ΠΕΡΙΓΡΑΦΗ

Anti-Money Laundering (AML) and Economic Sanctions are more complex than ever, and constant changes present unique and difficult challenges for Regulated Entities. A significant number of high-profile enforcement cases have shown that AML and Economic Sanctions compliance has been and will continue to be a top priority for Regulatory Authorities and Law Enforcement Agencies in Cyprus, the European Union and Globally. Regulated Entities now face the very real possibility of large fines and criminal prosecution for any breaches. In the current environment, AML and Economic Sanctions compliance is critical and must be a focus of the boards of directors, senior management, compliance officers and all staff of Regulated Entities and Authorities.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the seminar, participants will be able to have a thorough understanding of the current AML and Economic Sanctions critical considerations, the requirements, the challenges ahead and the new compliance landscape and more importantly to offer practical solutions for an efficient and effective implementation of AML and Economic Sanctions procedures and controls.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

Back-office Staff, Compliance Staff, Risk Management Staff, AML Staff, Heads of Compliance Departments, Heads of Risk
Management Departments, Heads of AML Departments, Accountants, Lawyers, Internal Auditors, External Auditors,
Executive Directors, Non-Executive Directors, Regulatory Compliance Advisors/Consultants

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Seminar Outline

AML & Economic Sanctions – Governance & Risk Assessment

• Foundations, Legislation, Importance
• Regulatory Authorities Stance
• How Money Laundering is Done
• Governance (GVR)
• GVR – Board of Directors
• GVR – Compliance Officer
• GVR – Internal Audit
• Risk Assessment (RA)
• RA - Politically Exposed Persons
• RA - High Risk Countries
• RA - Cyprus Investment Program
• RA – Adverse Media
• RA – Terrorist Financing
• RA – Sanctions
• RA – Customer Risk Factors
• RA – Countries and Geographical Areas Risk Factors
• RA – Products, Services and Transactions Risk Factors
• RA – Delivery Channel Risk Factors
• RA – Cyprus National Risk Assessment
• RA – MOKAS
• RA – Suspicious Transactions, Behavior

AML & Economic Sanctions – Identification & Economic Profile

• Identification and Verification
• Ground Rules
• Ongoing Monitoring
• Ultimate Beneficial Owners (UBOs)
• UBOs Registry
• Trusts Registry
• Technology
• Simplified Due Diligence Procedures (SDD)
• Customer Due Diligence Procedures (CDD)
• Enhanced Due Diligence Procedures (EDD)
• Economic Profile and Transactions Monitoring
• Ground Rules
• Matrix
• Variables
• Newtons 3rd Law of Motion

AML & Economic Sanctions – Sanctions & Prohibitions

• EU Sanctions (Packages 1st, 2nd, 3rd, 4th, 5th, 6th)
• EU Prohibitions (Articles 5b, 5f, 5m, 5n)
• Other Sanctions Regimes (UN, US, UK, Other Third Countries)
• Main challenges in Interpretations (Aggregation, Trusts, Indirect Exposure)
• Sanctions Compliance Program (SCP)
• Sanctions Danger Zones

AML & Economic Sanctions – Case Studies

• Case Studies – Governance & Risk Assessment
• Case Studies – Identification & Economic Profile
• Case Studies – Sanctions & Prohibitions

Certification

All participants will be awarded a certificate. Each hour of attendance will account for one unit of Continuing Professional Development (CPD) as required for members of most professional bodies.