Anti Money Laundering

Course Overview:

This half day course provides an understanding of the current rules relating to the management of money laundering risk in the financial services sector. 

It will be of benefit to anyone new to the financial services industry, those new to the UK regime or those needing to up-date their knowledge following the implementation of the Money Laundering Regulations 2007.

Course Content:

Introduction

• Historical context – how the current regime evolved including EEA requirements and the Financial Action Task Force recommendations.
• The regulatory structure – Proceeds of Crime Act 2002 (as amended by the Serious Organised Crime and Police Act 2005), Money Laundering Regulations 2007, FSA Rules (SYSC), the Joint Money Laundering Steering Group guidance.

Individual liability – the offences, defences and penalties

• Assistance
• Failure to report
• Tipping off

Institutional requirements

The systems and controls required to manage the money laundering risk within the business

• Risk based approach
• Customer due diligence
  • Identification and verification
  • Simplified and enhanced
  • Beneficial owners
• Additional risk – Politically exposed persons
• Reliance on third parties
• HM Treasury – Financial sanctions and the Consolidated list
• The responsibilities of senior management
• The role of the Money Laundering Reporting Officer
• Ongoing monitoring and the requirement to report  
• Record keeping
• Staff training

The Joint Money Laundering Steering Group

• Interpreting the rules and guidance on their implementation

Supervision, registration and enforcement

• The role of the FSA
• Supervising agency
• Prosecuting authority

Delivering this course in-house for you to a number of participants could be very cost effective. Please call us on 020 7387 4484 to discuss this further.

If you have any questions about this seminar please write to us at post@redcliffetraining.co.uk.