Anti Money Laundering (AML) Training Event - Are we enough to protect the Integrity of our Financial Systems

Background on AML Practices
With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance, Banks and other Financial Institutes are spending immense time, effort and money to achieve compliance. Needless to say, it is still not enough. The Black Swan can enter into any Financial Institute’s Branch on any given day and sting the Bank by surprise.

The implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels is a challenge. Therefore, awareness about the menace of money laundering and thorough understanding of the antimony laundering process and its current trends at all levels of staff of a bank/FI are ever growing necessities.

Program Details

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City: Bangalore
Date: August 27-28 2013
Time - 9.30 am to 6.00pm (Both days)
•Rs 9,500 plus Service Tax (Discounts available for large corporate enrolment/Students)
•Location – Hotel Regalis, Lavelle Road, Bangalore

The Challenge
Banks face growing costs to comply with AML requirements. With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance,Banks and other Financial Institutes are spending immense time and efforts to achieve compliance. Needless to say, it is still not enough.

The Black Swan can enter into any Financial Institute’s Branch on any given day and
sting the Bank by surprise.

The Challenge
The solution to the above challenge is the implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels

Overview and Summary
The course provides participants the understanding of AML, KYC and Terrorist Financing concepts and provides them with practical tools and methods required for implementation of the framework.

This is an instructor led course designed to provide a practical understanding of the new global framework for risk management. In this 2 days intensive course, participants gain a complete understanding for implementing risk management processes in their organization. Practical exercises and case studies help to better understand concepts and evaluation of multiple methods and techniques.

Course Agenda
Day one Emerging Challenges, implications and Introductions

10.45: What’s New and Recent Regulatory Developments in AML and FATF (Indian and International perspective)
--Regional perspectives from the USA, UK and Asia on enforcement and impact of ML.
--Prevention of Money Laundering Act (PMLA)- Overview and Key Provisions
--Recent developments in Indian regulations, PMLA updates
--RBI / SEBI Guidelines for KYC and AML

TEA BREAK

11:45 Introduction to Money Laundering
--Define money laundering and terrorist financing
--Identify the principal sources of laundered money
--Recognize the consequences of money laundering
--Post 9/11 International Convergence on prevention of money laundering

12:30 Know Your Customer Basics
--Define the KYC policy
--Identify the principal elements of the KYC policy
--Identify the risks of not implementing the KYC policy

LUNCH BREAK

14:30 Customer Profiling / Risk Profiling
--Objectives of customer identification in a KYC policy
--the challenges for business in establishing beneficial ownership
--Understand the typical higher risk and lower risk customer profiles
--Recognize higher risk and lower risk customer profiles
--Politically Exposed Person (PEP) Risk
--Examples of high risk customers and AML vulnerabilities

Tea break

15:45 US Patriot Act, Dodd Frank and other international regulations addressing AML
--Key aspects of US Patriot Act , UK Bribery Act
--Recent international Money laundering cases

16:45 Compliance Culture and strengthening Compliance Risk Management
--Robustness of compliance risk management
--Round the year AML trainings and awareness
--Staff accountability and disciplinary action

Day Two Strategies to Combat AML and Terrorism

9:15 Welcome Address Guest speaker/ Senior Management

10:00 Recognising and Reporting Suspicious Activities
--Recognize suspicious activities : Red Flags for Money Laundering Activity
--Reporting requirements as per PMLA , Increasing data quality & improving AML Analytics

Tea Break

11:45 Designing an effective AML Framework – Banking Perspective
--10 strategies to mitigate International Money Laundering Risks
--How to build and maintain effective AML and Sanctions controls
--Addressing AML in Institutes with multi country setup
--How Can Auditing AML activities strengthen AML Compliance?
--Integrating FCPA and Anti Bribery frameworks in AML strategies

Lunch & Networking Break

14:30 Use of AML Technology to detect money laundering
--Software demonstration of latest technologies
--Role and functions of such technologies in compliance and operational risk management
--Best Practices to Improve AML Audit Processes

Tea Break

15.45 Whistle Blowing, Corporate Governance and Money Laundering
--How to Integrate AML efforts whistle blowing framework
--Strengthening corporate governance framework to address ML and KYC violations

More information
Kindly Send nomination along with the payment and contact details (Name, Contact Number, email id) to : Manoj Jain (manoj.jain@riskpro.in) 98337 67114

Risk Category: 

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