International sanctions, payments screening and transactions monitoring

AML regulators are more and more focused on controls’ effectiveness and having fine-tuned transactions monitoring. In addition, a payment filtering tool is essential in avoiding any money laundering or sanctions breach.

As a result, the AML/CTF programmes of financial institutions are imperative to be up to date with local and international regulations in constant evolution. Therefore, parties involved shall continuously update their international sanctions procedures and payment screening systems, likewise their transactions monitoring scenarios.

As part of this course, PwC's Academy addresses in a comprehensive and practical way the questions you and your team are confronted, with in the light of your professional duties as well as the evolution of AML and counter-terrorism financing.

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

• understand the differences between international sanctions, payments screening and transaction monitoring
• define the needs of control for payments
• target the risk indicators for different financial crime typologies
• explain regulatory and reporting expectations

This module covers the following:

• What is the role of AML transaction monitoring in financial crime prevention?
• How are effective international sanctions controls are implemented?
• What are the main principles of transaction monitoring and payments screening alerts investigation?
• What are the main obligations in regard to AML transaction monitoring and international sanctions reporting?

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 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 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.