OUR IN-PERSON TRAINING COURSES
MEET THE ANTI-MONEY LAUNDERING OBLIGATIONS PLACED UPON YOUR ORGANISATION
A two day practical training course
Learn how to
- Spot the major sources of money laundering and terrorist financing
- Meet the cross-spectrum of international and UK requirements
- Understand how the launderers operate
- Apply the practical day-to-day requirements for robust anti-money laundering operations
- Find realistic ways of meeting the anti-money laundering obligations placed upon your organisation
Case studies and practical sessions
The course will have numerous topical case studies throughout highlighting latest techniques for fighting money laundering.
Course Agenda
- +Introduction to Money Laundering and Terrorist Financing
- The process of money laundering and terrorist financing
- Predicate crimes and their route to legitimacy
- AML and CFT terminology
- Exploring and discussing the impact of money laundering on both developed and developing countries
- The damage that money laundering and terrorist financing can cause to your organisation
- International initiatives and requirements
- +Role of the Financial Action Task Force (FATF)
- 40 recommendations
- Mutual reviews
- Higher risk countries
- International co-operation
- +EU Directives
- 4/5/6 MLD
- Understanding the concerns about the loopholes brought about by new technologies
- +The US and its Effect Internationally
- History of the fight against money laundering
- Extra-Territorial Jurisdiction
- US Patriot Act
- Egmont, Transparency International and the Basle Institute
- +UK Legal and Regulatory Requirements
- Proceeds of Crime Act /Serious Organised Crime and Police Act 2005
- Terrorism Act 2000/Serious Crime Act 2017
- Counter Terrorism Act 2008/Criminal Finances Act 2017
- Money Laundering Regulations 2017/Financial Conduct Authority Rules
- Office for Professional Body Anti-Money Laundering Supervision (OPBAS)
- +KYC & Customer Due Diligence
- The KYC Process
- Identification and verification
- CDD requirements
individuals
legal entities
beneficial owners
politically exposed persons - Risk based approach and enhanced due diligence
- Problems and solutions to KYC challenges
- +Ongoing Monitoring
- For CDD reviews
- Transaction monitoring
- Risk indicators
- +Suspicions and Reporting
- What is a suspicion?
- How you identify them
- What internal reporting systems you need
- What must you report to the authorities?
- How you deal with customers whilst awaiting it
- How you handle customers after a report has been made
- +Tipping Off
- What is tipping off?
- How can we commit it?
- How do you avoid it?
- +Money Laundering Reporting Officer (MLRO)
- What are the duties?
- What are the obligations?
- How do you meet them?
- Annual report
- +Sanctions
- Understanding sanctions and sanctions terminology
- The UK and EU Sanctions regime
- UN sanctions and their purpose
- US sanctions
- OFAC – its structure and purpose
- How OFAC operates – sanctions lists and fines
- The importance of OFAC compliance
- Making sure your sanctions areas are fit for purpose
- +Creating a World-Class AML Function
- Culture
- Understanding limitations in P&P
- Whistleblowing
- Embedding ‘professional scepticism’
- +The Impact of the Pandemic
- Financial Crime
- Money Laundering Techniques
- Criminal Gangs Activity
