2017 - Foundation Course - Three Days

"It's a foundation course because it's building the foundations of your career - not because it's basic."

Bookings close 23 May 2017

This course assumes a prior working knowledge of UK Law and Regulation. Reference will also be made to international bodies and some non-UK law

Overview

When we talk of a foundation course, we are not talking about basic stuff. We make it relevant, up to date (you might be surprised how many training providers are still referring to the "FATF 40 Recommendations plus 9 Special Recommendations," almost two years after the re-write brought the number to the original 40?)

We mention "placement, layering and integration" only to warn off the use of the terms and provide sensible, meaningful alternatives.

Our highly interactive events enhance comprehension and thereby facilitate increased performance and accuracy by delegates.

By the end of the MLRO's Foundation Course, your new people in compliance and risk management will have an unrivalled level of understanding of the issues that face them, their employers and the countries they work in.

We call it a foundation course because it provides the foundations for a career, not because it's basic.

Your staff will know what to question - and more importantly how to question it, and they will know the differences between suspicion, knowledge and belief.

In short, they will be provided with the tools that they need to be valuable members of the risk team, with the aim of protecting your company.

Objectives

New money laundering reporting officers / money laundering risk officers are presented with a bewildering array of law, regulation, subjects and concepts.

It is both challenging and confusing.

This course clears away the confusion and presents, with clear explanations and case studies, all the information and tools that the new MLRO needs to be able to properly perform his functions and to be a valuable and effective part of the team from the outset.

The course is specifically intended for those starting out and those within the two to three years of their engagement.

Who should attend?

All those new, or nearly new, to an MLRO role in

Banking - retail including lending
Banking - corporate including lending and asset financing
Insurance - general, health, life and investments
Securities
Dealing in monetary instruments
Money transfer
Dealing in precious metals, etc.
Property
The offshore sector including trusts, company formation and management
Counter-trade, trade finance, factoring and forfaiting
Providers of safety deposit boxes, mail and virtual office services, etc.
Providers of tax-free zone services

Programme Day One

What is money laundering?

What is funding future crime - including terrorism?

Where does money laundering fit in with other financial crime?

Identifying and managing money laundering / funding future crime risks in the following sectors

Banking - retail including lending
Banking - corporate including lending and asset financing
Insurance - general, health, life and investments
Securities
Dealing in monetary instruments
Money transfer
Dealing in precious metals, etc.
Property
The offshore sector including trusts, company formation and management
Counter-trade, trade finance, factoring and forfaiting
Providers of safety deposit boxes, mail and virtual office services, etc.

Dealing with non-banks and other businesses

Money laundering processes and schemes - case studies

The role of the Financial Action Task Force, the FATF Style Regional Bodies and the 40 Recommendations

EU Directives including extra territorial effect

General principles of AML/CFT law and regulation
including application, reporting, freezing and confiscation, powers of seizure and investigation
(note: this course is principles based - not country specific)

The USA PATRIOT Act's extra-territorial effect and impact with case studies

What, exactly, is a "risk-based approach?"

Programme Day Two

External risks

- Profiling

- Due Diligence / KYC

- Know your counter-party

Internal risks

- Know your employee

- Know your own business

- Managing information within the organisation

- Getting the bosses' buy-in

Sanctions

Who creates sanctions?
Why?
What / who are likely targets?
Examples of sanctions: it's not what you expect
What does it have to do with money laundering / financing of future crime including terrorism?
Extra jurisdictional effects of sanctions
Sanctions enforcement

Corruption, bribery and plunder

Who is corrupt?
Who is implicated?
What are the differences between corruption, bribery, plunder?
Commission and entertainment: identifying borders
Extra-jurisdictional effect of corruption and bribery laws
Relationship with money laundering

Tax

What is the difference between tax evasion and tax avoidance - and why do government spokesmen keep getting them muddled?
International treaties, agreements and international enforcement
Extra jurisdictional effect of tax laws

Politically Exposed Persons

What / who is a PEP?
Where are the boundaries for classifying persons as PEPs?
Foreign or domestic - does it matter?

Customer identification, verification, authentication
New v existing customers
What to do and when to do it
Proving - and disproving - identity
Customer profiles - initial and developing
Cross-border identification
Third party accounts (trusts, nominee, etc.)
Identifying and identifying through corporate structures

MLD IV: standing in the UK after Brexit
Incremental change or revolution?

Day Three - Workshop

Practical exercises in group work and individually, case study led.

Examination

You will be presented with an examination to be completed in the final hour of the third day. That examination will be marked and you will be provided, after the event, with a certificate of attainment showing your results and your paper will be returned to you.

Cities and Dates: 

Bookings closed

This course may be presented in-house worldwide

This course may be organised by regulators and professional bodies worldwide

For more information on booking in-house or industry run-seminars, please complete the contact us form.

Price per person: 

750.00 plus UK VAT where applicable

Seminar Language: 
English
Seminar Schedule: 

Registration 08:00
Seminar Start: 08:30
Lunch: 12:00 - 12:45
Seminar End: 16:00

Daily

Max number of delegates: 
30
Presenter: 

Nigel Morris-Cotterill

Head, The Anti Money Laundering Network

Following a career in litigation and business advisory law in London, Nigel Morris-Cotterill left full time practice in 1994 to focus on money laundering compliance and risk management.

He has advised many financial institutions and worked with government departments.

His companies include consultancy, training (face to face and the class-leading Quick To Learn More e-learning service), World Money Laundering Report and other publications plus, of course, The Financial Crime Forum.

Morris-Cotterill wrote "How not to be a money launderer" (1996, 1998, available as reprint in paperback and ebook) and Sun Tzu and the Art of Litigation (2013 - paperback and e-book). He is a contributing editor for Complinet / Thomson Reuters Accelus with a brief to write pieces intended to provoke and lead thoughts across the industry across the world. He is also the author of "Understanding suspicion in money laundering and terrorist financing," "Ten real life exploits Da'esh/ISIS use to hack the world" and "Cleaning up the 'Net." Away from the financial world, he is the author of "Ten Things You Need to Know About Dealing with Death."

http://countermoneylaundering.com/PUBLIC/content/author

Book Now: 

Bookings closed.

This course may be booked for in-house presentation by companies, professional bodies and government departments and agencies.