AML – Risk Based Approach | Globaltraining

AML - Risk Based Approach


Duration
2 hours
Cost
€60
Tel
77778030
Email Address
Online

Lecturer(s)

Aim / Objective:

Cost of non-compliance will always outweigh the cost of compliance and for your Firm, not fully complying to the current AML Legislation, is not any longer an option. Your Firm has been definitely targeted in the past and your Firm will be definitely targeted in the future, by Criminals and Money Launderers, and the AML Legislation is very strict in both disciplinary and criminal sanctions, in cases that “You have known” or “Ought to have Known” of money laundering performed by your clients.

Complying to the AML legislation, is now all about professional judgement and professional scepticism; the times when it was sufficient having a copy of a passport, a copy of a utility bill and 5 ticked checklist boxes are long gone and will not get your company off the hook with the regulatory authorities if things go wrong.

The Anti-Money Laundering (AML) compliance, has become a critical milestone for the Regulatory Industry, and now more than ever, the Regulated Firms (Audit, Accounting, Fiduciary, Investment, Funds) are under heavy scrutiny and risking heavy sanctions from both the Regulatory Authorities in Cyprus and Globally.

The aim of this course will be about offering a thorough understanding, for the junior staff up to the senior executive, of the current AML legislation for Regulated Firms and more importantly to offer practical solutions for an efficient and effective implementation.

Participants’ Profile:
  • Back-office Staff, Compliance Staff, Risk Management Staff, AML Staff
  • Heads of Compliance Departments, Heads of Risk Management Departments, Heads of AML Departments
  • Accountants, Lawyers
  • Internal Auditors, External Auditors
  • Executive Directors, Non-Executive Directors
  • Regulatory Compliance Advisors/Consultants

Registration:

To register for this seminar, please click here.

Registration can also be done through our online store.

Bundle prices available.  Contact us for further information.

Seminar Programme

  • Introduction
    • Getting the Money Launderers
    • The Money Laundering Schemes
    • Cyprus and International Press on Money Laundering
    • The High Risk Clients

 

  • Risk Based Approach 1
    • Other High Risk Clients
    • Top 10 (Questionnaire, Invoices, Banks) Clients
    • ISRs/MOKAS Clients
    • Panama Papers Clients
    • Convicted or with Charges/Investigation Procedures against them for Financial Crime Clients
    • Sanctions (EU, UN, US) Clients
    • Declined/Terminated Clients
    • Cash Transactions Clients\
    • Submission of Written Complaints to Firm or Authorities Clientson-Face-To-Face Clients
  • Risk Based Approach 2
    •  Cyprus National Risk Assessment
    • RBA Framework
    • RBA Background
    • RBA Sources of Information
    • RBA Weighting Risk Factors
    • RBA Monitoring
    • Customer Risk Factors
    • Countries and Geographical Areas Risk Factors
    • Products, Services and Transactions Risk Factors
    • Delivery Channel Risk Factors