Programme in preparation

AML - CTF - Foundation Level

In cooperation with the House of Training Quality Circle "Rules and Regulations"

Objective

  • To learn:
    • Overview of European standards and of Luxembourg AML/CTF laws and regulations
    • Stages and methods of money laundering
  • To develop knowledge / create awareness of:
    • Money laundering techniques
    • Internal organisation to reduce the risk of laundering and terrorist financing
    • Key roles and responsibilities of all actors involved
  • To understand the concepts of simplified, normal and enhanced due diligence
  • To get acquainted with AML best practices in Luxembourg (procedures and supporting tools).

Target group

Commercial bankers and financial institutions employees :

  • Junior AML and Compliance Officers of banks and financial institutions
  • Relationship Managers in contact with the customers, risk managers and internal auditors interested in learning more about AML

Central bankers and supervision authorities employees :

  • Junior Officers dealing with these matters at supervisory level

Location & duration

In HoT-ATTF partner countries: 3 to 4 seminar days (depending if sequential translation or not)

Detailed programme Explode

Definition of Money Laundering & Terrorism Financing

  • ML steps
  • TF funding

The fight against ML & TF at international level

  • FATF
  • Other international bodies
  • EU directives

The role of the financial institutions in the fight against ML & TF

The professional obligations of the financial institutions:

The obligation to customer due diligence measures

  • Identification of customer
  • Identification of beneficial owner
  • Identification of the relationship
  • Monitoring of the transaction
  • Enhanced & simplified due diligence
  • Reliance on third parties

The obligation to cooperate with the authorities

  • Cooperation on demand
  • Cooperation on own initiative
  • Transmission of information
  • Prohibition against informing the customer
  • Prohibition against carrying out a suspect transaction

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