The aim of this module is to provide Senior Management of DFSA-regulated firms with a concise update on the implications, both for their firms and for them as individuals, arising from the latest Money Laundering laws and regulations. It is imperative that Senior Executive Officers (SEOs) and other DFSA Authorised...
The aim of this module is to provide Senior Management of DFSA-regulated firms with a concise update on the implications, both for their firms and for them as individuals, arising from the latest Money Laundering laws and regulations. It is imperative that Senior Executive Officers (SEOs) and other DFSA Authorised Individuals fully understand their collective and personal obligations to avoid suffering fines and reputational risk.
This module is part of our DFSA SEO & Compliance CPD Programme, designed to meet the DFSA's mandatory Continuing Professional Development (CPD) requirements. The DFSA require Senior Executive Officers (SEOs), Compliance Officers and Money Laundering Reporting Officers (MLROs) to complete 15 hours of relevant CPD training every 12 months.
Each of the four modules in our programme consist of a two-hour training course delivered in the DIFC, with one module being delivered every quarter. Upon completing each module, participants will be awarded 2 CPD points. Participants can opt to take one or two modules on a standalone basis or the complete programme and attain eight CPD points.
Who is this for?
Strictly reserved for Senior Management and Senior Compliance staff of DFSA-regulated firms.
- What are money laundering and terrorist financing?
- The social imperative – why it is important
- The regulatory imperative – why it is important
- The international AML environment
- AML/CTF framework and expectations of the regulators
- The Five pillars of an effective AML programme
- The firm-wide AML risk assessment
- Customer Due Diligence (CDD) and Monitoring
- Sanctions (OFAC)
- Role, Responsibility and Accountability of senior management
- The importance of an AML and Compliance Culture
After attending this course, participants will be able to explain:
- The importance of effective Financial Crime Compliance
- The expectations of the DFSA in respect of your firm’s compliance with Anti-Money Laundering (AML) laws and regulations
- Those aspects of the laws and DFSA regulations for which you are personally responsible
- The need to assess the financial crime risks posed by your firm’s business model and customer base
- How to benchmark your firm’s AML arrangements to ensure you continue to have appropriate arrangements in place to meet all relevant obligations