Risk Based Approach to AML & CTF

3 days 23-25 May 2017, London UK £3,645.00 + VAT* Download brochure Add to basket

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Overview

Attend this intensive and highly practical 3-day training course and learn the best practice techniques to:

  • Design an effective Anti-Money Laundering Program to support your organization's Compliance and regulatory obligations
  • Establish and strengthen controls to combat terrorist financing through financial institutions
  • Understand best practices and guidelines designed to detect, investigate, report, escalate and resolve red flags, money laundering, and terrorist financing issues
  • Understand money laundering and terrorist financing processes
  • Identify both common and uncommon red flags and questionable behaviour
  • Be aware of the dangers of money laundering to clients, your organization and yourself
  • Be well prepared to help prevent criminals from using your firm to launder money and facilitate terrorist financing

PLUS: Gain appropriate knowledge and learn definitive risk management strategies through simulation exercises, class lecture, and group work to design and execute effective Anti-Money Laundering and Anti-Terrorist Financing Programs and Policies 

 

Who should attend

This course has been specifically designed for the benefit of: 

  • Middle and Back Office Personnel
  • Front Office Sales Personnel
  • Compliance, Risk, Governance Officers
  • Regulators
  • Career Switchers into Compliance
  • Administrative Officers
  • Supervisors
  • System developers
  • Risk managers
  • Reporting specialists

The course assumes a general familiarity with financial markets, instruments and financial services.

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

London
Mario DiFiore

The course director is Assistant Dean, Senior Advisor and Adjunct Professor, Gabelli School of Business, Fordham University, New York (Former Co-Global Head and Director of Compliance Training, Deutsche Bank AG, Commercial and Investment Bank)

He joined Fordham’s GSB Administration, July 2010 after a 25 year career on Wall Street and the Federal Reserve Bank of New York. Prior to joining Fordham, he was Director and Co-Global Head of Deutsche Bank AG’s Compliance Training Group for the Commercial and Investment Bank (CIB), as well as the Head of Americas Compliance Training. He was responsible for one of the largest financial regulation and Compliance training programs on Wall Street.

In addition to his career at Deutsche Bank AG, the course director was an Assistant Director at Ten Squared LLP, a medium-sized hedge fund, as well as the Continuing Education Manager for Prudential Securities. He began his career with the Federal Reserve Bank of New York where he spent over 12 years in the Research and Statistics, International Affairs, and Public Information areas.

In addition to his current university post teaching at Fordham, he has taught Finance, Economics, and Business courses at New York University, Baruch College of the City University of New York, Pace University, SUNY Empire State College, and the Mountbatten Institute (St. Mary’s College of the University of Surrey, UK). He is a former member of the Securities Industry and Financial Markets Association (Continuing Education Committee) and serves as a consultant to Deutsche Bank AG. The course director received his MBA and BA (summa cum laude) from Fordham University.

Venue

London

Central London Hotel Venue

All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

Related Courses

Inhouse

We can bring this course to your company's office.

If you simply want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. Our tailored learning solutions are designed specifically for your organisation’s needs.

We’ll be here to support you every step of the way. From the initial consultancy through to evaluating the success of the full learning experience. We'll ensure you get the maximum return on your training investment.

Find out more

Agenda
 

Day 1

Setting the Stage: Anti-Money Laundering and Combatting Terrorist Financing Basics

  • Current international cases, fines, and legal judgments
  • AML/CTF success stories
  • Corporate and economic implications of AML/CTF
  • Key terms, definitions, and institutional differences
  • Legal and regulatory background to AML/CTF

The Money Laundering Process

  • Placement, layering, and integration
  • Red flags: unique to each business line
  • Relationship to terrorist financing and blocked assets
  • Roles: who’s responsible for what?

