New York, NY, May 04, 2016 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Simon Moss, CEO and President, Pneuron will speak at the Knowledge Group’s webcast entitled: “Anti-Money Laundering: Practical Guidance for Managing Regulatory Compliance in 2016.” This event is scheduled for May 4, 2016 from 3:00pm – 5:00pm (ET).
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About Simon Moss
Simon Moss is the Chief Executive Officer and Board Member for Pneuron Corporation. In this role, Moss is responsible for overseeing the management, strategy and operations of the business on a global basis. Under Moss’ leadership, the company was founded, capitalized and the strategic platform developed, transforming Pneuron into a global technology provider. Simon brings over 20 years of successful strategic leadership at CEO, Partner and Board of Directors executive levels in the financial services industry, and has a proven track record as a successful entrepreneur.
Moss was most recently the CEO of Avistar and served four years with Mantas, moving the company into positive revenue streams and ultimate acquisition by Oracle Corporation. Previously, he served as Partner at Price Waterhouse Coopers, and was co-Founder of Risk Management Services Practice at IBM, all rounding out his extensive experience in financial services, trading and consulting practices. Simon excels in corporate revitalization and developing new go to market strategies for small emerging businesses as well as Fortune 1000 organizations. Moss is also on the Board of Directors for C6 Intelligence.
Pneuron Corporation enables organizations to rapidly solve business problems through a groundbreaking, distributed approach that cuts across data, applications and processes. By targeting the right information at the data source, companies are no longer faced with the complex integration and infrastructure requirements of traditional approaches. Pneuron’s innovative Distributed Solutions Platform enables customers to accelerate business value and develop reports, products and applications in half the time and cost of traditional methods. Its distributed approach is non-invasive, technology-agnostic and leverages an organization’s existing infrastructure, avoiding the deployment risks and IT concerns that are prevalent in today’s centralized data projects. For more information, visit us online at: Pneuron.com, on Twitter or LinkedIn.
The Federal Banking Agencies (FBA) continue to focus attention on enforcement of the Bank Secrecy Act (BSA) and U.S. Anti-Money Laundering (AML) laws. Concomitantly, banks and other financial institutions are facing new, complex, onerously challenging, and often contradictory regulatory, supervisory, auditory, and compliance challenges. BSA/AML enforcement by the FBAs and the Financial Crimes Enforcement Network (FinCEN) have increased dramatically to try and control the ever increasing flood of illegal activities.
For several years, financial institutions have understood the need to identify, mitigate, manage, and report potential or actual Anti-Money Laundering transactions undertaken through their organizations. Yet, the on-going global and national effort to combat money laundering is a never-ending battle against often ingenious white collar criminals, hoodlums, and dangerous gangs constantly trying to find new ways to cash in on their illegal activities. Hand in hand with the flood of illegal activities, the regulators have increased the frequency and severity of sanctions on individuals, companies, and organizations.
Yet, despite all the efforts and enormous expenditures of money and personnel, the battle is almost futile. The consequences of compliance failure can be devastating even to a large bank. For example, Banamex (Citicorp) was fined $140 million in California for not having enough 'qualified and knowledgeable' fraud and anti-money laundering staff! Rather than comply, Citigroup closed all branches in California and Texas. In 2012, HSBC payed almost $1.9 billion in fines for allegations of money laundering through its Mexican subsidiary. It is a far greater challenge for smaller financial institutions to monitor and mitigate money laundering and to comply with all the regulations of numerous agencies. Recently, two individuals set up a collectors club to launder money from 83 million cracked accounts of JPMorgan Chase via Bitcoin transactions done through a small New Jersey credit union that they took over.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Group, LLC was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/