This webinar is in English.

Webinar description:

The number of cyber-attacks has been increasing steadily over the past years, evolving and becoming more sophisticated. Until now, most of the SMEs did not incorporate any cyber-security policies into their operations and so exposing the businesses to cyber-crime risks. At the same time, cyber-criminals create highly skilled and thoroughly organized teams. They continually master-mind very advanced cyber-attempts that they can implement faster than ever before to exploit vulnerabilities and weaknesses, revealing the existing cyber-security gap.

This year's pandemic lock-down and the fact that some employees are currently performing their work remotely reveal the weakness in many organizations' cyber-resilience and the necessity to gain at least basic knowledge and skills in cyber-security. To deal with the existing cyber-security gaps and present-day increased cyber-risks exposure, on 12 August 2020, the Security of Networks and Information System Law of 2020 (Law 89(I)/2020) came into force to ensure the security of networks and information systems.

AML Officers and professionals constantly update their knowledge on new laws and regulations. However, they often pay little attention to the importance of developing cyber-resilience to mitigate AML risks within the organization. The failure to comply with the current law will result in severe administrative fines of up to EUR 300,400 and an additional fine up to EUR 200,000, where the breach persists. For this reason, cyber-security has become the major area of attention of professionals from financial services organizations, financial institutions, governmental organizations, including owners of SMEs.

Understanding existing cyber-crimes and countering cyber-risks will help AML Officers, financial services professionals, representatives of governmental departments, and SMEs' owners develop sound cyber-security policies, assisting to ultimately mitigate cyber-risks.

Webinar Objectives:

1. Define in their own words what is AML
2. Define in their own words what is cyber security
3. List at least 2 types of cyber attacks
4. List 2 cyber policies that can help to mitigate cyber risk
5. Document potential cyber risks for their organizations
6. Develop relevant cyber policies and procedures
7. Apply cybersecurity terminologies in communication with Cyber/IT specialists to speak “their” language
8. Apply cyber risk awareness attitude within their organizations

The webinar is addressed to:

• AML professionals wishing to develop better understanding in cyber security field
• Financial service professionals willing to take path into AML and Cyber security career
• Heads of accounting, audit and law departments
• Accountants, auditors, lawyers looking to gain skills in AML and cyber security
• Personnel of IT/Security departments willing to refresh and update their skills

The webinar will cover the following topics:

1. Basic AML and cybersecurity terminology
2. Evolution of cybercrimes
3. Examples of cyber-attacks
4. Relevant regulation in place
5. Cybersecurity risks
6. Mitigation of cybersecurity risk