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Anti-Money Laundering and Combating the Financing of Terrorism: Legal and Regulatory Compliance

This course aims to equip delegates with the knowledge and techniques that they need to remain compliant with the laws and regulations to deter money laundering and the financing of terrorism. Money Laundering and Financing of Terrorism is now regarded as two of the key risks and concerns of financial institutions and other businesses in the UK and internationally. The course will examine the linkages between drug trafficking, organised crime and terrorism with the international and governmental responses, EU Money Laundering Directives and relevant aspects of UK laws (Proceeds of Crime Act 2002, Money Laundering Regulations 2003, Terrorism Act 2000, Anti-Terrorism Crime and Security Act 2001). Additionally, the course will interpret how the requirements of the relevant laws and regulations can be implemented to protect organisations and their staff from the inherent risks within a proportionate risk-based approach. Special attention is given to the differing money laundering risks associated with complex structures, including most types of UK and offshore trusts, international business companies and trust corporations, tax havens, as well as the more common account vehicles for individuals and companies. Emphasis is placed on the necessary policies, procedures and controls including the recognition and reporting of suspicious activity, as well as practical application of techniques to 'manage down' the risks faced by organisations and staff when dealing with client assets and funds. The course is highly participative.

Curriculum	Compliance and Regulations
Duration	1 day
Audience	Anti-money laundering, Compliance and Audit Personnel, Managers and all staff with account responsibility, operations staff, lawyers and accountants.
Learning Objectives	After taking this course, the student will be able to: Be up to date with the recent changes in the relevant laws and regulations that impact on them and their organisations, Be able to apply acquired knowledge and skills to deter money laundering and the financing of terrorism, Understand simple and complex account structures from an anti-money laundering perspective, Be able to apply internal anti-money laundering policies, due diligence and other procedures effectively, Be alert to the warning signals (“red flags”), Know how to recognise and report suspicious activities and transactions, Apply monitoring techniques and maintain appropriate records, "Think risk"
Topics Covered	International context Legal and regulatory framework, offences and penalties Identity verification and full due diligence (“KYC”) Use of exemptions, regulated introducers and intermediaries Recognising and reporting suspicious activity and transactions Monitoring account/relationship activity In-depth examination of simple and complex financial structures and inherent money laundering risks (offshore and onshore) Tension management between client privacy, transparency, international regulation and the competitive environment, including tax evasion /avoidance and fraud The implications of a risk based approach
Dates	15 May 2006
Cost	£495 + VAT
Location	London
Delivery Method	Classroom. This course can also be run in-house.