AML/CTF: key regulatory updates and industry trends incl. EU AML action plan, AMLD6

In May 2020, the European Commission (EC) published its new AML/CFT action plan seeking to create common standards, common application, and common supervision of EU rules in a more standardised manner. The AML action plan refers to the enforcement of existing rules, a single rulebook for EU Member States, a new EU AML authority, coordination and support mechanism for FIUs, law enforcement and information sharing and a role for the EU at a global level. It's detailed requirements have been published in July 2021. In addition there are related updates to regulations and industry trends that have occured recently and are expected to to happen in the coming months.

Objectives

By the end of this training, you will be get an comprehensive overview on recent regulatory updates and trends based on the European Directives as well as the EU action plan on AML and its potential implications.

This training covers the new regulatory updates like EU AML6D, EU Action Plan AML, AMLA, latest AML/CTF circulars, CSSF regulations and legal updates.

We will also be discussing industry trends around asset screening, risk appetite statements and alike.

An attendance certificate will be sent to participants.

Michael Weis is the leader of Forensic Services and AML/Anti-Financial Crime.

Michael is leading a large variety of financial crime projects, including AML investigations, remediation and prevention projects in various industries, incl. asset management and banking.

Michael has a strong experience of incident management and crisis situation in the context of high-profile AML investigations. As part of his work Michael has already worked several times as on behalf of the financial regulator CSSF in the context of the “Panama Papers” or similar special reviews for financial institutions. Michael is also involved in anti-sanction reviews with regards to OFAC or EU sanctions and regularly involved in forensic investigations.

As part of his project experience, Michael has extensively worked for EU owned financial institutions (bank and investment fund) in Luxembourg.

Michael is recognised as a subject matter expert on AML and forensic matters as key member of the local industry working groups on fraud at the Institut Luxembourgeois des Administrateurs (ILA) for directors and a founding Director of the Luxembourg Chapter of the Association of Certified Fraud Examiners (ACFE).

As a regular speaker at the International Symposium on Economic Crime, Cambridge, UK, Michael has regular contact and good connections to leading international law enforcement practitioners and regulators. He is regularly featured as speaker at conferences and facilitating workshops in the context of financial crime and forensic services.