Terrorist Financing Operations

  • Funds generation
  • Transactions
  • Legal and illegal means
  • Relationship to money laundering


Case Study and Simulation Exercise 1: Delegates will, through review of a case, be assigned roles (customers, business line, middle and back office, compliance and legal, regulators) to analyze transaction data for possible money laundering activity/terrorist financing, escalation, reporting, investigating, and resolution)


Where It All Starts: The AML and CFT Rubric: Establishment

The Anti-Money Laundering and CFT Program

Design of an AML/CTF Policy

Effective Elements of the AML/CTF Program Policy

Identifying the Effective Elements

  • Designation of an AML and CTF Compliance Officer (s)
  • Auditing for AML and CTF: internal and external
  • Ongoing training
  • Due diligence and customer identification
  • Scenario, control, and systems testing
  • Supervision
  • Reporting and information flow: suspicious activity reports
  • Surveillance, systems, and investigations
  • Staffing, credentials, experience, and characteristics
  • Escalation
  • Record keeping


Day 2

Combating Terrorist Financing

CTF Goal: to aggressively identify, escalate and deter terrorist organizations’ funding and transactions networks

FATF Recommendations

FATF Global Money Laundering and Terrorist Financing Threat Assessment (GTA)

Risk Assessment Methodologies

FATF: Inclusion vs Exclusion

CTF Resources

  • Intelligence analysis
  • Sanctions administration
  • Enforcement
  • Financial regulatory action
  • Policy expertise

Implementation and Application of the Rubric

Policies, Procedures, and Controls: Implementation

  • Designation of an AML Compliance Officer
  • Auditing for AML: internal and external
  • Ongoing training
  • Due diligence
  • Customer identification
  • Supervision
  • Reporting and information flow: suspicious activity reports
  • Surveillance, systems, and investigations
  • Staffing, credentials, experience, and characteristics
  • Escalation
  • Record keeping

Risk Based Approach

  • Geography and country risk
  • Business risk
  • Product risk
  • Reputational risk
  • Transaction risk
  • Client risk
  • Process risk

Suspicious Activity Reporting

  • Trigger areas
  • Information flows
  • Preventing terrorist financing through AML


Case Study and Simulation Exercise 2: Response to Regulatory Review and Implementation of Follow Up Measures. Delegates will simulate A) regulator’concluding a review of a faulty AML Programme at a mid-sized financial institution and B) the financial institution’s response to the AML review and sanctions


Danger Zones: Failures

  • AML/CTF compliance policy
  • Faulty testing
  • Unsatisfactory training and non-compliance with training requirements
  • Insufficient resources: systems, technology, and staff
  • Lack of follow up: connect the dots

Organizational Settings

  • Laws, rules and regulations
  • International organizations
  • Information sharing
  • Industry organizations

Forensic Review of Surveillance and Investigation

  • Dissecting an AML/CTF Investigation
  • A day in the life of an AML/CTF surveillance team
  • Identification of red flags
  • Business line specific AML/CTF issues
  • Technology and AML/CTF: technology-based schemes, and technology-based monitoring, surveillance, and detection


Day 3

Know Your Customer Best Practices

  • Policy statement
  • Rationale
  • Customer identification programme
  • Application of the customer identification programme
  • Covered customers
  • Data collection: individuals, institutions, official/governmental organizations
  • Verification: documentary vs non-documentary
  • Logical consistency
  • Additional measures
  • Lack of verification
  • Data from external financial institutions
  • Service providers
  • High risk accounts

Special Topics

  • Shell banks
  • Politically exposed persons
  • Correspondent banks and foreign banking relationships
  • Enhanced due diligence
  • Identity theft
  • Charitable organizations
  • Volume

Monitoring Customer Relationships

  • Consistency
  • Pattern analysis
  • Systems
  • Aggregation
  • College knowledge vs flagrant indifference
  • Risk rating
  • Monitoring credit relationships

AML/CTF IN Practice: Implications for Business Lines

  • Internet gambling
  • Insurance fraud
  • Tax evasion
  • Wire transfers
  • Check collection
  • Funds transfer and money transmittal
  • Card dystems
  • Currency and monetary systems


Class Exercise and Simulation 3: Development of an AML Program Policy


Round Robin: AML/CTF and Sanctions Regulation Development

Course summary and close

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product