AML/CFT Luxembourg

Duration

2,00 hours(s)

120 minutes + 10 minutes of questions

Language(s) of service

Next session

Who is organizing this training?

Fondation créée en 2015 par la Chambre de Commerce et l’Association des Banques et Banquiers Luxembourg (ABBL), la House of Training est un organisme agréé de formation professionnelle continue qui s'engage à contribuer activement à la compétitivité et à l'attractivité du Luxembourg en développant les compétences de ceux qui font vivre son économie.

Goals

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

Suitable for allusers
Available in English and French

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.

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

Evaluation

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.