CRITICAL FUNCTIONS OF A RISK-BASED AML/CFT/CFP/FCP SEMINAR DECEMBER 08, 2022
Critical functions of a Risk-Based Anti-Money Laundering, Countering the Financing of Terrorism and Countering the Financing of Proliferation, Financial Crimes Prevention Program
Tailored for Antigua and Barbuda and the Organization of Eastern Caribbean States (OECS)
ComplianceAid and AMLFC Institute in association with Antigua & Barbuda International Institute of Technology will host a one-day AML/CFT/CFP seminar tailored to Antigua and Barbuda and the Organisation of Eastern Caribbean States (OECS) market on Thursday December 8th, 2022, at Tradewinds Hotel in Antigua. This seminar will provide practical guidance to assist in safeguarding your institution with proper Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Countering the Financing of Proliferation (CFP) and Financial Crimes Prevention (FCP) measures.
During the seminar we will discuss the risk-based approach and provide guidance to assist your institution in meeting its obligations. Additionally, regulators have been emphasizing the importance of Know your Customer (KYC)/Customer Due Diligence
(CDD) and Enhanced Due Diligence (EDD), but some institutions have failed in achieving that goal. In this seminar, through the use of case studies, scenarios and role play, participants will learn how to conduct risk-based KYC/CDD, ask the right questions about the ultimate beneficiary of the funds, uncover politically exposed persons and undertake effective enhanced due diligence measures.
At the end of this one-day seminar participants will have learned how to:
- Identify and handle various money laundering, terrorist financing and proliferation financing schemes for instance: trade-based money laundering, fraud and other scams
- Conduct effective know your customer, customer due diligence and enhanced due diligence
- Develop a risk-based AML-CFT-CFP-FCP Program
- Learn how to develop a risk-based customer risk rating matrix for their institution (A customer risk rating matrix ensures that customers posing elevated levels of AML/CFT/CFP are properly identified and monitored)
Topics to be covered during the one-day seminar:
- AML-CFT-CFP-FCP Trends 2022
- AML-CFT-CFP-FCP Obligations under Laws and Regulations in OECS
- Roles & Responsibilities in AML-CFT-CFP
- Risk Based AML/CFT/CFP Policies & Procedures
- Know Your Customer (KYC)
- Customer Identification and Verification
- Customer Due Diligence (CDD)
- Politically Exposed Persons (PEP)
- Ultimate Beneficial Owners (UBO)
- Artificial Intelligence, Machine Learning and Facial Recognition in AML-CFT-CFP-FCP
- Enhanced Due Diligence (EDD) / High Risk Customers (HRC)
- Customer Risk Rating (CRR)
- Transaction Monitoring (TM) to include Rules-Based vs. Behaviour-Based
- Suspicious Activity/Transaction Report (SAR/STR)
- Terrorism in the Caribbean
- Non-Profit Organization (NPOs)
- Human Trafficking in the Caribbean
- Cybersecurity and Privacy
- AML/CFT/CFP/FCP obligations around Digital/Virtual Assets/FinTech
WHO SHOULD ATTEND?
This seminar is ideal for Board Members, Regulated Business Owners, Management, Compliance Officers, Auditors, Government Regulators, Law Enforcement Officers, Internal & External Auditors, Risk Management Specialists from all AML-CFT-CFP regulated industries to include Attorneys, Accountants, Car Dealerships, Casinos & Gaming, Commercial Banks, Credit Institutions, Credit Unions, Dealers in High Value & Luxury Goods, Dealers of Precious Metal, Art or Jewelry, Development Banks, Import & Export Businesses, Insurance Companies, International Banks, Money Value Transfer Services (MSB), Mortgage Companies, Offshore Banks, Real Estate, Service Providers, Travel & Leisure, Trust & Company, etc.
BENEFITS OF ATTENDING
- Up to 6 CPEs are awarded
- Certificate of attendance is provided
- Comply with mandatory AML-CFT-CFP-FCP annual training requirements
ComplianceAid and the AMLFC Institute are registered sponsor on the NASBA National Registry of CPE Sponsors.
The recommended CPE credits for this seminar are in accordance with NASBA standards.