Money Laundering - Key Concerns & New Directions

Introduction

There is much uncertainty in AML thinking at the moment. 2017 Regulations are with us, albeit finalised at the last minute, with extra things to think about, including new risk assessments, new officers and new beneficial owner provisions. Couple that with the ongoing fraud debates and concerns about the implications of Brexit and the recent cyberattacks on the NHS and major law firms and there is much to discuss.

Adopting a practical, hands-on approach, this 3-hour seminar seeks to plot a safe passage through the heavily-mined waters of frauds, financial crimes, money laundering and corruption. Can you trust anyone nowadays?

What You Will Learn

This course will cover the following:

• What does the law currently require?
• UK legislation and regulation - financial crimes and AML
• The links to terrorist financing
• The Money Laundering Regulations 2007 - and 2017
• CDD and Ongoing Monitoring as the law currently stands
• The key concerns
• Key offences
• How do I know if I am suspicious?
• The role of the MLRO
• Principal and ancillary offences
• Tipping off
• The Regulations - current and future requirements
• Source of funds - do we question the bank of Mum & Dad?
• The problem of FOG - fraudulently-obtained, but genuine documents
• CDD and beneficial owners - is it easier now?
• A culture, not an event - ongoing monitoring
• The New Direction
• Mossack Fonseca and the new push towards openness
• HMG calls for evidence on the consent regime
• International (and national) collaboration on combating a global problem
• Is 'tipping off' dead?
• Practical Responses - Delivering the new agenda
• Do you need to change anything?
• Do we still need to obsess about ID - when recent case-law acknowledges that it can all be false anyway?
• OM - the real secret to unravelling suspicious matters

Quick Quiz - Test Your Knowledge: Money Laundering