Trade Surveillance and Anti Money Laundering Conference, 16-18 June, Singapore

Marcus Evans has launched the ‘The 6th Annual Trade Surveillance and Anti Money Laundering Conference’ scheduled to take place on 16-18 June in Grand Corpthone, Singapore. Registration details in reference section below.

Being a first class Head of Compliance requires the ability to prevent market abuse and manipulation. With this, you will able to increase the level of surveillance in dramatic transformation.

Presenting on assessing trade surveillance and anti money laundering opportunities to develop effective succession plan is Erik Wilgenhof Plante, Senior Manager Compliance, South East Asia in PayPal, Luxemburg. We explore his expect opinion and views of the industry as well as his take on the compliance job role today in this exclusive interview.

What is your view and expert opinion about the upcoming conference?

Globalisation and changing legislation make it increasingly difficult to keep up to speed. Conferences like this give an opportunity to exchange views and discuss issues.

Can you share a successful case study/story with us about your experience as Senior Manager Compliance, South East Asia in PayPal, Luxemburg?

Our surveillance program is integrated with our risk mitigation systems. Our systems detected unusual activity in Vietnam where there suddenly was a flurry of activity where before that was nothing. At first glance there was nothing illegal as none of our customers had complaint and we had not suffered any financial losses due to charge backs. However after investigating we found out that a ring of fraudsters were advertising electronic goods for low prices.

Whenever a customer would buy the product, an order was made with a large online retailer using a stolen credit card. The buyer would receive the goods directly and the fraudster would be paid through PayPal. The retailer was left holding the bill but hadn't contacted us yet. Because our system looks at concentrated activity, not only suspicious activity we were able to stop the fraud.

You will be presenting at the upcoming conference. Which topic in the event interests you most? Why?

Virtual currencies and the associated risks, new on boarding methods for internet based financial companies.

What role do you see the Heads of Compliance and Surveillance evolving to in the near future?

Risk and compliance will converge while legal and compliance increasingly separate. Heads of Compliance will need to know exactly where the risk points in their companies are and have technical knowledge.

How would you advise professionals today to understand the regulatory impact on surveillance?

Instead of waiting for new regulations to be published and then react, engaging the regulators should be a continuous process. Look beyond the horizon and keep track of political developments that may indicate change. Learn from the mistakes of others and anticipate your own.

Any added views you wish to highlight on your upcoming presentation at this event.

Regulators are under scrutiny as well because they may have missed signs or reacted to late. Over regulating and draconian fines are not long term solutions. Instead of seeing the regulator as an adversary, cooperate and discuss in an early stage.

About Erik Wilgenhof Plante.

Erik Wilgenhof Plante is currently Senior Manager Compliance for South East Asia, PayPal in Singapore. His responsibilities include regulatory and operational compliance in South East Asian markets as well as India.

About marcus evans.

marcus evans is one of the world's leading providers and promoters of global summits strategic conferences, professional training, in-Company training, business-to-business congresses, sports hospitality and on-line information. The company also owns a leading football club, represents Hollywood stars and produces films and entertainment.