International Online Conference: Anti-Money Laundering (AML) in Fintech - May 18th, 2023
About the conference from May 18, 2023:
The AML in Fintech international conference provided an enriching platform to explore the intriguing question of whether AML in Fintech acts as a market killer or an enabler. Prof. Gershon's engaging Q&A session with keynote speaker Dr. Shlomit Wagman sparked insightful discussions, while Joel Baris delved into the crucial aspects of managing AML risk and adhering to international standards. Dr. Rami Sasson offered valuable insights into navigating the landscape of disruptive innovation and regulation. Zac Rechtschaffen shed light on the diverse perspectives of Fintech companies and investors regarding AML, and Yael Elbaz shared effective strategies for managing financial crime risk within Fintech organizations. Dr. Hadar Jabotinsky's expertise in addressing the issue of anonymity in crypto activity and the challenge of money-laundering showcased potential solutions. The conference deepened participants' understanding of the complex dynamics of AML in Fintech, empowering them to navigate the ever-evolving industry with confidence.
Please scroll down to enjoy the enlightening lectures from the conference.
The Conference Speakers: Title, Bio and Recordings:
FULL RECORDINGS FROM THE CONFERENCE
Name: Dr. Shlomit WagmanTitle: AML in Fintech - a market killer or enabler?
** The recording started 2-3 minutes after the beginning.
Bio: Dr. Shlomit Wagman was the Director-General of the Israel Money Laundering and Terrorism Financing Prohibition Authority (IMPA), a financial regulator and law enforcement agency, from 2016 to 2022, and the Acting Director-General of the Israel Privacy Protection Authority from 2019 to 2021.
She is an expert in the fields of financial regulation, digital assets and crypto-currencies, money laundering and terrorism financing, privacy and data protection, financial intelligence and data analytics.
She holds both JSD and LLM degrees from Yale Law School (2007, 2005) and a joint LLB and BA degree (magna cum laude) in law and business management from the Hebrew University (2001). She clerked for the Chief Justice of the Israeli Supreme Court, Prof. Aharon Barak.
Professor Gershon's Questions for Dr. Wagner during the Q&A Session.
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What are the global trends regarding digital assets? Recently, Europe passed the MICA regulation and at the same time we see that the U.S is imposing strict enforcement and restrictions - what are your views about it ?
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The tension between privacy and AML - there is the possibility to trace many activities, especially in Fintech. How can those different values co-exist?
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The tension between traditional economy and fintech: Do you think that fintech wants to replace traditional banking? Can they do so? When banks complain about AML risks from Fintech - are they right, or only want to minimize competition?
Name: Adv. Joel Baris
Title: Managing AML Risk and International Standards
Bio: Mr. Joel Baris served as the Chief Legal Advisor to the Israeli Ministry of Finance from 2008 to 2016.
In this role Mr. Baris was responsible for the legal advice to the Financial Markets and Insurance Division in the Ministry. In 2015 Mr. Baris was appointed head of the committee, which designed the regulation for non-institutional financial services. The committee’s recommendations were legislated and are now the relevant law for these entities. After leaving the Ministry, Mr. Baris advised fintech startups in their initial licensing and compliance issues. In June 2023 the Government appointed Mr. Baris to be the first Chairman of the Israeli Regulation Authority. Mr. Baris is currently building the foundations for the Authority’s oversight of Israel’s various regulatory bodies.
Name: Dr. Rami Sasson, Adv.
Title: Disruptive Innovation and Regulation
Bio: Rami is a Consultant and expert in the fields of compliance, legal, banking, anti-money laundering and terrorist financing. Consultant at Borochovsky Law office.
Former chief compliance officer at the Israel Discount Bank for 10 years.
He earned his Ph.D. From Bar Ilan University on the subject of virtual assets and the need and right to regulate the banking system.
He is a member of the board of the Chamber of Accountants on the subject of virtual currencies. Also, a lecturer at Bar Ilan and Raichman University.
Name: Adv. Zac Rechtschaffen
Title: Fintech and AML – viewpoints of Fintech companies vs. investors
Bio: Adv. Zac Rechtschaffen is the managing partner and CEO of Ragnar Crossover Fund, a leading Israeli investment fund from the Alpha Group. Zac was previously a lawyer at Herzog Fox Neeman law firm, where he specialized in Fintech. Zac's work was recognized by Forbes magazine and The Legal 500 magazine.
