Course Detail(E154 : Anti-Money Laundering / Combating The Financing Of Terrorism (“AML / CFT”) Course)

E154 : Anti-Money Laundering / Combating The Financing Of Terrorism (“AML / CFT”) Course

4.50 CPE Hours (Category 2)
Classroom

 

Notice

Your enrolment would constitute that consent has been given to ISCA to release your personal information to ACRA for their verification and record purpose. Please ensure that your NRIC / FIN number submitted for the online enrolment is accurate.

 
Programme Objective

This course intends to provide Registered Filing Agents (RFAs) with sufficient knowledge and understanding in respect of anti-money laundering (AML) and counter financing of terrorism (CFT) to enable RFAs to better comply with prevailing ACRA and relevant Singapore’s regulatory requirements in this regard.

The course will be delivered over a 4.5 hours session and followed with a mandatory assessment to be separately administered by ACRA.

Programme Outline


The course is designed to enable RFAs to demonstrate:

  • knowledge and understanding of AML/CFT legislations, regulatory trends and developments in Singapore
  • knowledge and understanding of the AML/CFT environment in Singapore and international trends and typologies
  • knowledge and understanding of how to carry out risk assessment and conduct various types of customer due diligence
  • familiarity with ACRA Guidelines for RFAs
  • awareness of how ACRA’s Compliance review and inspections impact RFAs

 

Learning Outcomes

At the end of the Course, RFAs should be able to

  • explain how and why money laundering and terrorism financing is negatively affecting global economy
  • identify the global and local regulatory trends and typologies in AML/CFT
  • identify the stages of money laundering and terrorism financing and how their origins in criminal activities can be disguised in order to avoid the criminals involved from detection and prosecution
  • understand the risk involved for RFAs when dealing with money launderers, terrorists and sanctioned names 
  • recognise that such risks can be mitigated by RFAs complying with ACRA Guidelines and take appropriate steps to put in place relevant control mechanism
  • implement a reasonable, objective and consistent methodology in risk assessment
  • draft an appropriate IPPC for its business operation in order to comply with ACRA Guidelines
  • understand how to carry out customer due diligence, identification and verification of customer identity and corresponding record keeping obligations
  • put in place appropriate Compliance and Audit arrangement as well as Employee screening and training plans

 

Programme Outline
Event flow
(4.5 CPE Hour)
Registration
12pm to 1pm
Part 1:
  • Overview of AML/CFT globally
    • Financial Action Task Force (FATF)
  • Overview of legislation related to AML/CFT in Singapore
  • Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act [CDSA];
  • Terrorism (Suppression of Financing) Act [TSOFA];
  • UN Sanctions Act
  • ACRA Act and related legislation administered by ACRA
  • Local regulatory trends and typologies in AML/CFT 
1pm to 3pm
(2 hour)
Tea Break
 
3pm to 3.30pm
(0.5 hour)
Part 2:
  • Risk Assessment
3.30pm to 4pm
(0.5 hour)
Part 3:
  • ACRA Guidelines for RFAs
    • Development of appropriate IPPC
    • Customer Due Diligence
    • Identification and Verification of Identity of Customers, Agents, Beneficial Owners
    • Timing of Verification
    • Performance of CDD Measures by Third Party
    • On-going Monitoring
    • Simplified CDD vs Enhanced CDD and Monitoring
    • Recording Keeping
    • Audit and Compliance Management
    • Employee Screening and Training
4pm to 5.30pm
(1.5 hours)
Part 4:
Q & A (Pigeon Hole)
 
5.30pm to 6pm (0.5 hour)


Training Sessions:
 

Intakes
Dates
Organisers
Venue
Registration
Session 1
30-May-18
CSIS
STI
Session 2
22-Jun-18
ISCA
STI
 
Session 3
31-Aug-18
CSIS
STI
Session 4
15-Oct-18
ISCA
LLI
 
Session 5
16-Nov-18
CSIS
Marina One
Session 6
14-Dec-18
ISCA
STI
 
Session 7
11-Jan-19
CSIS
STI
Session 8
18-Jan-19
ISCA
STI
 
Session 9
15-Feb-19
ISCA
STI
 
Session 10
28-Feb-19
CSIS
STI
Session 11
15-Mar-19
CSIS
STI
Session 12
22-Mar-19
ISCA
STI
 
Session 13
28-Mar-19
CSIS / ISCA
PSB Academy
Session 14
5-Apr-19
CSIS
STI
Session 15
11-Apr-19
ISCA
LLI
 
Session 16
27-May-19
CSIS
TBC
Session 17
27-June-19
ISCA
ISCA




For more information on Mandatory Training and Proficiency Test requirements for Registered Filing Agents, please visit ACRA’s website or click here.
User-added image
This course has been accredited by the Singapore Institute of Legal Education (SILE) for the 22 Mar 2019, 11 Apr 2019 and 17 Apr 2019 intake only. Participants who wish to obtain CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the entire activity for more than 15 minutes. Participants who do not comply with the Attendance Policy will not be able to obtain CPD Points for attending the activity. Please refer to http://www.sileCPDcentre.sg for more information.

