Description

Treasury leadership and identity experts discuss the critical efforts involving identity underway across the Financial Crimes Enforcement Network (FinCEN), the Internal Revenue Service (IRS), and the Office of Terrorist Financing and Financial Crimes (TFFC) to counter tax fraud and safeguard the financial sector from illicit use.  Treasury panelists will speak to initiatives and latest developments involving:

• The role of innovation and identity in anti-money laundering and countering terrorism financing (AML/CFT)
• Identity as a potential promise for efficiency and financial inclusion, and as a potential weapon and attack surface
• “Know Your Customer” (KYC) requirements for U.S. financial institutions, including customer due diligence (CDD) and beneficial ownership
• FinTech and RegTech innovation and regulatory reform efforts involving identity
• IRS efforts in secure access and identity assurance, including combating tax fraud
• The importance of integration across organizations and expertise (AML/CFT, cyber, privacy, CI staff, etc.) to identify and disrupt crime targeting or exploiting identities
• Information sharing to combat identity theft, fraud, and illicit finance
• International efforts to support the use of trustworthy digital identity solutions to comply with the global AML/CFT standards of the Financial Action Task Force (FATF) and to facilitate mutually reinforcing, risk-based financial inclusion objectives

Tracks:

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  Public Sector