Anti Money Laundering – Financial Crime Compliance

£1,050.00 +VAT

This course can also be presented face to face in-house or via live in-house webinar.

Blockchain Technology, De-Risking And Money Laundering In the Financial Services Sector (Banks & Non Banks)

Anti Money Laundering Course Content:

What Do we Mean by Money Laundering and How is It Done:

  • What is money laundering – the Predicate Crimes
  • The Three Stages
  • Banks – (Case study)
  • Insurance companies – (Case Study)
  • Offshore Vehicles – (Case Study)
  • Trusts- (Case Study)
  • Investment Companies – (Case Study)
  • Money changer – (Case study)
  • Other vehicles behind money laundering
  • Making dirty money clean

Financial Crime Prevention Practices and Effectiveness of KYC Policies

  • What must be in place?
  • Three plus one lines of defence model
  • Risk assessment process
  • FATF, TI CPI, Wolfsberg, JMLSG
  • CDD, KYC & IDV
  • SDN’s, Dual use goods, WMD
  • Politically Exposed Persons and other High Risk Clients
  • KYC: Specific Identification & Verification Issues.
  • Managing Methods of Money Laundering
  • Legitimate but potentially high risk structures

Case study:  Managing CDD in practices

Money Laundering Regulations 2017

  • General risk assessment
  • Risk mitigation policies
  • Level of due diligence
  • Reliance on third parties
  • PEPs
  • New Criminal Offence
  • Office for Professional Body Anti-Money Laundering Supervision (OPBAS).

Risk Based Approach

  • What does this mean?
  • Formula – RAM
  • Three categories of risk
  • Four controls driven by risk category
  • How should it work?
  • What are the key differences?
  • Enhanced Due diligence – what does this mean

Exercise – the Risk Based Approach Demonstrated and Explained

New emerging trend worldwide to fight financial crime – where are we at present

  • Distributed Ledger Technology
  • Blockchain Technology
  • Uses/Effects/Advantages in different sectors -private/ Govt /Para-statal Bodies
  • Best Practices Worldwide

Bulk cash smuggling and mobile technologies

  • Money laundering risks to banking institutions.
  • Money Laundering risks to other non banking institutions / Govt Sectors
  • Methodology of bulk cash smuggling
  • Red flags which institutions should monitor.
  • Why mobile technology poses the next big money laundering threat.

Case study –  to illustrate the risks

Sanctions – Brief Overview

  • Who sets them & why are they set?
  • Who is impacted and what are they?
  • OFAC
  • How should an institution screen for them?
  • Can we adopt a risk based approach when tolerance is zero?

Case study –  a potential sanctions issue

Electronic AML Solutions & Artificial Intelligence (AI)

  • Benefits
  • Functional components
  • AI
  • Internet Banking
  • Internet Casinos
  • Prepaid Cards and E-Cash

Case study – AI in action

De-risking and AML in the Financial Sector

  • Impact of de-risking
  • From banks to non-banks
  • The Panama and Paradise Papers fallout
  • Shell companies identified
  • Trusts
  • Bearer Bonds & Securities
  • The inherent risks in doing international business
  • Processing international
  • Preparedness of financial institutions to show examiners that there’s a robust due diligence and investigation process in place
  • Identifying these companies and the associated names.

Case Study – The impact of de-risking

Specific Identification & Verification Issues

  • Trust nominee and fiduciary accounts
  • Corporate vehicles
  • Introduced business
  • Client accounts opened by professional intermediaries
  • Non face to face customers

Case study –   a complex trust structure examined

Counter Terrorist Financing

  • Differences and similarities between ML and TF
  • Detecting TF
  • Informal Value Transfer Systems
  • Charities / Non-Profit Organisation

 Suspicion & Escalation

  • What must banks have in place?
  • An effective escalation process
  • Concern versus Suspicion
  • Getting more information
  • Tipping off
  • Access & Process
  • Communication lines
  • Suspicious Activity Reports / Suspicious Transaction Report
  • The importance of a direct link
  • Whistle blowing

Case study – an escalation

Cyber Risks – New Technologies

  • Cyber crime typologies
  • Internet Banking
  • Internet Casinos
  • Prepaid Cards and E-Cash

Case study –  Consider a cyber breach

Examples of Challenges that arise when  Managing Methods of Money Laundering

  • Case study on: A Piecemeal Approach to Financial Crime

  • Case study on: Failure to Connect the Dots Across Systems

  • Case study on: Cost Driven to the Detriment of Prevention

  • Case study on: Doing Too Little Too Late

  • Case Study on: Neglecting Organizational Behavior Changes

Open Forum Talking Points

  • AML Policies and Procedures – What is the difference and why are they important?
  • Probability of an offence crystallising
  • Risk of not reporting
  • Understanding what ML & TF is – dispelling the myths!
  • Government and other Sanction risk in practice
  • Understanding the difference between KYC – ID&V – CDD
  • Profiling customers – what does it mean?
  • What do you do if you are suspicious?
  • Recognising and handling suspicious transaction reports
  • Human factors in money laundering risk management
  • Abuse of structures and financial services provider


Background of the Trainer

Your course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer, having gained distinctions in the exams. He is a subject matter aspect on all aspects of retail, corporate and global banking, including risk management and regulatory compliance. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. He has delivered extensive programs in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer at the world’s biggest global bank.

Anti Money Laundering Course Summary:

This highly interactive two day course has been prepared for the financial services industry and is suitable for both banks and other financial institutions with AML obligations.

It covers the key aspects of FCC as follows:

  • What is Money Laundering and how is it done in practice?
  • What must financial institutions have in place?
  • Who makes the rules and enforces them?
  • Best practice guidelines versus mandatory requirements
  • The three lines of defence model
  • The risk based approach
  • Risk driven controls
  • Dealing with high risk clients including PEPs
  • MLR 2017
  • New emerging technologies
  • Application of DLT
  • Bulk cash, smuggling and mobile technologies
  • Sanctions
  • Electronic AML solutions
  • De-risking as a response to AML
  • Specific CDD issues – Trusts, corporations and other non-personal entities
  • Counter Terrorist financing – the differences from AML and the challenges
  • The escalation process. Transaction monitoring, SAR’s
  • Managing tipping off risk
  • Examples of FCC poor practice – easy mistakes to make
  • Cyber risks
  • Open forum with a suggested agenda of 11 points

Cyber resilience and cybercrime are key risks for many organisations at the moment and we have seen the consequences in the UK for challenger bank TSB.

Who should attend:

Officers from both financial and non-financial industries:

  1. Banks, Insurance companies, Trusts, Offshore management companies, Investment Companies, Leasing companies, Construction companies & Real Estate agencies, Money changers, IT industry, Gaming Industry, those dealing in precious stones, Stock brokers, Consulting firms, Business owners, Private hospitals, Importers/Exporters, Internet based businesses, and all organisations wishing to limit their money laundering exposure risk.
  2. Key players focussing on Financial Crime Prevention measures and establishing a robust systems to combat financial crimes i.e Regulatory bodies, Investigators / Fraud Examiners, Tax officers, Govt officers, Good Governance, Consultants, Risk and Compliance professionals, MLROs, Internal/External auditors,  Senior  managers  and  Top  management,  IT  officers, Accountants/Solicitors and other professionals involved in the prevention of financial crimes.

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30-31 October 2018, 11-12 April 2019, 13-14 November 2019