Name: Adv. Yael Elbaz
Title: Managing the financial crime risk in Fintech Company
Bio: "As a Senior Director in eToro, Yael drives AML resilience and leads eToro's effort in preventing financial crime. Her responsibilities encompass overseeing AML risk mitigation, compliance monitoring program, training and professional support across all eToro's entities. With past experience as a legal advisor in ISA and the banking sector, Yael has implemented a robust financial crime monitoring systems to ensure compliance with all regulatory bodies"
Name: Dr. Hadar Y. Jabotinsky
Title: Startups and crypto - could they ever mix?
Bio: Dr. Hadar Y. Jabotinsky holds a PhD from the European Doctorate program in Law and Economics (EDLE), and is a law and economics researcher of financial regulation, financial markets and emerging technologies such as ChatGPT, AI, Blockchain, Cryptocurrencies, NFTs, Drones and more. Dr. Jabotinsky has served as Head of Regulation for Bank Leumi; General Counsel, Board Secretary, Compliance Officer and Anti-Money Laundering Officer for Euro-Trade Bank; and Legal Advisor and Compliance Officer for HSBC Israel.
Dr. Jabotinsky currently leads the Hadar Jabotinsky Center for Interdisciplinary Research of Financial Markets, Crises and Technology, teaches as an adjunct professor at four academic institutions in Israel (including at Haifa and Tel Aviv law schools), and is a regulatory consultant for firms and governments world-wide advising on issues pertaining to regulation of financial markets and new technologies.
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Invitations and flyers from the conference:
Speakers:
Hosting: Prof. David Gershon, The founder of the Fintech Center at the Hebrew University Business school, former founder of SuperDerivatives.
Dr. Shlomit Wagman, Former Chair of Israel Anti-Money Laundering Authority; Harvard University.
Joel Baris, Head of Israel Regulatory Oversight Board, previously, The Legal Advisor at the Ministry of Finance.
Dr. Rami Sasson, Former Discount Bank Compliance Officer.
Adv. Zac Rechtschaffen, Partner & CEO at Ragnar Crossover Fund.
Yael Elbaz, Senior Director - Prevention of Financial Crime at eToro.
Dr. Hadar Jabotinsky, Legal Regulatory Consultant and Scholar of Financial Regulation and New Technologies.
Agenda of the Conference:
AML in Fintech
The Gershon Fintech Center, The Hebrew University Business School
May 18, 2023
|
16:00 |
Prof. David Gershon |
Opening |
|
16:10 |
Dr. Shlomit Wagman |
AML in Fintech - a market killer or enabler? |
|
16:40 |
Prof. Gershon and Dr. Wagman |
Prof. Gershon in Q&A Session with Dr. Wagman |
|
16:50 |
Joel Baris |
Managing AML Risk and International Standards |
|
17:20 |
Dr. Rami Sasson |
Disruptive Innovation and Regulation |
|
17:50 |
Zac Rechtschaffen |
Fintech and AML – viewpoints of Fintech companies vs. investors |
|
18:20 |
Yael Elbaz |
Managing the financial crime risk in Fintech Company |
|
18:50 |
Dr. Hadar Jabotinsky |
Startups and crypto - could they ever mix? |
|
19:20 |
Prof. David Gershon |
Closing |
The Gershon Fintech Center
The Hebrew University Business School
Is organizing an On-line International Conference
Anti Money Laundering (AML) in Fintech
Keynote Speaker:
Dr. Shlomit Wagman*
Former Head of the Israel Money Laundering & Terrorism Financing Prohibition Authority
Bringing together senior executives of international and local financial institutions, regulators, academic researchers and industry entrepreneurs, this conference will expose the audience to the most recent developments in the area of AML and fintech. The conference will showcase the forefront of AML research and its practical applications to the fintech industry, discuss the AML policies and their effect on the fintech industry, the role of artificial intelligence in combating money laundering and financial crimes, the influence of fintech startups on the regulatory environment and more.
Save The Date: May 18, 2023, 16:00 - 19:30
*Visiting Researcher at the Berkman Klein Center, Harvard Law School
Additional information can be found at the Fintech Center website: fintech.huji.ac.il