ΠΕΡΙΓΡΑΦΗ

This course provides a comprehensive understanding of Know Your Customer (KYC) and Customer Due Diligence (CDD)procedures tailored to complex business structures. It covers essential topics such as identifying and verifying complex ownership structures, conducting Enhanced Due Diligence (EDD) for high-risk clients, and filing Suspicious Activity Reports (SARs). Participants will also gain insights into the application of risk-based approaches to Anti-Money Laundering (AML) compliance and an in-depth understanding of national and international AML/Counter-Terrorist Financing (CTF) legislation. Through real-world case studies and interactive discussions, participants will develop the practical skills needed to enhance their organization’s financial crime prevention efforts.

Why Register for This Course?

• Gain an advanced understanding of KYC and CDD procedures, especially for complex structures and high-risk clients.
• Learn how to identify and mitigate financial crime risks using real-world scenarios and case studies.
• Stay ahead of national and international AML/CTF regulations, avoiding hefty penalties and reputational damage.
• Develop the ability to conduct Enhanced Due Diligence (EDD) and Simplified Due Diligence (SDD) for various client risk profiles.
• Build expertise in filing SARs and maintaining compliance with reporting requirements, including working with regulatory bodies like MOKAS in Cyprus.
• Enhance your credentials and position yourself as a trusted professional in the fields of compliance, risk management, and AML/CTF.

This programme may be approved for up to 10CPD Points. Eligibility criteria and CPD Points are verified directly by your association, regulator or other bodies which you hold membership.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

What This Course Aims to Do

• Equip participants with the knowledge and skills required to implement effective KYC and CDD procedures for both natural persons and complex structures.
• Enhance participants’ ability to identify, assess, and mitigate financial crime risks through a risk-based approach.
• Provide an understanding of statutory requirements for AML/CTF compliance and the responsibilities of Compliance Officers in maintaining organizational     integrity.
• Demonstrate how to identify and report suspicious activities effectively using SARs, ensuring adherence to AML/CTF regulations.
• Develop expertise in managing and verifying the ownership and control structures of complex entities, such as trusts and multinational organizations.
• Foster a comprehensive understanding of the global and local regulatory frameworks governing AML/CTF compliance, including penalties for non-compliance.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

The course is aimed at:

• Lawyers
• Compliance Officers
• Auditors
• Accountants
• Company Service Providers
• Any professionals involved in AML/CTF processes.

It offers the knowledge and tools needed to navigate complex financial crime prevention scenarios effectively.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Course Content

Module 1: KYC and CDD Fundamentals for Complex Structures

• Definition and importance of KYC and CDD.
• Application of KYC and CDD for natural persons and private companies.
• Simplified and Enhanced Due Diligence: When and how to apply them.
• Source of Wealth and Source of Funds: Documentation and verification.
• Identifying and managing complex ownership structures (e.g., trusts, funds, multi-jurisdictional entities).

Module 2: Reporting Suspicious Activities and MOKAS

• Introduction to MOKAS and its role in AML/CTF reporting.
• Identifying suspicious activities and red flags.
• Filing SARs and STRs: Templates, documentation, and practical examples.
• Avoiding tipping off and understanding legal protections for reporters.
• Penalties for non-compliance and case studies of suspicious activity reporting.

Module 3: Customer Due Diligence (CDD) for Different Entities

• Statutory requirements for CDD under AML/CTF regulations.
• Identification and verification processes for natural persons, legal entities, and partnerships.
• Verification of trusts and other legal arrangements, including beneficial ownership.
• Steps for onboarding, ongoing monitoring, and event-driven reviews.

Module 4: Risk-Based Approach to Client Due Diligence and Monitoring

• Assessing and documenting client risk profiles based on geographic, sectoral, and transactional factors.
• Applying EDD for high-risk clients and SDD for low-risk clients.
• Conducting ongoing monitoring, including transaction reviews and periodic updates.
• Implementing a risk-based approach to streamline compliance procedures.

Module 5: Money Laundering, Terrorist Financing, and Regulatory Framework

• Understanding Money Laundering (ML) and Terrorist Financing (TF): Concepts, differences, and stages.
• Overview of AML/CTF regulatory frameworks at the national and international levels.
• Identifying AML/CTF offences and applying risk-based strategies to mitigate organizational risks.
• Case studies of AML/CTF violations and best practices for compliance.