Date(s) - 06/10/2021 - 07/10/2021
8:00 am - 12:00 pm
About this course:
The purpose of the seminar is to get the participants to learn/improve/refresh their knowledge of the latest Money laundering schemes as well as the latest AML regulations and best practices get ready to provide assurance services to their companies on this specialized area.
- Day 1: 08:00 – 12:00
- Day 2: 08:00 – 12:00
Who Should Attend?
The seminar is addressed to:
- Internal Auditors
- Compliance and AML officers and
- To whoever is interested to improve their existing knowledge in the AML processes.
Enrichment of knowledge: The scope for the seminar is to assist the participants to be able to understand and adjust accordingly their auditing methodologies in order to be able to audit their respective AML procedures in their own companies having first understood the numerous money laundering schemes that exist out in the real world thus safeguarding the company from these risks.
Updating of skills: During the two-day seminar, full explanations with simple and practical workshops (round table discussions and scenarios to be analysed and presented in class by the delegates) will be created. These will allow the participants to be in a position to use the theory to engage into a discussion / solve the case scenarios on the relevant topic of the discussion.
- Gain the skills necessary to review and improve the AML structure
- Develop techniques to effectively assess your organizations AML risk management activities and
The following sections will be fully discussed and explained during the process of the seminar:
- Introduction and Scope of the seminar
- Money Laundering Methods & Processes
- Methods Used to Launder Money Through Front Businesses
- Favourite Businesses for Hiding or Laundering Money
- Emerging Payment Methods and Schemes
- Calling in a Specialist
- Internal Controls, Policies and Procedures
- Red flags of money laundering
- Enforcement and prevention strategies
- Terrorist financing
- Record keeping
- Training and awareness
- New deposit accounts
- New loan accounts
- Special problems for insurance companies
- The financial action task force
- The FATF recommendations
- Legal systems
- Deterring money laundering and terrorist financing
- Reporting suspicious transactions
- Regulation and supervision
- Countries with substantial money laundering issues
- The United Nations
- International monetary fund/world bank
- The European Union
With the conclusion for the seminar the delegates will be able to have a better understanding of what is expected of them in preparing for their first or next audit assignment that of the AML.