Anti-Money Laundering & Bribery - Chapter & Verse in One Day

Introduction

This practical one-day in-person seminar is suitable for MLROs, their deputies, compliance officers and their teams and will cover all you need to know on the UK's AML and Bribery laws and practice.

What You Will Learn

This course will cover the following:

Anti-Money Laundering

• What is money laundering and who is trying to launder money through your firm?
• Key legislation including the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Criminal Finances Act 2017 and who the key players are
• Regulator guidance and its place in your compliance journey
• The appointment of the MLRO and MLCO and their duties
• The Money Laundering Regulations
• Firm wide AML risk assessment- what is this, what is its purpose and how to undertake it
• Policies, controls and procedures overview
• What is a BOOM and what needs to be done if there is a new BOOM?
• People/staff screening - how, when and why?
• Independent AML audit
• AML Policy and what it needs to cover
• Client and matter risk assessments and what it should cover
• Client Due Diligence and what is needed for each type of client including discrepancy reporting
• Should you go electronic for your ID requirements
• PEPs, sanctions and adverse media
• The definition of tax advisor and whether this means your firm is caught
• Reliance- what is it and should you allow it - and record keeping
• Training people in the firm - methods and frequencies
• Reporting suspicions internally, to the NCA and the Suspicious Activity Regime
• Economic Crime Act and the future

Bribery

• What is a bribe?
• The Bribery Act 2010 and offences
• Hospitality, gifts and entertainment
• Bribes v gifts
• What is a facilitation payment?
• The role of the Bribery Officer and their duties
• Policies, registers and controls which need to be in place to ensure compliance