Anti Money Laundering (AML) for Funds - Implementation

Take part in our "Anti Money Laundering (AML) for Funds - Implementation" training to master AML and CFT regulations. Understand the due diligence process for direct investors, correspondents and third party introductions. Explore the responsibilities of actors, the risk-based approach (RBA) and applicable guidelines. Practical examples will enrich your understanding. Get ready to effectively protect the fund industry against money laundering and terrorist financing.

After completing this course, participants will be able to understand:

• The regulatory framework AML and CFT
• responsibilities
• The risk-based approach
• The due diligence process on direct investors, correspondents, third party introducers, etc.

• Regulatory Framework
  • General overview of the AML/CTF legislation in place, i.e laws versus grand ducal regulation versus CSSF circulars and regulations
  • Other standards to take into consideration: FATF, Wolfsberg
  • The upcoming 4th AML directive in a nutshell
  • The 2006 ALFI guidelines versus the 2013 ones
• Anti Money Laundering and Combating Terrorist Financing Responsibilities
  • Role, responsibilities and obligations of each actor, (i.e. the management company, the transfer agent, the global distributor and the distributors, the custodian bank)
  • What are the links and interactions between the different actors, who relies upon whom, key questions to ask?
  • Practical examples
• The Risk Based Approach (RBA)
  • Definition of the RBA principles, reference to FATF and Wolfsberg guidance
  • Key criteria for an efficient RBA
  • What are the benefits?
• The Due Diligence Process
  • Definition and application
  • A process applicable to the different actors
  • Different types of due diligence linked to different type of risks
  • Risk assessment and ongoing monitoring
• Direct Investor Due diligence
  • Definition and application
  • Practical examples
• Correspondent Relationship Due Diligence
  • Definition and application
  • Practical examples
• Third Party Introducers and Outsourcing
• Questions and answers

At the end of the training, the participants can download a certificate of attendance from their client account of House of Training.