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's 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, 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 programmes that regularly involve international subject matter experts (e.g. transparency international, UN Security Council, FATF, SCPC, FSA, CSSF etc.).

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