance staff and regulated firms fulfilling their responsibilities under MLR2017 and other legislation including tipping off legislation and the SMCR, compounded by the nominated officers’ personal legal responsibilities to the regulators currently doesn’t sit comfortably with data protection/ privacy legislation and GDPR

Recent cases like the Nat West vs Lonsdale case where the subject of a SAR was able to get a court order to have the SAR’s contents made available to him and the case recently in The Regional Labour Court of Stuttgart that considered the scope of subject access requests under the EU General Data Protection Regulation (GDPR) in the context of compliance and whistle-blowing regimes. Interestingly the court held that there is no general rule that protection of whistle-blower confidentiality overrides the employee’s access right. This case will probably escalate to the highest labour court in Germany. It remains to be seen what the outcome would be.

Join in with our panel of subject matter experts and your peers and let’s see if we can make sense out of this minefield and find some working ways forward!

Tickets are a nominal £25* and that includes food and an unlimited bar together with a fun and information-rich evening’s entertainment …. So fantastic value for money

Remember, YOU WILL ALSO GET CPD POINTS FOR ATTENDANCE AT THIS EVENT!

Hosting Partner

BDO’s Financial Services’ team has over 350 specialists in the UK and is part of a global BDO network with operations in all major financial centres. Our expertise covers the banking, insurance, capital markets, private equity and asset management sectors where we work with firms of varying sizes, from new entrants to the largest and most complex financial services organisations in the world.

Event Sponsor

Refinitiv are the former the Financial and Risk business of Thomson Reuters, they’re now a new company built on a unique open platform, high-performance products, and best-in-class data. In the face of unparalleled industry change, they’re drawing on their deep knowledge and heritage of objectivity to drive performance and innovation with our customers and partners.

*Ticket price does not include any booking or handling fees charged separately by Eventbrite