ΠΕΡΙΓΡΑΦΗ

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

• Define the term of Money Laundering and terrorist financing.
• Separate the use of terrorist revenue.
• Distinguish the differences between Money Laundering and Terrorist financing.
• Describe the recent changes in the Cyprus AML Law and the 5th AML EU Directive.
• List the duties of the Compliance officer and the responsibilities of employees with regards to AML.

• Explain the three stages of Money Laundering. 
• Explain the differences between Money laundering and terrorist financing.   
• Perform client due diligence based on the guidelines of the Cyprus Bar Association and using their knowledge from the updated AML Law and the 5th AML EU Directive. 
• Develop on-going transaction monitoring of the clients. 
• Document their thoughts and observations regarding any unusual behaviour, suspicious transaction, and suspicious activity of the clients using their knowledge related to the red flags.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

• Goal and purpose

• Definition of money laundering
• Explanation of illegal activities
• Explanation of the three stages of money laundering 
• Presentation of real-life money laundering schemes

Section 2

• Definition of terrorist financing
• Uses of terrorist financing proceeds
• Differences between Money laundering and terrorist financing

• Beneficial ownership registry
• Third party reliance 
• Public interest section in the Cyprus AML Law 

• ML penalties in the Cyprus AML Law
• Obligations for the obliged entities regarding the KYC procedures
• Tipping off explanation and penalty

• Duties and responsibilities

• Legal arrangements used by the criminals (L)
• Purpose for using the legal arrangements (L)
• ways in which criminals use the legal arrangements in order to clean their money (L) examples (L)

• Explanation of risk-based approach (M)
• Risk categories (M)
• PEPS &High-risk countries (M)
• Sanctions (M)
• When to conduct client due diligence (L)
• Risk categorization - EDD, CDD, SDD (L)
• Explanation of the firm’s KYC documents (L)

• Categorization of red flags related to Money Laundering (L)
• Important red flags related to terrorist financing (M)
• Red flags quiz (L)

• Loucas Hadjimichael (Head of Compliance, Kinanis LLC)
  Loucas Hadjimichael commenced his professional career in 2016 at Kinanis LCC as an Assistant Compliance Officer. During this period, he gained experience in regulatory compliance as well as in the fields of Anti-Money Laundering and Financial Crime. In 2018 he joined the Compliance Department of Bank of Cyprus as an officer of the financial crime where he gained extensive experience in the fields of transaction monitoring and customer review. In 2019, he joined Hellenic Bank as a Compliance Officer in the Transaction Monitoring Department where he gained the relevant experience. In 2020, Loucas joined the Customer Acceptance and Monitoring Department of Astro Bank where he was responsible of monitoring the AML Alerts of the Bank. 
  Since September 2020, Loucas is the Head of AML Compliance at Kinanis LLC. He is responsible for the on-boarding, review, and transaction monitoring of the clients of the firm.      
  He is a holder of a Bachelor degree in Business Management (BA Hons) with specialization in Anti-Money Laundering and he is currently attending a Master’s Degree in Financial Services. He is also a holder of the CySec’s AML Certificate. 
  
  
  Maria Makridou (Barrister – at – Law, LL.M, LL.B Counsel, Kinanis LLC)
  Maria Makridou holds an Undergraduate Degree in Law (LL.B) from the University of East Anglia, United Kingdom and a Postgraduate Degree in Commercial and Corporate Law (LL.M) from University College London (UCL), United Kingdom. Maria has also completed the Bar Vocational Course in 2008 at BPP Law School in London and is a Barrister-at-Law and member Honourable Society of Gray’s Inn, London, UK.
  In 2009 she was admitted to the Cyprus Bar Association. 
  Maria is a Counsel and part of the legal and corporate department of Kinanis LLC. Her main areas of practice and expertise are Company Law, Corporate and Commercial Law, Trusts and Intellectual Property. Maria focuses mainly on corporate, commercial, banking and finance transactions, mostly relating to foreign clients, as well as the creation of Cyprus International Trusts.  She also provides daily legal support to the clientele of the Firm on matters of their continuous operations and activities. Further, Maria advises clients in relation to betting and gaming regulatory matters in Cyprus.
  
  
  Over her 12 years of experience, she has developed a strong expertise in restructuring and M&A projects and has advised local and international clients on corporate restructurings, mergers and acquisitions. 
  
  
  Memberships:

• Member of the Legal and Regulatory committee of the Cyprus Investments Funds Association (CIFA);
• Member of the Intellectual Property Committee of the Cyprus Bar Association.