Programme Objective
 
Increased scrutiny from the G20 on Money Laundering Practices, changes to the Financial Action Task Force Recommendations, and an increased appetite for sanctions against offending firms have all contributed to increased regulatory burdens being placed on financial services organisations and their employees. 

This course will give participants an overview of the current risk and liability regime centred on Anti-Money Laundering (AML). Using a mixture of recent, real-life cases, and scenario analysis, including previously imposed fines, business limitations, licence revocations, and personal punishments, this one-day session will explore the issues pertaining to compliance risks and developing AML typologies. The learning journey will develop through illustration of real-life scenarios to allow participants to see the wider business implication of poor analysis and internal controls.   

Programme Outline

International Money Laundering Frameworks and Conventions

• A look into the key international bodies, treaties, frameworks and conventions which have been established to combat money laundering and terrorist financing, including an idea of how and why these developed in the way they did.

Developments & Changes in the Regional and Local Regulatory Environment

• Overview of the Singapore National Risk Assessment
• What updates have been made and how do these differ from other regulations and previous Notices?
• How are these changes linked to the changing of the Recommendations from the Financial Action Task Force?

Combating Money Laundering Activities

• What is being done in the global marketplace to fight back against criminals who always seem one step ahead?
• An overview of KYC, including the core components which comprise an institutional KYC Framework.

Emerging AML Trends and Threats (including Key Challenges)

• A look at key trends impacting financial institutions today from an AML perspective, including cyber security, virtual and digital currencies, trade-based money laundering, and resource constraints.

Overview of the Risk-Based Approach

• What is the Risk Based approach in theory and in practice?
• Risks - Reputational, Operational, Legal, Personnel.
• Suspicious Activity and filing of Suspicious Transaction Reports (STR's)

Virtual and Digital Currencies

• What is virtual and digital currencies?
• Regulatory frameworks in this regard
• Issues, challenges and recommended strategies to mitigate risks faced by businesses and individuals including the regulators

Training Methodology

• Lecture style with individual and group exercises
• Deliberation of case studies
• Games and group discussions

 
Closing Date for Registration

1 week before programme or until full enrolment

Intended For

• Company Directors/Executives
• Chief Compliance Officers/Heads of Governance/Risk/Compliance (GRC)
• Compliance Managers and senior GRC staff
• Senior risk staff
• Governance/Finance professionals
• AML and Finance professionals

Programme Facilitator(s)