Mastering Anti-Money Laundering Training Course
Course Highlights and Agenda
A comprehensive, practical analysis of anti-money laundering legislation and implementation.
To help you get to grips with the complexities associated with fraud prevention, we have designed this highly practical course filled with the latest developments both regulatory and otherwise. Don't leave it until it is too late to protect yourself and your company by attending this crucial course, while keeping informed of all the key issues associated with fraud today.
Scroll down for agenda or book onto this course.
Introduction to Money Laundering and Terrorist Financing
- The meaning of money laundering
- The meaning of terrorist financing
- Why is money laundering such an important issue?
- 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
- Nine special recommendations
- 2012 amendments
- Mutual reviews
- Non co-operative countries and territories
- 1st and 2nd Directives and how they set the stage for the 3rd Directive
- 3rd Directive
- Possible 4th Directive
- Understanding the concerns about the loopholes brought about by new technologies
- Other EU Directives which impinge on or supplement the requirements in respect of money laundering
The US and its Effect Internationally
- History of the fight against money laundering
- US Patriot Act
UK Legal and Regulatory Requirements
- Proceeds of Crime Act 2002
- Serious Organised Crime and Police Act
- Terrorism Act 2000
- Serious Crime Act 2007
- Counter Terrorism Act 2008
- Money Laundering Regulations 2007
- Financial Services Authority Rules
- Rules of other regulators
Customer Due Diligence
- CDD requirements
- Legal entities
- Beneficial owners
- Risk based approach
- How best to achieve
- Face to face
- For CDD reviews
- Transaction monitoring
- Risk indicators
- What records must be kept
- How do you keep them and for how long
- CDD records
- Transaction records
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 report
- What records you need
- When you need consent
- How you deal with customers whilst awaiting it
- How you handle customers after a report has been made
- 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
Senior Management Responsibility
- Setting an AML policy
- Audit of AML compliance
Training and Awareness
- Who and when to train
- Level of training
- Methods of training
- Assessing competence
- Training records
- Maintaining awareness
- HM consolidated sanctions list
- How do you apply it
- Licence and records
Interrelationship Between Financial Crime/Fraud And Money Laundering
- Where does money laundering end and other financial crimes begin
- Bribery Act 2010