Key Details

Duration: 3 days Location: Dubai, UAE Price: 9,885 AED per person
Upcoming Dates: 17 - 19 Mar 2020

Overview

Anti-Money Laundering issues tend to be amongst the most difficult facing a Compliance Officer. You need to be seen to support the business in key decision-making, whilst ensuring that the firm’s reputation and regulatory risk are managed appropriately. This module will take participants through the risk-based approach, both generally for...

Anti-Money Laundering issues tend to be amongst the most difficult facing a Compliance Officer. You need to be seen to support the business in key decision-making, whilst ensuring that the firm’s reputation and regulatory risk are managed appropriately. This module will take participants through the risk-based approach, both generally for the firm (the Business Risk Assessment) and in respect of specific customers (the Customer Risk Assessment). Finally, participants will look at both the present and the future to see how Financial Crime is changing and how they and their firms need to react to a more digital and challenging age.

This module can be taken as a standalone course or as part of the whole Diploma in Compliance, AML & Financial Crime. The Diploma consists of four modules totaling twelve days of interactive workshop learning, interspersed by examinations and assignments.

Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) Issues

  • The more challenging AML issues facing a Senior Compliance and AML professional
  • Advantages and disadvantages of having AML and Compliance under the same reporting line
  • Techniques for the grey areas of AML Compliance and how to work with management to achieve consensus
  • Commercial pressures managers face in addressing AML issues
  • Case studies: Real-life examples
  • Group discussion: Business initiative involving high AML risk - how would you advise management?
  • Developing an AML risk assessment and presenting your findings to management

Building a Risk-Based CDD Process

  • AML & CTF update
  • Offences & penalties
  • The Risk-Based Approach
  • Business Risk Analysis (BRA)
  • Exercise: Construct a BRA for your firm
  • Customer Risk Assessment (CRA)
  • Exercise: Assign risk ratings to three potential clients
  • Customer Due Diligence (CDD)
  • Recognising & reporting suspicious activity
  • Case studies: Real-life examples

The Future of Financial Crime Compliance

  • Actual and emerging best practice, incorporating FATF, Wolfsberg and Egmont
  • Other risk areas including real estate, high value goods, financial free zones
  • Current global developments including crypto currency, Unexplained Wealth Orders (UWOs), tax evasion, growing pace of legislation

After completing this module, participants will be able to:

  • Apply Anti-Money Laundering (AML) principles to their firm
  • Assess the Financial Crime Risks in their business
  • Apply Customer Due Diligence (CDD) measures to all types of customer
  • Apply the principles of Fighting FInancial Crime to future business development