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INTRODUCTION TO ANTI - MONEY LAUNDERING (AML) AND COUNTER TERRORISM FINANCING (CTF)

Description

Course description: 

As criminals invent more and more ways to cover up their illegal activities, so does the need for professionals in these industries to understand their obligations under the Law but also to meticulously follow specific regulatory compliance procedures.The need for the best and most thorough management of the risks that may arise in financial transactions with clients / partners, is increasingly imperative for the financial sector as well as for lawyers and accountants.

The purpose of the seminar is to cover the provisions of the legislation on the Prevention and Combating of Money Laundering and the forthcoming changes with the implementation of the 5th and 6th European Directives. During the seminar the main parameters of the risk-based approach will be explained, the main actors, as well as the procedures to be followed by the responsible entities will be examined. In addition, there will be analysis and discussion on practical examples and introduction to information security.

 

Course Objectives:

At a Knowledge Level

  1. Describe techniques used by criminals for money laundering & terrorist financing purposes.
  2. Name and describe the 3 stages of AML & CTF.
  3. Separate transactions that may violate the basic provisions of the main economic sanctions regimes in Europe, the United Nations and the United States

At a skills level:

  1. Develop and implement a "risk-based approach" for each client.
  2. Document the implementation of enhanced and simplified "due diligence measures" in proportion to the potential risk arising from the respective professional relationship / agreement.
  3. Execute and comply with the basic provisions of the main economic sanctions regimes in Europe, the United Nations and the United States.

At an Approach level:

  1. Cooperate with the supervisory authorities / supervisors accordingly
  2. They compare their internal procedures with the provisions of the Law.
 

The course is addressed to:

  • Regulatory compliance officers of administrative service companies.
  • Executives / regulatory compliance officers of Banks, Investment Services Providers and Insurance Companies.
  • Supervisory Officers - Supervision Department.
  • Executives exercising auditing responsibilities in companies (such as internal auditors, certified auditors and operational risk management executives).
  • Lawyers, Accountants, Brokers and all liable entities, based on the relevant legislation.

 

This course covers 7 topics.

 

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 his long experience.

 

CPD accreditation:

*The course may be approved for up to 6CPD units verified directly by the participant's association, regulator or other bodies which holds membership.

** For the Cyprus Bar Association Members this counts as part of their Continuous Professional Development, qualified as Non-verifiable CPDs.

 

*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

  • Introduction & Meeting with the participants
  • ML Stages (Placement, Integration, Layering)
  • Examples
  • Compliance officer’s duties
  • Financing of Terrorism
  • Differences between money laundering and terrorism financing
  • The risk of penalties where AML/CTF rules are not applied
  • Company staff
  • MLRO (Money Laundering Reporting Officer
  • MOKAS
  • Tipping Off
  • Due diligence procedures
  • KYC policy elements
  • Client identification documents (passports)
  • What is ‘’fake news
  • ’’Why does fake news spread so much?
  • The future of fake news
  • Identification, of red flags
  • Recording of red flags
  • Evaluation red flags
  • 5th EU AMLD – What you need to know
    • UBO
    • PEPs
  • 6th EU AMLD - What can we expect
    • Unified list of predicate offence
    • Additional money laundering offences: Aiding and abetting, attempting and inciting
    • Extension of criminal liability to legal persons
    • Discussion, conclusion and assessment

Summary

Course dates

Sep 20 - Sep 20, 2023

Class hours

09:00 - 16:00

Subsidy

HRDA Approved

Training certificate

Infocredit Professional Education (IPE)

Method of instruction

online

Language

English

Educational material

digital

Laptop

required

Payment

online

Course Instructors

Nearchos Ioannou
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