The topics covered by this course are in accordance with the Prevention and Suppression of Money Laundering Activities Law of 2007 - 2019 the EU Directives and all other Directives issued by regulatory authorities in Cyprus, such as the Central Bank of Cyprus, the Cyprus Bar Association, the Institute of Certified Public Accountants of Cyprus (ICPAC) and the Cyprus Securities and Exchange Commission (CySEC) on Anti Money Laundering, Counter Terrorism Financing and Sanctions issues.
The aim of the course is to cover all the requirements set by the relevant legislation as well as the changes brought about by the implementation of the Cyprus Law and the 5th as well as the 6th EU Anti-Money Laundering Directive.The course discusses the procedures which need to be in place for compliance for anti-money laundering and counter terrorism financing and analyses practical examples.The course also covers Information Security Awareness topics and gives an in depth description of Important Information Security threats and how the Information Security Incidents should be handled.
• Recognising the key stages in money laundering
• Recognising common techniques used by money launderers
• Examining the efficiency of international standards to combat money laundering and terrorism financing
• Understanding the 5th and 6th EU AML Directive and other relevant reporting obligations
• Identifying and dealing with suspicious transactions
• Understanding and applying the "Risk Based Approach"
• Applying “Know Your Customer” (KYC) and "Customer Due Diligence" (CDD) procedures to identify and manage key risk indicators within customer relationships
• Methods for detection of ID fraud
• How to profile and monitor expected relationship activity
• Analysis of case studies and red flag indicators
• How to perform AML risk assessment
The course is addressed to:
This course is consistent out of 7 topics.
The course is delivered by someone with hands on experience. Highly practical, relevant and important and safely this course is for you.The instructor blends theory with highly practical case studies and examples derived from his long experience.
The course may be approved for up to 6 CPD units verified directly by the participant's association, regulator or other bodies which holds membership.
*Group rates available. │ **Early Bird discount may apply.
This course can be offered inhouse, customised to your business needs.
*Infocredit Professional Education division (IPE) holds the right to postpone or cancell any seminar within a logical time frame near to the start date of the seminar, in the case whereas no adequate number of participants is registered i .e. less than 6 persons and/or in the case that out of the list of registered people are not included at least 4 employed people ( as per HRDA guidelines). You can access HRDA guidelines by clicking the link: https://bit.ly/2VSWgWU
Introduction & Meeting with the participants
Cyprus AML Legislation and other recent developments
RBA – Practical Implementation, EDD & SDD
5th & 6th EU Directive (in depth analysis) and Recent Developments
UN, EU & US Sanctions
Discussion, conclusion and assessment
Method of instruction
Started his career in PricewaterhouseCoopers as auditor for Financial Services companies where he qualified as a Chartered Accountant. Then moved to Abacus Limited in 2009 as a portfolio manager. Since 2013 he moved to the compliance department of the firm. In 2014 he became an ACAMS member and soon after CAMS certified.
Nassos is also serving as an Information Security Officer while simultaneously heading the Compliance Department since 2015.
He gave a number of presentations on both Compliance and Information Security in Cyprus and abroad.
Paltayian is also a founding member and Vice chair of the ACAMS Cyprus chapter, Vice chair of the ICPAC Compliance committee, Vice chair of the CFA Compliance committee He was also the leader of the DNFBP module during the National Risk Assessment and participated in the task force for the issuance of the FATCA and CRS Cyprus Guidance Notes.