Fight against money laundering and terrorism financing (including latest regulatory updates)

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 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 their duties if they have not been clearly defined.

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

Thanks to our strong expertise in the financial sector and our professional experience, we can help you to improve your AML knowledge according to the best practices.

Our training is focused on:

• Answering legal requirements;
• Taking into account the latest legal and regulatory international, European and Luxembourg changes and the latest CSSF and FIU circulars, regulation and annual reports;
• Giving concrete examples extracted from the press and from the professional experience of speakers;
• A pragmatic approach to elaborate duties depending on your activities and your size.

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

• identify the impacts of the new regulatory requirements on their organisation;
• set up and apply a risk based approach;
• extend the procedures applicable to a Luxembourg entity be applied to an international group;
• explain the relevant regulations to the others employees and the possible consequences of negligence or breach;
• draw up an internal AML framework in line with the requirements;
• draw up the internal AML assessment.

Theoretical part

• Development of essential definitions
• Overview of the recent regulatory environment at Luxembourg, at European and international levels
• Scope of primary offences

Practical part

• Presentation of professional obligations and illustration with practical examples
• Customer due diligence (identification and verification of the identity, name checking, origin of funds,... for individuals and legal persons)
• Criteria related to the “risk based approach” (nationality, country of residence, professional activity, PEP, …)
• Transaction monitoring (incoming, outgoing, name and country screening, amount, frequency, IT tools,…)
• How to cooperate with the FIU (who, when, what, “no tipping off” principle)
• Adequate internal organisation (framework, IT tools, record keeping) and controls (hierarchical, internal audit, compliance function,...)

This training is interactive and full of useful practical points, multiple-choice questionnaires and case studies.

An attendance certificate will be sent to participants

This training is coordinated by Roxane Haas 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.

Roxane Haas is a “réviseur d’entreprise agréé” and accountant in Luxembourg. Roxane is an audit partner at PwC Luxembourg. She has over 14 years of professional experience at PwC and in particular in the context of audits of banks, PSF and investment funds. She is also in charge of the Task Force AML PwC Luxembourg and is active in local working groups (Luxembourg Association of Compliance Officers, Institute of Company Auditors and Institute of Chartered Accountants). Her skills have brought her to supervise many AML/KYC missions for major banking players of Luxembourg.
Over the past 10 years, Roxane has conducted numerous AML trainings for both national and international as well as for professional organisations.?

Michael Weis is a Partner in the Forensic services. Through his previous positions and projects, Michael 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.