The Long Reach of U.S. Regulations and Sanctions on Anti-Money Laundering

Carol Beaumier, Managing Director, Global Financial Services & Regulatory Risk Consulting Practices, Protiviti

Financial Services Committee

Carol Beaumier, a former bank regulator and consultant, is the Managing Director of Protiviti's Global Financial Services & Regulatory Risk Consulting Practices, based in New York. She will explain the regulatory and political trends from the U.S. towards foreign banks. How do regulators apply Anti-Money Laundering regulations and what views are evolving within the political arena to shape application? Carol will also discuss current trends guiding regulatory and political application of U.S. sanctions (by the Treasury Department's Office of Foreign Asset Controls) against certain countries, and designated groups and individuals. In addition, she will explain to what extent a company and its executive management can be held to U.S. AML standards and sanctions requirements, and how a company can avoid trouble with regulators and resulting damaging publicity.

Prior to joining Protiviti, Carol was a partner in Arthur Andersen's Regulatory Risk Services Practice, and a Managing Director and founding partner of The Secura Group. She also spent 11 years with the Office of the Comptroller of the Currency, where she was an examiner with a particular focus on multinational and international banks. She also served as Executive Assistant to the Comptroller, as a member of the OCC's senior management team and as liaison for the Comptroller both inside and outside of the agency.