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AML/CFT Luxembourg

Banques

Description

Description

This e-learning course covers anti-money laundering and combating terrorist financing within the Luxembourg laws, regulations and circulars. This course is

  • Suitable for all users
  • Available in English and French 
Objectives
 

There are 3 core objectives of this interactive E-learning course:


        • You gain a basic understanding as to what money laundering and terrorist financing are. We also look at the impact that these activities have on society as a whole.

        • You gain an appreciation of the stakeholders, laws and regulations concerning anti-money laundering and combating terrorist financing in the EU and Luxembourg.

        • We look at the potential impact that non-compliance with the laws could have on you or your organisation.
          • Programme

           Module 1 - Money Laundering

          • Definition

          • Predicate Offences

          • Placement, Layering and Integration

          • Scale of Money Laundering

          • Social Impact of Money Laundering

          Module 2 – Combating Terrorist Financing

          • Definition

          • Terror Attacks and Costs

          • Vulnerable Organisations

          • Comparison with Money Laundering

          Module 3 – Proliferation Financing

          • Definition

          • UN Resolution

          • Global Security

          • Red Flags

          Module 4 – Anti-Money Laundering

          • Definition

          • Global Stakeholders

          • FATF

          • FATF 40 Recommendations

          • Mutual Evaluation

          • FSRBs

          • FIU Definition & Functions

          • AML Summary

          Module 5 – AML / CTF Basics

          • Board Responsibility

          • Compliance Responsibility

          • Policies and Procedures

          • Risk Based Approach

          • Risk Levels

          • Identification and Verification

          • Beneficial Owners

          • Relationship Factors

          • Source of Funds

          • Source of Wealth

          • PEPS and Definition

          • Screening Process and Challenges

          • High Risk Jurisdictions

          • Document Retention

          • Suspicion

          • Tipping Off

          • Reporting

          • Red Flags

          Module 6 – Sanctions

          • Client Screening

          • Sanctions Definition

          • Freezing Regime

          • Screening Lists

          • Screening Challenges

          • Economic Sanctions

          Module 7 – AML Consequences

          • Global Penalties

          • Causes for Penalties

          • 5 Case Studies 2021

          • Reputational Damage

          • Impact on Employees

          Module 8 – AML / CTF in the EU

          • European Stakeholders

          • EU Directives

          • 4th Directive

          • Consequences of the 4th Directive

          • Enlarged Scope

          • Risk Assessment

          • Beneficial Owners

          • EU Guidelines

          • 5th Directive

          • 6th Directive

          Module 9 – AML / CTF in Luxembourg

          • Mutual Evaluation 2010

          • Mutual Evaluation 2022

          • 2022 Assessment Criteria

          • National Risk Assessment

          • Local Stakeholders

          • Local Laws

          • Whistleblowing Law

          • Luxembourg Predicate Offences

          • Register of Beneficial Owners

          • Luxembourg Sanctions and Penalties

          • CSSF inspections

          • CSSF Fines and Penalties

          • FIU Luxembourg

          Module 10 – Tax Crimes

          • FATF and Tax Crimes

          • Tax Crimes as Predicate Offences

          • Tax Offences

          • Sanctions and Penalties

          • 21 Common Indicators

          Duration

          120 minutes + 10 minutes of questions. 

          Conditions

          Course Material

          No course materials are available for this course.

          Knowledge Check

          There is a 10 question knowledge check at the end of the e-learning course with a standard pass mark of 80% and unlimited attempts. The 10 questions are drawn randomly from a larger bank of questions. Each attempt will draw a different mix of questions.