Money Laundering And The Banking Response

Overview

The new money laundering regulations have been finalised and implemented. Ensure your company is compliant and more importantly, that you stay safe with this comprehensive course.

Who should attend

Back-office and FO managers and staff, accountants, internal and external auditors.

Course objectives

At the end of this interactice two-day course delegates will:

> Understand the regulations applying to financial institutions

> Raise awareness amongst managers and employees, implementing an anti-laundering culture

> Understand and implementing internal procedures to fight money laundering

Course content

Mechanics of Money Laundering

> Who is involved in money laundering

> Money laundering process and stages

> Placement, layering and integration stages

Authorities and Regulators United Against Money Laundering

> Becoming aware of the laundering scourge

> Rationale for money laundering

Legal and Regulatory Framework for Financial Institutions

> Government and regulatory measures in the UK to fight money laundering

>The right questions: what constitutes money laundering

> Tax evasion and money laundering

Risks, Fines and Legal Sanctions for Financial Institutions

> Legal sanctions

> Fines and financial costs

> Reputation risk

Implementing the Operational Procedures

> Knowing and profiling your clients, identifying risky categories

> Controlling suspicious companies, con-men and proxies -business activity analysis

> Tracking unusual and suspicious operations, finding the right clues, understanding transfers and implementing reliable detection tools

> Implementing and securing the documentation process

> Internal safeguards and procedures