Shasat has developed this exclusive International Anti Money Laundering (IAML) programme. This is an intensive hands-on 2-day training course for professionals at all levels in the financial sector. It provides an up to date and most relevant knowledge of the anti-money laundering/ Combating the Financing of Terrorism (CFT) regulatory environment and framework. This course would provide practical exercises to examine how an organization can create an effective AML/CFT culture that does not negatively impact on customer service.
This workshop will consider the latest industry guidance around the comprehensive review and the impacts stemming from the legislations around AML, sanctions, and guidance. The impact of the legislative developments and risks to the institutions from various law-enforcement will also be examined during this interactive workshop, enabling delegates to leave with practical ideas and management solutions for their business.
This programme shall cover the latest Anti Money Laundering Directives and will enable you to be ready to implement the new laws/regulations when it comes into force imminently. The programme shall cover the latest global best practice in relation to the anti-money laundering which will be relevant for organization in different parts of the world. It will also be of direct relevance to all sectors, not just those within the Financial Services sector.
This course will highlight the relevance to different sectors from the principles, practices, and authorities discussed, and will pin-point sector-specific differences in application.
Our trainers have specialist knowledge and first-hand experience of implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), Risk management strategies, Management practices, Compliance matters such as Basel regulations, Solvency II, Anti Money Laundering regulations and number of other evolving regulatory matters. This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained.
They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentation of important concepts/approaches and case studies.
Instructor for this Programme
Andrew Tennant is a subject matter expert witness in the field of Money Laundering methodologies and typologies for the National Crime Agency, providing expert evidence in court cases. Providing guidance upon money laundering investigations, prosecutions and defence case preparation. He is also a member of the UK’s and Eastern Caribbean’s advisory groups on cryptocurrency exploitation and regulation. Andrew has been in the law enforcement arena for over twenty-three years as a UK police officer, financial investigator, confiscatory and tutor. Andrew has worked through Europe in Greece, Poland, Albania, and Bulgaria. In 2018 Andrew undertook to write the Eastern Caribbean’s Financial investigation programme and CPD, whilst based in Barbados. He has a successful track record in prosecutions around Money Laundering and fraud winning national awards in the field of criminal investigation, financial investigation and IP fraud. Presently working from Bermuda he offers specialist advice, guidance, and training in respect of an international corruption and money laundering enquiry involving politically exposed persons. He also provides senior investigating officer support and guidance in respect of restraint, confiscation, investigation, disclosure and charge preparation. Andrew is a board member of both the Anti Money Laundering and Financial Crimes agency (AMLFC) based in Miami and the Institute of Financial Accountants based in the UK.
Anti-money laundering and counter financing of terrorism
- Origin and definitions
- Latest global Scene
- Risks and impact on banks, the financial services industry and Insurance and others
- Risks and impact on the auditors and Regulators
- Risks and impact on other industry sectors within the Regulated Sector
Placement, layering, and integration techniques
- Global compliance issues
- Globalisation and the need for international regulation and cooperation;
- Inter-relationship with Anti Bribery
- Ways to prevent such failures and successful implementation
- Recent Scandals and Examples
Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF)
- The International Perspective
- International Anti Money Laundering and Counter-Terrorist Financing Regulations
- Laundering the Proceeds of Tax Evasion
- Vulnerabilities of Products and Services
- Terrorist Financing and Proliferation Financing
- Complying with Sanctions and Freezing Regulations
- Cross-border transactions
- Trust, nominee, fiduciary accounts, and Joint accounts
- Corporate vehicles such as Special Purpose Entities
- Client accounts opened by professional intermediaries
- Politically exposed persons;
- Beneficial Ownership
Operational Challenges of Screening
- Operational aspects of AML screening
- Combating the Financing of Terrorism
- Tackling false matches
- Continuous monitoring
- Screening and Privacy laws
- Costs of screening and benefits
European AML Directive & Preparing for Implementation
- 4th Directive
- Client diligence related key issues
- Risk-based approach and practices;
- Robust controls and protecting the rights of data subjects
- Inconsistencies between the EU and international requirements.
