This course delivers practical guidance on what needs to be done to comply with money laundering and terrorist financing obligations when starting a new business relationship.
With the continuing focus by the Regulator on financial crime prevention, and particularly AML, it is vital that firms are able to demonstrate that an effective risk based approach has been adopted.
The process of completing ML Risk assessments and appropriate customer due diligence (CDD) is explained in detail, with examples and case studies. There are many cases of firms getting this wrong and being fined, so whether your firm is in the wholesale or retail markets, this course is relevant to your business.
- A sound knowledge of what the risk based approach entails
- What CDD is and why it is a requirement
- The ability to carry out risk assessments and the CDD/EDD process in a compliant manner
- The ability to evidence a risk based approach
- An opportunity to benchmark your current on-boarding arrangements
- The Risk Based Approach
- and “customers/clients”frimML Risk assessments for the
- Understanding who is a “customer/client” for AML purposes
- Customer Due Diligence (CDD) including
- Standard, Simplified and Enhanced Due Diligence
- Identification and verification
- Politically Exposed Persons (PEP)
- Terrorist financing, Trade and Investment Sanctions
- Ongoing monitoring
- Prepare for MLD5!
Course aimed at: Compliance, the Money Laundering Reporting Officer, individuals involved in client On-Boarding and Senior Management
This course can be delivered onsite or as an instructor lead course at a firm’s office.
If you would like to discuss your training requirements in more detail please contact Graham Dix on +44 (0)20 7484 3987 or your usual ACA consultant.