Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) for board of directors

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 (AML) and terrorism financing. More and more sanctions are imposed for the non-respect of AML 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 said duties if they have not been clearly defined.

As part of this course, PwC Academy offers to highlight your company's requirements regarding this topic and to address in a comprehensive way the questions members of the board and executive committee are confronted with in the light of mandatory professional duties and the "progressive" evolution of AML regulations.

By the end of this training, participants will be able to:

• understand the legal and regulatory requirements in the area of AML/CFT;
• grasp the latest international, European, and Luxembourg legal and regulatory changes, including the latest CSSF and FIU circulars, regulations, and annual reports;
• comprehend their responsibilities as expected by Luxembourg AML/CFT regulations.

The course will use a pragmatic approach to elaborate duties based on your organisation's activities and size.

• AML/CTF in its context - FATF, EU Luxembourg
• Counter proliferation financing
• Luxembourg’s regulatory AML/CTF response – an update
• AML/CTF governance
  • Role of BoD, RR and RC
  • Role of IFM
  • Role of an investment fund
  • AML/CTF - key concepts and ground rules
• AML and tax
• AML/CTF hot topics
  • Risk appetite, risk assessment and risk based approach
  • AML on assets
  • AML/CTF distribution oversight
• Transaction monitoring
• Cooperation with authorities

An attendance certificate will be sent to participants

This training is coordinated by Cécile Moser and Michael Weis, Partners at PwC Luxembourg, and will be given by directors and managers who benefit from a strong professional experience in this area.

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.

Michael leads PwC’s Forensic Services practice and AML taskforce, overseeing investigations, remediation projects, and high-profile AML audits for banks and investment funds. He is the key contact for AML distribution due diligence in asset management and works closely with PwC’s global forensic network on international projects. As certified fraud examiner, Michael is recognized as an AML and forensic expert and actively contributes to industry working groups on fraud at the Institute of Internal Auditors (IIA) and the Institut Luxembourgeois des Administrateurs (ILA). He regularly conducts workshops and training on AML and fraud in Luxembourg and abroad.