AML/CFT news

Blended learning

Who is the training for?

Industry Professionals: Insurer personnel, experts, insurance advisors, brokers, sub-brokers or wealth engineers, wealth planners, private bankers whose clientele is interested in insurance.

Level reached

Intermediate

Duration

2,00 hours(s)

2h00 + questions

Language(s) of service

EN

Goals

This course aims to provide a comprehensive overview of the legal framework and requirements for combating money laundering in Luxembourg, as well as recent developments in this area.

Contents

The training covers the prevention of money laundering as defined by the FATF recommendations and European directives, national laws and regulations, as well as the practical implications for insurance professionals.

Topics such as risk self-assessment, customer due diligence obligations and cooperation with the authorities are covered in detail, with illustrations and concrete examples.

Points covered

  • Brief history and development of preventive anti-money laundering legislation in Luxembourg.
  • Relevant Luxembourg national laws and regulations.
  • New legislative and regulatory developments.
  • Implications for insurance professionals.
  • Professional obligations to prevent money laundering: BC-FT (Money Laundering and Terrorist Financing) risk assessment, customer due diligence obligations, cooperation with the FIU and the supervisory authority, geographical risk categorisation, supranational references and assessments, focus on the identification and verification of beneficial owners.
  • Restrictive measures and international financial sanctions: what are the obligations of economic operators in the insurance sector?
  • The future of supervision.
  • Penalties for non-compliance with preventive legislation and whistleblowing procedures.

Teaching methods

Interactive presentations:

  • Use of visual presentations to explain key concepts.
  • Integration of interactive elements such as Q&A sessions and discussions to maintain participant engagement.

Evaluation

Quiz

Certificate, diploma

Certificate provided at the end of the session

Mode of organisation

An email is sent the day before the training with the details of the video conference.

Additional information

Best Practices:
  • Arrive 5 to 10 minutes before the training session.
  • Before the session: perform an audio test (video conferences often lose 10 to 15 minutes due to connection issues).
  • Be punctual for the start of the training.

Some recommendations:

  • Use headphones.
  • Be in a quiet environment.
  • Ensure a good internet connection.
  • Silence your mobile phone during the session.
  • Avoid multitasking.
  • Set up in a secluded and practical location for your cables and note-taking.
  • Isolate yourself from any distractions and noise (TV, kitchen, etc.) for the duration of your training.
  • Settle into your dedicated space, such as a desk, and make sure to lock the door while you work - to prevent unexpected interruptions from children.

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