ΠΕΡΙΓΡΑΦΗ

This seminar is part of the on-going training program which every firm is legally obliged to provide to its employees.

The latest changes in the Anti-money Laundering regulatory framework as well as the recent updates in the guidelines of our competent authorities create the need for further training and education. At the same time, the recent money laundering outrages create additional need to form a strong culture of compliance awareness at every level of the organization.

This program intents to stress the effectiveness of the internal systems controls and procedures that are developed to detect money laundering and gives an emphasis on the practical aspect of money laundering through the presentation of real-life money laundering schemes and examples.

This seminar contributes to Continuing Professional Development for 4 CPD Units.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

This program is specifically designed for professionals who have interaction with the customers and are responsible for applying customer due diligence in their day-to-day work.

Lawyers, Accountants, Administrative staff, Executive directors

This seminar contributes to Continuing Professional Development for 4 CPD Units.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

MODULES

Introduction

• Goal and purpose

UNIT A: Money Laundering, Terrorist Financing and Criminal activities

• Definition of money laundering
• Explanation of illegal activities
• Explanation of the three stages of money laundering Quick Questions/Quiz
• Definition of terrorist financing
• Differences and similarities between money laundering ML and TF

UNIT B:  The Compliance function

• The role of the compliance officer
• Duties and responsibilities
• Reporting Obligations
• Key international and domestic AML Bodies

UNIT C: Regulatory framework essential parts and updates

• EU AML Directive
• Authority for AML and CFT (AMLA)
• Domestic legal framework
• New requirements (public registers)
• Penalties in the Cyprus AML Law

UNIT D: Risk Based Approach & Client Due Diligence

• Risk Based Approach
• SDD & EDD
• Risk categories
• PEPS & High-risk countries
• Economic Profile (SOW)
• Third party reliance

UNIT E: Sanctions and Restrictive Measures

• Brief overview
• EU, UN, US, UK

Discussion/Q&A