New York, NY, May 20, 2006 --(PR.com
)-- The Global Knowledge Congress, the leading producer of regulatory focused teleconferences, has announced today that Jeffrey Sklar, CPA CAMS, 20-year Anti-Money Laundering/MSB Expert, Chairman for The Metropolitan New York ACAMS Chapter & National Chairman of the MSB Taskforce, will speak at the upcoming teleconference on The Patriot Act and Anti-Money laundering scheduled for Tuesday, June 20, 2006 at 11:00 AM (EDT).
The Patriot Act was formed in response to the terrorist attacks against the U.S. on September 11, 2001. This legislation dramatically expanded the authority of U.S. law enforcement for the stated purpose of fighting terrorist acts in the United States and abroad, and implemented long anticipated changes to the Bank Secrecy Act. The impact of these changes has been far-reaching and has increased the depth, breadth, and scope of AML/CFT compliance for all financial businesses including banks, bank holding companies, mutual funds, asset managers, hedge funds, insurance companies, and money service businesses. The USA PATRIOT ACT Title III made 52 amendments to the Bank Secrecy Act alone, and reshaped whole sections of the Code of Federal Regulations. The new regulations are forcing unprecedented increases in software, operational, and independent auditing expenses. Compliance is challenging and the costs for not effecting a balanced and transparent AML/CFT system is high. Some major financial institutions have paid record fines (in excess of $50 million) for AML non-compliance. It is clear that the long-standing financial definitions have changed and expanded to include these new elements. The Global Knowledge Congress has scheduled a teleconference for Tuesday, June 20 at 11:00 a.m. (EST) to analyze this critical legislation.
About Jeffrey Sklar, CPA CAMS
Mr. Sklar is considered one of the foremost authorities on Anti-Money Laundering Compliance Issues for Non Bank Financial Institutions. He has over 20 years experience in the MSB Industry and has lectured and provided extensive training to MSBs on AML issues, locally, nationally and internationally. He has been at the forefront of the Independent Reviews for MSBs. He has developed AML Compliance Programs and Training Programs for MSBs, Broker/Dealers and Insurance Companies. In addition, as a valuation analyst, he has participated in and testified in numerous cases in the MSB Industry. Currently, Mr. Sklar serves as the Chairman for the Metropolitan New York ACAMS Chapter and serves and the Chairman of the MSB Taskforce.
For more information, about Jeffrey Sklar and his firm, please visit: www.shcconsulting.com
About SHC Consulting Group LLC
SHC Consulting Group LLC is a New York Based firm specializing in U.S. Bank Secrecy Act, USA Patriot Act, and International Money laundering issues.
Our clients include banks, credit unions, savings and loans as well as Non Bank Financial Institutions such as Money Services Businesses, Check Cashiers, Money Remitters, Currency Dealers, Securities Brokers, Insurance Companies and Agents, Dealers in Precious Metals and Jewelry.
Our firm is comprised of over 30 professionals with over hundreds of years of experience in a broad range of industries. Our proprietary systems allow us to be flexible in our approach, providing clients with innovative and customized services.
Our partners and staff have presented at national forums and conferences on numerous topics as experts in their respective fields. Our staff has testified as expert witnesses, conducted examinations and provided training programs to clients on a national level.
At SHC we provide the following services:
Technical consulting for Money Services Businesses on USA Patriot Act Compliance and money laundering matters
Conduct Independent Examinations of AML Compliance Programs
Draft or update existing written internal controls, policies and procedures
Training and Education on AML and BSA Compliance, money laundering laws and related matters
Litigation support and expert witness testimony
Speakers for conferences, seminars and forums
Assist in Regulatory Compliance Examinations and Audits
For more information about the firm, please visit: www.shcconsulting.com
About The Global Knowledge Congress
The Global Knowledge Congress is an organization that produces teleconferences that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations.” To contact, please visit: http://www.knowledgecongress.org