- 5th Directive – Amendments to 4th Directive
Best Practice – AML and Financial Crime Risk Management
- Translating policy at the operational level;
- Putting risk ahead of procedure;
- FATF Guidelines;
- Establishing a culture of compliance;
- Governance structures;
- Regional MLROs and reporting lines
- Escalation and Exit Strategies
- Transaction Monitoring and Filtering Framework
- Recognition, Handling and Reporting Transactions
- Post-reporting Considerations
Opting for a risk-based approach
- Requirements under the legal framework
- Impact of the new FATF Recommendations
- Underlying vulnerabilities and risk
- Risk-based approach
- Examples and Group Case Studies
KYC – Standards and Regulatory requirements
- A legal and regulatory framework
- Customer acceptance policy
- Customer identification and verification
- Role and duties of Supervisors, Auditors, and Senior management
- The AML policy, guidelines and manual
- Guidelines for opening accounts and establishing relationships
- Conducting Customer Due Diligence (CDD)
- Examples and Group Case Studies
Recent lapses and Best Practices
- UBS Scandal and FATCA;
- AML combined with the GDPR, FATCA and OECD CRS
- Use of AML procedures for FATCA
- The Paradise Papers Scandal and CRS
- Cryptocurrency and AML Regulations
- Similarities, Gaps, Implementation synergies, and technological solutions
- Risk Management Practices
- Group Case Studies
Why you must attend?
Regardless of the size of a financial institution, a sound AML program must have a good governance structure, framework and knowledgeable team. Building a good governance structure requires the support of senior executives and ultimately, the board of directors, and it includes several important and interrelated components. The first of these is the need to develop knowledge-based resources within an organization. The participants would gain the following from this programme:
- Understand how the latest changes to the AML and counter financing of terrorism (CFT) legislation will affect you
- Understand a complete KYC framework, regulatory requirements, and Challenges;
- Focus on global compliance issues and assess their impact;
- Interrelationship of AML with Anti-Bribery and other anti-financial crime laws;
- Examples and Case Studies in relation to the best practices in customer due diligence;
- Watch on suspicious transactions and the examples of the latest typologies and criminal trends
- Identify the new techniques of Launderers and related Red Flags.
- Real life examples and case studies
Who should attend?
- Professionals from the Compliance department;
- Money Laundering Reporting Officers & Deputy
- Risk Managers
- Company Directors
- In-house legal and compliance personnel
- Legal affairs directors and managers
- Company Secretaries
- Financial Controllers
- Fraud Investigators
- Heads of Accounting
- Finance Directors
- Heads of Procurement
- Operational Risk personnel; and
Venue & other info
All our training courses are organised at one of the recognised professional training facilities or training facilities at one of the 4 to 5 star hotels in the city. We will send you the joining instructions with venue details at least 2 weeks before the commencement of the training program. We provide tea/coffee, snacks and lunch during the duration of this course. You are responsible to organise your accommodation.
Changes to the conference:
Shasat may at its sole discretion change the format, speakers, participants, content, venue location and programme or any other aspect of the Conference at any time and for any reason, whether or not due to a Force Majeure Event, in each case without liability.
If you are seeking to profile your products, expertise and experience in the field of Financial Instrument then the Shasat will endeavour to assist your business objectives with opportunities such as:
- Targeted brand awareness and the association of your company with this area of expertise.
- Present your expertise to a targeted group of industry leaders.
- Exhibit your products to new prospective clients already attending this conference.
We will provide you with a platform to meet face to face with a room full of potential clients and exhibit the benefit of your services. For more information on how Shasat can help you meet your marketing objectives, Contact our customer service team at firstname.lastname@example.org
The personal information which you provide to us will be held by us in our database. You agree that Shasat may share this information with other companies in the Shasat Group. Occasionally your details may be made available to selected third parties who wish to communicate with you offers related to your business activities. If you do not wish to receive these offers please contact the database manager at: email@example.com
In order to enrol for this programme, you can either make the payment online through our website or you can opt to make the payment via bank transfer/Demand draft/Cheque payment. Our payment web page will give you all the necessary options at the time of check out. Should you face any difficulty, please do not hesitate to contact us with your selected course and our customer services team will be happy to guide you through the payment process. You must also bear all the bank charges in relation to payment of course fees and payment must be made at least 3 weeks before the course date. Registration will be confirmed upon receipt of payment and completion of registration form only.
We offer a group discount of 15% if you book a course for more than 4 people. Please contact our customer services desk at firstname.lastname@example.org to discuss further on how to obtain a group discount code.
Each participant will be issued a training certificate which will certify that you have successfully completed the training course and the number of hours you spent to complete this training course.
Please contact our Customer Service for further assistance at email@example.com
Besides our wide range of public courses, we are proud to offer our In-house training services to our Global clients. This form of training is tailored to meet your business needs and also an effective way of training your teams which saves time and money and will improve the productivity of your employees, making your business more competitive. If you would like to run this course as an In-house programme in your organisation with necessary customisation to suit your needs then please contact us today to discuss this further.