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Anti-money Laundering Essentials

14 hour(s)

Objectives

To know the new regulations and all concerned laws and circulars.
To identify all the risk areas by a risk based approach.
To avoid any responsibility for the bank.

Content

History of Compliance
  • Origins of Compliance, organisation of a good governance, different levels of controls.
  • International recommendations, judicial and national authorities.
Understanding of Compliance
  • Definition of the money Laundering and definition of the terrorism financing.
  • Description of the three steps of the money Laundering…
  • Entities concerned by the money Laundering and the terrorism financing.
  • Operations considered as infraction to the Penal Code.
Master the legal frame of the fight against money Laundering
  • Recommendations of the FATF.
  • The 4° directive anti-money Laundering.
  • Luxembourg legal framework.
  • Penalties: responsibilities if failures in controls put in place by the organisation, statement of suspicion and civil and penal responsibilities.
  • Development of the best practice: analyses FATF and COE – Moneyval.
Detailed analysis of the Luxembourg's FIU
  • CRF (Cellule de Renseignement Financier) and AED (Administration des Enregistrements et Domaines).
  • Last statistics.
  • Recommendations of the CRF.

Exercise: analysis of a model of a statement of suspicion.

Build and perpetuate a plan of fight against money Laundering
  • Elaborate a manual of procedures and a Compliance plan.
  • Relations with the other control departments: relations with the internal and the external auditor, improvement of the cooperation between the different levels of control, in house controls by the CSSF, contacts and reports with the CRF.
  • Elaboration of a training plan.
  • Tools and techniques of investigation: AML tool, scheduled controls (KPI, KRI…), analysis of the CSSF circulars (anti-money Laundering), permanent analysis of the PEP’s, of the concerned countries placed by the FATF in grey and dark lists, schedule of reportings for the
  • Management and for the regulators.

Exercise: build a risk based approach: countries risks/Clients risks (KYC)/Products risks.

Target group

Who is the course aimed at?

Compliance Officers and junior lawyers. Persons in charge of the anti-money Laundering activities. Every person in charge of the procedures concerning the anti-money Laundering activities.

Assessment

Certficate, diploma

Attestation de participation

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Responsibility for the content of this training description lies solely with its author, the training provider ABILWAYS Luxembourg by EFE Luxembourg.

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