AML Compliance - Implementing the New Regulations
This webinar considers the newly implemented changes to the regime of investigation predicated by the new Money Laundering Regulations of 2017.
The changes to risk assessment and the introduction of the independent audit function effected by the new Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 will be explored.
Adopting a practical, hands-on approach the webinar will consider what you and your firm need to change now in compliance with the new regime.
What You Will Learn
This webinar will cover the following:
- How do you assess the risks?
- What new policies, procedures, staff and appointments will you need?
- What are the new rules on PEPs?
- Do you need to change anything at all?
- What do you need to do to upgrade your processes?
- What are the key changes?
- Risk assessments - the 3-stage approach
- New CDD requirements
- New beneficial owner definitions
- New politically exposed person definitions
- New data protection provisions
- What do you need to change immediately?
- Key approaches
- Independent audit functions and the 2017 regulations
- New Law Society Guidance
- A new regulator of regulators?
- Practical Responses - Delivering the Regulator's new expectations
- Implications and duties on law firms and others
- Practical ways to implement the new regulations
- Key points to watch - the problem of FoG
- Ongoing monitoring - the key duty on everyone
Quick Quiz - Test Your Knowledge: Money Laundering