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AML – New Entrant Programme – Suitable for all firms with AML responsibilities, i.e. Estate Agents etc

aml template policy procedures ctf money laundering

AML & CTF New Entrant Programme 

Suitable for any firm with AML responsibilities like Estate Agents etc

The UK is one of the world’s largest and most open economies, whose strength is built on extensive and productive relationships across the globe. Ministers have the responsibility for national security and financial services, so they want the UK to continue to be an attractive country for legitimate business and a leading global financial centre. But they also recognise that the UK’s openness and status as a global financial centre exposes it to the risk of illicit financial flows.

Money laundering and terrorist financing are significant threats. Recent terrorist attacks in London, Manchester and elsewhere highlight the importance of the fight to deprive terrorists of the resources they need. Serious and organised crime has been estimated to cost the UK tens of billions of pounds every year. That is why we must continue to crack down on dirty money, strengthening the UK’s security and prosperity as well as that of our partners overseas.

What Makes Compliance Consultants Courses Different?

Objectives

Course Content

Who Regulates This?

AML Policy & Procedures – Buy Now!

The UK’s Initial Risk Assessment and the Risk Based Approach

CDD, KYC, IDV, EDD & DDD – What do These Mean?

Dealing with Non-Personal Entities or Challenging Relationships

Sanctions

AML Typologies

Transaction Monitoring  – The Safety Net

Escalation Process

Other Key issues

Course Conclusion

Wrap up
Summary
Open Forum

Background of the Trainer

Course Director

Lee has worked with a range of organisations from smal start-ups through to FTSE100 companies, including foreign banks and institutions, many that have had difficulties identifying and managing compliance risk, and helped them develop effective, robust systems. He has adapted his experience to develop this course and supporting materials with the practical skills based focus. Lee’s skills, qualifications and experience make him ideal for supporting anyone wishing to develop top-class knowledge in the management of Anti-Money Laundering and Counter Terrorist Financing.

Course Summary

As a new entrant to either the financial services industry or other businesses required to have in place effective AML & FCC controls, the range of requirements and responsibilities can seem overwhelming. There is also a danger of thinking AML is the only, or at least the biggest risk facing a firm. This is not true but it is a very high profile risk and the consequences of poor management or failure are very severe in both reputational and financial penalty terms. The MLR2017 has widened the scope considerably for AML procedures so that virtually all cash or near cash handling institutions have a responsibility to prevent financial crime.
At the heart of a successful AML process is a risk assessment, leading to a risk-based approach and a clear system for on-boarding new clients as well as reviewing existing relationships.  This workshop style, highly interactive course describes what “good” looks like, how to achieve it and how to understand why it is such an important feature of corporate governance.

Who Should Attend

Anyone with an interest in the subject especially “Relevant persons” under the UK MLR 2017, i.e. Estate Agents etc;
  • Where previously only holders of a casino operating licence were covered by the regulations, they now pertain to all gambling providers
  • Trustees now have greater obligations in relation to revealing the beneficiaries of trusts
  • Those engaging in financial activity on ’an occasional or very limited basis’ are not covered by the regulations. ’Occasional or very limited’ is defined as:
    • annual turnover from financial activity of less than £100,000 (this figure was previously £64,000)
    • activity limited to transactions not exceeding EUR 1000 per customer
    • financial activity ancillary to a larger business
    • financial activity not more than 5% of the total turnover of the larger business
    • financial activity only offered to customers of the main business
Knowledge Pre-requisites
None required
from £250 pp – Minimum 5 persons

Format

  • Duration is as a full day classroom workshop – Your Venue or we can arrange local venue at additional cost.
  • Attendees can also purchase our AML & CTF Policy & Procedures Document at 50% discount

Call us on 0207 097 1434

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