Money Laundering & Terrorist Financing - An Update
Enforcement action for anti-money laundering breaches is set to increase, with more criminal prosecutions, civil penalties and disciplinary proceedings the likely outcome.
The international anti-money laundering authority, the Financial Action Task Force, reported that the UK is unable to demonstrate that its level of prosecutions and convictions of high-end money laundering is fully consistent with its threats, risk profile and national anti-money laundering / counter-terrorist financing policies. The UK authorities are bound to take note.
This course is designed to keep solicitors, accountants, financial services providers, and all those working in the regulated sector up-to-date with these threats and risk profiles, as well as providing an update on the criminal offences, the Regulations and recent money laundering cases.
Money Laundering Regulations 2017 have come into force, and together with the provisions contained in the Criminal Finances Act 2017, these changes represent the most radical reform of the anti-money laundering regime since the Proceeds of Crime Act was passed in 2002.
Failure to report suspicious activity, inadequate customer due diligence, or worse still, unwitting involvement in money laundering exposes you, the MLRO and your organisation to criminal prosecution and/or disciplinary action - so the importance cannot be stressed enough.
When a problem arises, the first question often asked by regulators or the police is - 'when did you last attend an anti-money laundering training course?'
The Regulations require regular anti-money laundering training, and although there is no prescribed period for a 'booster' course, but around every twelve months is considered a good yardstick.
What You Will Learn
This course will cover the following:
- The criminal offences
- Disclosures and suspicious activity reports
- Legal professional privilege
- Professional regulator guidance
- Money Laundering Regulations 2017
- Identifying companies and trusts
- Simplified and enhanced due diligence
- Risk modelling
- Compliance best practice
- Source of funds
- Office for Professional Body Anti-Money Laundering Supervision
- Recent cases in the courts
- Enforcement update
The course has been designed by Jonathan Fisher QC, one of the country's leading experts in anti-money laundering and counter-terrorist financing law and practice, in collaboration with Anita Clifford, a barrister practising in this area.
Quick Quiz - Test Your Knowledge: Money Laundering
2:00pm - 5:15pm
9:30am - 12:45pm
Please let us know if you wish to be notified when new dates are added for this programme