Blockchain, Crypto-assets and the 5th AML Directive

Description

This course is in English.

Course Description:

We stand on the brink of the 4th Industrial Revolution that is completely changing the world of business and transforms the way transactions are conducted.  At the same time, the anti-money laundering & terrorist financing (AML & TF) regime demands compliance from businesses, integrating such compliance to their everyday business operations, and their long-term and strategic planning, while the criminal world is taking advantage of the technological advancements to carry out their operations more efficiently and anonymously.  As a result, government and regulatory agencies keep introducing stricter directive for businesses to prevent criminal activities.   

The introduction of the 5th Anti-Money Laundering Directive (AMLD5) that was published on June 19th, 2018, amends the 4th Anti-Money Laundering Directive, and intends to make the legal situation on the cryptocurrency market more transparent.  Thus, the AMLD5 is enriched with regulations related to cryptocurrency businesses, aiming to strengthen the barriers to fight against money laundering and restrain terrorist financing.  Among other, its scope extends to new sectors including cryptocurrency and custodian wallet providers, estate agents and rental intermediaries and art dealers, increases transparency around beneficial ownership information and trusts and ensures access to trusted data in order to streamline risk mitigation processes.

While the growth of the cryptocurrency market has been exponential, it still lacks a consistent legal and regulatory framework.  In the light of this, the 5th Directive is of significant importance since it constitutes a key development and a uniform framework for regulators across the EU to adopt.  Along with this, emerging technologies, like Blockchain, are revolutionizing the compliance framework by creating new innovative and effective ways ranging from transaction monitoring and regulatory reporting to identity management and compliance improvement.

 

Course Objectives:

At a Knowledge Level:

  1. Describe money laundering and terrorist financing
  2. Describe  blockchain technology
  3. To formulate how blockchain works
  4. Comprehend about emerging technology and blockchain-reliant businesses (like cryptoexchange, and wallet providers) and how they operate
  5. Comprehend the main amendments and developments brought by the 5th Anti-Money Laundering Directive
  6. Comprehend the Name the obliged entities

 

At a Skills Level:

  1. To document whether their business falls within the updated AML provisions regarding obliged entities
  2. To perform and apply the 5th AML updated provisions and rules to internal AML policies and manualsto ensure compliance.

 

At an Approach Level:

  1. Encourage an AML culture in anticipation of potential expansion of AML obligations to further blockchain-enabled activities and services.
  2. Encourage the preparation of the ground for business-wide adoption and training in AML for blockchain-enabled projects.

 

The course is addressed to:

  • compliance officers
  • Lawyers
  • internal and external legal advisors
  • blockchain technologists and developers
  • IT professionals

who want to expand their knowledge on the AML & TF frameworks and the Blockchain technology, and provide exchange services between virtual currencies and fiat currencies, e.g. cryptocurrency exchange platforms, cryptocurrency exchanges, and others.

 

This course covers 5 modules.

 

Instructor Style:

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 her long experience.

 

CPD accreditation:

The course may be approved for up to 7 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 

Topics

  • AML Regulatory Framework
  • What is Money Laundering and Terrorist Financing
  • Obliged Entities falling under AML Regulations
  • An introduction to the 5th AML Directive
  • The 5th AML Directive Amendments
  • Electronic wallet providers and Virtual currencies
  • Introduction to Blockchain Technology: What is it and how it works
  • Blockchain Features and unique characteristics
  • Blockchain Applications: Cryptocurrencies
  • Smart Contracts
  • Introduction to cryptocurrencies
  • What is a cryptocurrency and how it works
  • Anonymity: A method to make illegitimate activities
  • The risks and challenges.
  • Introduction
  • How the 5th AML affect the cryptocurrency business
  • Use cases Cyrptocurrencies under the 5th AML Directive.

Summary

Course dates

Jun 29 - Jun 30, 2021

Class hours

09:00-12:45

Subsidy

HRDA Approved

Training certificate

Infocredit Professional Education (IPE)

Level

2

Method of instruction

online

Language

English

Educational material

digital

Laptop

required

Payment

online

Course Instructors

Christiana Aristidou

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Quick and Easy Registration

For Companies and Unemployed Individuals, the prices shown below are after the deduction of the HRDA subsidy.

More information is provided during the registration process, including the HRDA Terms and Conditions for eligibility.

VAT (19%) is included on the prices below.

 

Unemployed (CY)

309.40

Payment: JCC

Discount Policies
Participants
1st - 8th -20.00% 247.52€

For more information

+357 22398000
info@ipe.com.cy
8 seats remaining
International and non- HRDA eligible

309.40

Payment: JCC

Discount Policies
Participants
1st - 8th -15.00% 262.99€

For more information

+357 22398000
info@ipe.com.cy
8 seats remaining
Company (CY)

309.40

Payment: JCC

Discount Policies
Participants
1st -10.00% 159.46€
2nd -15.00% 143.99€
3rd - 10th -20.00% 128.52€

For more information

+357 22398000
info@ipe.com.cy
25 seats remaining

Need help to register? Please call us at +357 22398000

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