Fight Against Money Laundering and Terrorism Financing (including latest regulatory updates)

Why can we help you?

Not a day goes by when financial and non-financial media do not make reference to the intention of politicians, economists and law makers to strengthen the current measures against money laundering and terrorist financing. More and more sanctions are imposed for non respect of anti-money laundering and terrorism financing duties by Financial Supervisory Authorities and by Judges.

An efficient participation in the fight against money laundering and terrorism financing implies a good knowledge of the existing laws and regulations but also of the permanent professional duties. Faced with increasing regulatory duties, the Management and the employees are often overwhelmed and cannot meet their duties if they have not been clearly defined.

As part of this course, PwC's Academy offers to highlight your requirements regarding this topic and to address in a comprehensive and practical way the questions you and your team are confronted with in the light of your mandatory professional duties and the "progressive" evolution of anti-money laundering regulations.

Thanks to our strong expertise in the Financial Sector and our professional experience, we can help you to improve your anti money laundering knowledge according to the best practices.

What kind of training?

• Theoretical part
• Development of essential definitions
• Overview of the recent regulatory environment at Luxembourg, at European and international levels
• Scope of primary offences
• Practical part
• Presentation of professional obligations and illustration with practical examples
• Customer due diligence (identification and verification of the identity, name checking, origin of funds,... for individuals and legal persons)
• Criteria related to the "risk based approach" (nationality, country of residence, professional activity, PEP, …)
• Transaction monitoring (incoming, outgoing, name and country screening, amount, frequency, IT tools,…)
• How to cooperate with the FIU (who, when, what, "no tipping off" principle)
• Adequate internal organization (framework, IT tools, record keeping) and controls (hierarchical, internal audit, Compliance function,...)

This training is interactive and full of useful practical points, multiple-choice questionnaires and case studies.

How can we help you?

• Our training is focused on:
• Answering legal requirements
• Taking into account the latest legal and regulatory international, European and Luxembourg changes and the latest CSSF and FIU circulars, regulation and annual reports
• Giving concrete examples extracted from the press and from the professional experience of speakers
• A pragmatic approach to elaborate duties depending on your activities and your size
• Participants will be able to:
• Identify the impacts of the new regulatory requirements on their organization
• Set up and apply a risk based approach
• Extend the procedures applicable to a Luxembourg entity be applied to an international group
• Explain the relevant regulations to the others employees and the possible consequences of negligence or breach
• Draw up an internal AML framework in line with the requirements
• Draw up the internal AML assessment.