In this highly interactive and practical workshop, delegates will be provided with the opportunity to develop their AML and CFT knowledge and personal confidence in managing financial crime compliance. This course can be provided as a one day or two-day programme.

This will include developing a deeper understanding of key international AML and CFT laws and regulations, including those in key financial centres such as the UK, EU and USA, and of the framework of systems and controls that regulated firms are required to implement to manage and mitigate the risk that they are used by criminals or by the financiers of terrorism.

During the day, you will learn more about the role and responsibilities of the MLRO and Nominated Officer, and of the key responsibility to oversee a life-cycle of financial crime risk management according to the risk-based approach.

This will include having an opportunity to perform a risk assessment; review the risk-based approach to client onboarding including when and how to conduct enhanced due diligence checks and monitoring; and how to manage an effective suspicious activity reporting regime according to local and legal requirements. This includes reporting to the local financial intelligence unit and according to whistle-blower procedures.

The day will end with an FAQ session, when delegates will be provided with one final opportunity to clarify and confirm their understanding of all that has been covered.

Course Overview and Expected Learning Outcomes

Delegates will learn more about the international regulatory hierarchy that is driving changes in financial crime compliance, and of the latest developments concerning inter-government led efforts to improve transparency in beneficial ownership, mitigate tax evasion and identify bribery and corruption.

The course will provide sufficient direction and information to delegates to enhance the understanding of why laws are changing and what firms should aim to achieve when they implement the associated changes in their operations.

The course deepens delegates’ knowledge of risk and control frameworks in the regulated industry and is designed to enhance delegates’ ability to understand how a comprehensive framework of risk controls can help firms effectively manage various types of financial crime risk, and what the expected outcomes are from this activity.

Keywords and topic areas

  • Financial Action Task Force, G20, OECD, Basel, Transparency International, United Nations
  • Fourth EU Directive, UK Money Laundering Regulations 2017, POCA 2002, Terrorism Act 2000, Bribery Act 2010, Criminal Finances Act 2017, US Patriot Act and Foreign Corrupt Practices Act
  • UK National Crime Agency, US FinCEN, Europol, Egmont Group
  • Advanced legal and regulatory learning and analysis
  • Senior Manager Regime, and the role and responsibility of the MLRO and Nominated Officer
  • Systems and controls framework
  • Emerging transnational organised crime risk threat assessment and trends including: money laundering; financing of terrorism and proliferation; fraud; sanctions evasion; tax evasion; bribery and corruption; modern slavery and human trafficking
  • The risk based approach and performing a risk assessment
  • Customer Due Diligence; Simplified, Standard and Enhanced Due Diligence risk management
  • Investigating and reporting knowledge or suspicious activity
  • External reporting standards and whistleblowing procedures
  • Financial crime compliance reporting and management information

At the end of the course delegates will be provided with a certificate attesting to their attendance and participation.

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If you would like to learn more about how we can help, we would be delighted to discuss your needs and how we might create a solution for you.