CONTENT
course content
Dates and times
06/11/2024
9:00 - 14:30
30-minute break included
Course content
Unit 1: The necessity for a new EU AML/CTF System
- If it ain’t broke, why fix it? Hint: The system has broken.
- Why have we been failing?
- Why EU needs an orchestra, and not only soloists.
- The pieces of the puzzle and next steps.
Unit 2: Regulation on the prevention of the use of the financial system for ML/TF
- The Fourth EU AMLD, turbocharged: a broad view of the upgrades
- The risk variables, repopulated.
- An old-times favourite, revisited: Third countries and high-risk. Bringing things in line with FATF (almost).
- The Compliance Manager: the buck does not stop here.
- Beneficial owner registration for risky foreign legal entities. What does this have to do with us?
- PEPs: some tidying up is in order.
- Beneficial owner identification: the next frontier.
- Enhanced due diligence: NOW you are talking.
- Higher risk factors: Anyone said anything about non-face-to-face business relationships?
- Suspicious activities and transactions: Assistance is coming.
Unit 3: The Sixth EU AML Directive
- National risk assessments and risk statistics: More info please.
- Obliged entities: Why have only a few types, when we can have more?
- Central registers of beneficial ownership: Here we go again (hopefully, to get it right this time).
- The knock at your door by your friendly Registrar of Companies.
Unit 4: Regulation establishing the Authority for AML & CTF (‘AMLA’)
- The One ring to rule them all.
- AMLA tasks with respect to ML/TF risks facing the internal market
- AMLA tasks with respect to Selected Obliged Entities
- For whom the bell tolls: the selection of obliged entities
Unit 5: Sanctions and Restrictive Measures
- Sanctions: The means to an end.
- The types of sanctions Cyprus enforces and why not have our own.
- Criminal offences for EU sanctions’ violations
- The particular case of the Restrictive Measures against Russia
- Council Regulation (EU) No 269/2014
- Council Regulation (EU) No 833/2014
- Asset freeze, ownership and control criteria – it does get personal.
- Financial sanctions: Restrictive measures in relation to the provision of investment services, deposits, SWIFT Ban.
- Reporting on outgoing transfers.
- Jurisdiction and US secondary sanctions.
- Q & A and Case Studies! (lots of them).
suitable for
- Legal professionals,
- Auditors/Accountants,
- Risk Managers,
- AML Compliance officers of Obliged Entities (regulated financial institutions including credit institutions, investment firms and fund managers, administrative service providers and others),
- Board members of financial institutions responsible for the implementation of AML/CFT law and regulations.