Overview

FATF Recommendations and domestic legislation require financial institutions and their supervisors to identify, assess and understand the ML and TF risks they face and to take effective actions to mitigate those risks. The purpose of these requirements is to focus AML strategies and compliance efforts where the risks are higher, and at the same time, to manage more effectively the costs of compliance and to reduce the firm’s exposure to ML and TF risks.

ML and TF risks can be quite diversified and complex as ML and TF techniques continuously evolve, and their identification and mitigation could be challenging for firms. The costs of compliance are increasing, and so is the risk of sanctions by supervisors for failure to comply effectively with AML/CFT requirements. International banks are setting the bar high for AML/CFT compliance to establish correspondent banking relationships.

In light of these challenges, this course aims at providing participants with operational knowledge for identifying and assessing ML and TF risks, acquiring information on the latest ML and TF trends, and understanding the best practices in creating strategies and setting up effective risk-based compliance systems that is compliant with both FATF Recommendations and other international best practices.

Who Should Attend

Principals especially those working in the Financial Industry including both the public sector (financial regulators and supervisors) and private sector (such as Banking, Insurance, and Securities) are encouraged and shall benefit by attending this course.

A list of POTENTIAL ATTENDEES, but not exhaustive, is laid out below as follow:

• Financial Transaction Regulators / Supervisors
• Financial Intelligence Managers/Analysts
  
• Policy Makers
  
• Financial Institution Directors
  
• Financial Institution (Senior) Vice Presidents
  
• AML/CFT Policy Analyst
  
• AML/CFT Compliance Analyst
  
• Compliance Manager
  
• Compliance Auditors
  
• Relationship Managers
  
• Risk Managers
  
• Private Equity Professionals
• Financial Lawyers

Key Learning Objectives

• LEARN the latest trends of ML and TF
  
• ACQUIRE practical yet effective strategies for identifying and assessing ML and TF risks
  
• UNDERSTAND ML and TF risks
  
• MITIGATE money laundering and terrorist financing risks based on risk-based approach (RBA)
• ENSURE that the AML/CFT regime is adequate to address such risks
• STRENGTHEN compliance oversight on AML/ CFT policies and coordination

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