AML/CTF: key regulatory updates and industry trends incl. EU AML action plan, AML6D

In May 2020, the European Commission (EC) published its new AML/CFT action plan seeking to create common standards, application, and 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 have a 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 discuss industry trends around asset screening, risk appetite statements and alike.

An attendance certificate will be sent to participants.

This training is coordinated by Cécile Moser and Michael Weis, Partners at PwC Luxembourg

Cécile, AML Services Partner, is specialised in the financial sector of Luxembourg, with a particular focus on AML and CTF regulations and internal control environments.

She manages and performs regulatory mandated AML and CTF reviews, identifies AML and CTF control issues or deficiencies for private banks, custodians, transfer agents, investment funds and management companies.

Cécile also provides advice on AML and CTF methodology and helps to develop AML/CTF procedures in line with local laws and regulations.

Through his previous positions and projects, Michael, Financial Crime Leader and Partner in the forensic services, gained extensive knowledge in the investment management and banking industries.

As a key member of the internal controls practice of PwC, Michael specialises in the review of internal controls in the context of SAS 70 reviews and controls reports. He is the manager of various high-profile client assignments on internal controls reports and on Anti-Money-Laundering (AML) in the investment management industry.

Within PwC, Michael takes a key role in the AML taskforce and on internal controls work for the prevention of financial crime. He is coordinating the PwC’s Academy's “Fight against financial crime” leading training programme that regularly involves international subject matter experts (e.g. transparency international, UN Security Council, FATF, SCPC, FSA, CSSF etc.).

Through his professional qualifications he specialised in compliance related topics such as internal controls frameworks, fraud prevention/investigation and AML.