Foundation Course for new Financial Crime Risk Officers

The Essential Seminar for new Money Laundering, Fraud and other financial crime team members.

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

Max 20 delegates

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 first year or so 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


Extra Territorial effect of laws - i.e. how the laws of other countries affect you and your company including EU Directives, USA PATRIOT Act and more


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)


 

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?


How do I know if I'm suspicious?

A discussion of factors that generate and / or reject suspicion (this is a short introduction to part of our Advanced Due Diligence course).


Case studies - interactive study of real cases.

Drawn from several industries and countries


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. In early 2014 he will publish "How does that make you feel?" subtitled "Understanding suspicion in money laundering and terrorist financing."


 

 

© 2015 Nigel Morris-Cotterill
All rights reserved