Training Methodology
Seminar style
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

All level

Competency Mapping

Category 2 = 4.50 Hours

Schedule & Fees

Date & Time

27 Jun 2019 (1:00 PM - 6:00 PM)

Fee (inclusive of GST)

For Members: $ 214.00
For Non-Members: $ 214.00

Programme Facilitator(s)

Chionh Chye Kit
Benjamin Ngo

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

11 Apr 2019 (1:00 PM - 6:00 PM)

Registration is closed

Programme Facilitator(s)

Chionh Chye Kit
Benjamin Ngo

Date & Time

05 Apr 2019 (1:00 PM - 6:00 PM)

Registration is closed

Programme Facilitator(s)

Chionh Chye Kit
Benjamin Ngo

Date & Time

22 Mar 2019 (1:00 PM - 6:00 PM)

Registration is closed

Programme Facilitator(s)

Chionh Chye Kit
Benjamin Ngo

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Chionh Chye Kit

Chye Kit is the Co-Founder and Managing Director of Cynopsis Solutions and is responsible for its general operation, strategic direction and product development in the headquarter, Singapore. Chye Kit has over 20 years of financial and capital markets experience in Asia gained largely from working in Macquarie Group and ING Bank. His last role with Macquarie was Managing Director and Joint Regional Head of Compliance, Asia. He started his career in an external audit role with PricewaterhouseCoopers specialising in audit of financial services providers. Chye Kit graduated with Honours Degree in Accountancy from Nanyang Technological University, Singapore. He is a Fellow of International Compliance Association, United Kingdom and is conferred the designation of "IBF Advanced" by The Institute of Banking and Finance in Singapore. On a part-time basis, Chye Kit is also engaged by International Compliance Training Academy as a tutor in their various offerings of Diplomas and Advanced Certificate in "Governance, Risk & Compliance" and "Anti-Money Laundering & Countering Terrorism Financing".

Benjamin Ngo

Benjamin Ngo is a Compliance Director in the Intertrust Group overseeing the compliance function in Singapore, Hong Kong and China. Benjamin provides valuable insight on AML issues to industry associations and has contributed towards industry feedback on consultations with ACRA on the prevention of money laundering and financing of terrorism. Benjamin’s areas of expertise include regulatory compliance, anti-money laundering and counter terrorist financing, sanctions, FATCA, data protection, business continuity planning, anti-bribery and corruption. Benjamin has dedicated close to 10 years in the compliance function of which the last 6 years have been in the trust and corporate services industry. His earlier experiences include positions in the compliance and AML functions of global banks.

 

Notice

Your enrolment would constitute that consent has been given to ISCA to release your personal information to ACRA for their verification and record purpose. Please ensure that your NRIC / FIN number submitted for the online enrolment is accurate.

 
Programme Objective

This course intends to provide Registered Filing Agents (RFAs) with sufficient knowledge and understanding in respect of anti-money laundering (AML) and counter financing of terrorism (CFT) to enable RFAs to better comply with prevailing ACRA and relevant Singapore’s regulatory requirements in this regard.

The course will be delivered over a 4.5 hours session and followed with a mandatory assessment to be separately administered by ACRA.

Programme Outline


The course is designed to enable RFAs to demonstrate:

  • knowledge and understanding of AML/CFT legislations, regulatory trends and developments in Singapore
  • knowledge and understanding of the AML/CFT environment in Singapore and international trends and typologies
  • knowledge and understanding of how to carry out risk assessment and conduct various types of customer due diligence
  • familiarity with ACRA Guidelines for RFAs
  • awareness of how ACRA’s Compliance review and inspections impact RFAs

 

Learning Outcomes

At the end of the Course, RFAs should be able to

  • explain how and why money laundering and terrorism financing is negatively affecting global economy
  • identify the global and local regulatory trends and typologies in AML/CFT
  • identify the stages of money laundering and terrorism financing and how their origins in criminal activities can be disguised in order to avoid the criminals involved from detection and prosecution
  • understand the risk involved for RFAs when dealing with money launderers, terrorists and sanctioned names 
  • recognise that such risks can be mitigated by RFAs complying with ACRA Guidelines and take appropriate steps to put in place relevant control mechanism
  • implement a reasonable, objective and consistent methodology in risk assessment
  • draft an appropriate IPPC for its business operation in order to comply with ACRA Guidelines
  • understand how to carry out customer due diligence, identification and verification of customer identity and corresponding record keeping obligations
  • put in place appropriate Compliance and Audit arrangement as well as Employee screening and training plans

 

