International sanctions and screening

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's 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, 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.