International sanctions and screening

• Members of the board and the executive board of banks, PFS, insurance/ reinsurance/captive companies or management companies of a Luxembourg UCI
• Internal auditors, compliance officers or risk managers
• Distributors or transfer agents of a Luxembourg UCI
• Domiciliary agents
• Persons in charge, or front office team members of a PFS
• Professionals of the (re)insurance sector
• New joiners of financial and non-financial institutions
• Person interested in developing specific knowledge

Counter-terrorism and the fight against rogue states financing are becoming a top priority for governments, which are combating them across the globe through international sanctions. The methods of their applications vary according to their needs and goals and updates may be daily, making it more and more difficult to stay up-to-date.

As a result, the AML/CTF programmes of financial institutions are imperative to achieving and sustaining governmental strategies in their implementation of international sanctions. Besides this, the local and international regulation is in constant evolution and increasingly demanding. Therefore parties involved shall continuously keep updated their international sanctions procedures and payment screening systems.

As part of this course, PwC Academy offers to highlight your company's requirements regarding this topic and to address in a comprehensive and practical way the questions participants are confronted with in the light of their professional duties and the progressive evolution of AML and counter-terrorism financing.

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

• identify an impact of international sanctions in their organisation
• define the needs of control for payments
• target the gaps in their organisation
• extend the approach with an in-depth look to Luxembourg
• explain the relevant methods in preventing breach in international sanctions regime

This module covers the following:

• What are international sanctions and what is terrorism financing?
• Definition and understanding of the different sanctions regimes.
• How are effective international sanctions controls implemented?
• What are the main obligations in regards to international sanctions and counter-terrorism financing?

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

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.