Programme Outline
Event flow
(4.5 CPE Hour)
Registration
12pm to 1pm
Part 1:
  • Overview of AML/CFT globally
    • Financial Action Task Force (FATF)
  • Overview of legislation related to AML/CFT in Singapore
  • Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act [CDSA];
  • Terrorism (Suppression of Financing) Act [TSOFA];
  • UN Sanctions Act
  • ACRA Act and related legislation administered by ACRA
  • Local regulatory trends and typologies in AML/CFT 
1pm to 3pm
(2 hour)
Tea Break
 
3pm to 3.30pm
(0.5 hour)
Part 2:
  • Risk Assessment
3.30pm to 4pm
(0.5 hour)
Part 3:
  • ACRA Guidelines for RFAs
    • Development of appropriate IPPC
    • Customer Due Diligence
    • Identification and Verification of Identity of Customers, Agents, Beneficial Owners
    • Timing of Verification
    • Performance of CDD Measures by Third Party
    • On-going Monitoring
    • Simplified CDD vs Enhanced CDD and Monitoring
    • Recording Keeping
    • Audit and Compliance Management
    • Employee Screening and Training
4pm to 5.30pm
(1.5 hours)
Part 4:
Q & A (Pigeon Hole)
 
5.30pm to 6pm (0.5 hour)


Training Sessions:
 

Intakes
Dates
Organisers
Venue
Registration
Session 1
30-May-18
CSIS
STI
Session 2
22-Jun-18
ISCA
STI
 
Session 3
31-Aug-18
CSIS
STI
Session 4
15-Oct-18
ISCA
LLI
 
Session 5
16-Nov-18
CSIS
Marina One
Session 6
14-Dec-18
ISCA
STI
 
Session 7
11-Jan-19
CSIS
STI
Session 8
18-Jan-19
ISCA
STI
 
Session 9
15-Feb-19
ISCA
STI
 
Session 10
28-Feb-19
CSIS
STI
Session 11
15-Mar-19
CSIS
STI
Session 12
22-Mar-19
ISCA
STI
 
Session 13
28-Mar-19
CSIS / ISCA
PSB Academy
Session 14
5-Apr-19
CSIS
STI
Session 15
11-Apr-19
ISCA
LLI
 
Session 16
27-May-19
CSIS
TBC
Session 17
27-June-19
ISCA
ISCA




For more information on Mandatory Training and Proficiency Test requirements for Registered Filing Agents, please visit ACRA’s website or click here.
User-added image
This course has been accredited by the Singapore Institute of Legal Education (SILE) for the 22 Mar 2019, 11 Apr 2019 and 17 Apr 2019 intake only. Participants who wish to obtain CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the entire activity for more than 15 minutes. Participants who do not comply with the Attendance Policy will not be able to obtain CPD Points for attending the activity. Please refer to http://www.sileCPDcentre.sg for more information.

Training Methodology
Seminar style
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

All level

Competency Mapping

Category 2 = 4.50 Hours

Programme Facilitator(s)

Chionh Chye Kit

Chye Kit is the Co-Founder and Managing Director of Cynopsis Solutions and is responsible for its general operation, strategic direction and product development in the headquarter, Singapore. Chye Kit has over 20 years of financial and capital markets experience in Asia gained largely from working in Macquarie Group and ING Bank. His last role with Macquarie was Managing Director and Joint Regional Head of Compliance, Asia. He started his career in an external audit role with PricewaterhouseCoopers specialising in audit of financial services providers. Chye Kit graduated with Honours Degree in Accountancy from Nanyang Technological University, Singapore. He is a Fellow of International Compliance Association, United Kingdom and is conferred the designation of "IBF Advanced" by The Institute of Banking and Finance in Singapore. On a part-time basis, Chye Kit is also engaged by International Compliance Training Academy as a tutor in their various offerings of Diplomas and Advanced Certificate in "Governance, Risk & Compliance" and "Anti-Money Laundering & Countering Terrorism Financing".
Benjamin Ngo

Benjamin Ngo is a Compliance Director in the Intertrust Group overseeing the compliance function in Singapore, Hong Kong and China. Benjamin provides valuable insight on AML issues to industry associations and has contributed towards industry feedback on consultations with ACRA on the prevention of money laundering and financing of terrorism. Benjamin’s areas of expertise include regulatory compliance, anti-money laundering and counter terrorist financing, sanctions, FATCA, data protection, business continuity planning, anti-bribery and corruption. Benjamin has dedicated close to 10 years in the compliance function of which the last 6 years have been in the trust and corporate services industry. His earlier experiences include positions in the compliance and AML functions of global banks.

Upcoming Schedule

Date & Time

27 Jun 2019 (1:00 PM - 6:00 PM)

Fee (inclusive of GST)

For Members: $ 214.00
For Non-Members: $ 214.00

Programme Facilitator(s)

Chionh Chye Kit
Benjamin Ngo

Venue

60 Cecil Street
ISCA House
Singapore 049709