Anti-money Laundering Essentials
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.
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.
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.
Attestation de participation