June 7 – 9 2023
(Lagos/Abuja Time Zones)

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risktech & Advisory Limited.

All our 2023 Live, on-site and live Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to bring this course in-house? Simply contact us for significant cost savings and dates to meet your business and/or professional development goals.

Session 1: The Scale of the Problem

Session 2: The Global Response

Session 3: Elements of a Risk-Based Approach

Session 4: Constructing the Anti-Money Laundering (AML) Framework

Session 5: Applying a Risk-Based Approach

Session 6: Roles of Internal/External Audit, etc

Session 7: International Sanctions

Session 8: Terrorist Financing

Session 9: The US Dimension

Session 10: Financial crime and data mining

Money laundering and the financing of terrorism are areas of increasing global business and governmental concern. The challenge is that training tends to focus narrowly on the requirements yet loses sight of the practical objectives and outcomes for anti-money laundering and terrorist financing training and awareness.

• Staff that deal with clients on a day-to-day basis
• Internal auditors
• Compliance specialists
• Risk Managers
• Financial Crime Managers
• Nominated Officers (NO)

The Scale of the Problem

• What is financial crime? 

• The size of the problem 
• How has financial crime changed during the crisis  
• Lessons from recent scandals 
• What is “money laundering?” 
• Anti-bribery and corruption 

• Terrorist financing 
• Tax transparency 
• What really matters?  

Case Study:  What are the key considerations and concerns that your Board has with regard to financial crime  

The Global Response

• The FATF and its role 
• The non-compliant country list 

• The FATF recommendations 
• Guidance on correspondent banking 
• Risk-based approach guidance for the securities sector 
• Financing of recruitment for terrorist purposes 
• Financial flows from human trafficking 

• Concealment of beneficial ownership 
• Money or value transfer services 
• Virtual currencies 
• Corruption 
• Prepaid cards, mobile payments, and internet-based payment services 

• AML and financial inclusion 
• BIS standards on money laundering deterrence 
• The EU directives including the 5th directive 
• Wolfsberg Principles 
• Transparency International 

• Developing policies 

Case Study:  What should be the key elements of AML deterrence policies and procedures? 

 Elements of a Risk-Based Approach: 

• Assessing vulnerabilities and risk 
• The Risk Matrix 
• Customer due diligence 
• Client take on 

• Relying on the others and “equivalence” 
• Monitoring people by staff and/or IT 
• Reporting internal and to law enforcement/local authorities 
• The role of the MLRO/Nominated Officer (NO) 
• Management Information (M.I.) and oversight 

Case Study:  Applying risk assessment in practice 

 Constructing the Anti-Money Laundering (AML) Framework   

• Policies 
• Roles and Responsibilities 
• Senior Management and M.I. requirements  
• The MLRO/NO (or equivalent) challenge! 
• Risk Assessments and Procedures 

• Training and Awareness 
• Warning signs 
• Monitoring and record-keeping 
• Data mining 
• Reporting and dealing with the authorities 

• Review and evaluation  

Case Study:  Compare AML frameworks – what really works? 

 Applying a Risk-Based Approach 

• Complications of PEPs 
• Enhanced due diligence 
• Offshore “situations” and issues 
• Due diligence (ongoing) 

• Record keeping 
• Training 
• Monitoring 
• Reporting 
• Questions/Feedback/Discussion 

Case Study:  When is a Pep a PEP and what this is likely to mean.  Practical documentation driven case study 

Roles of Internal/External Audit, etc. 

• The 3 lines model and financial crime deterrence  
• Providing Assurance 
• Adding Value 
• A common understanding of risk 

• Lessons from the UK and global failures 
• The contribution of H.R., Training, Risk, I.T., and others 

Case Studies:  Consider real cases and identify the actions that should have been taken.   

 International Sanctions 

• The sanctions regime 
• Sectoral sanctions 
• The UN and EU and local legislation 

• Purposes of Sanctions 
• Sanctions risks 
• Linkage to ML and other financial crime 

Case Study:  Dealing with warning signs 

 Terrorist Financing 

• What is a terrorist? 
• Nature of financial activity 

• Warning signs to look out for 
• Types of business which might be a concern 
• Where is information available? 
• Additional activity required 
• Building an appropriate structure  

• Conducting the investigation 

Case Study:  Develop a series of warning signs to identify terrorist financing concerns 

 The US Dimension  

• Extra territoriality- US PATRIOT ACT 
• OFAC and Enforcement 
• FCPA, bribery, and corruption 

Case Study:  Review examples of US cases – what went wrong? 

Financial crime and data mining  

• Structured vs. unstructured data 
• The challenge of data mining and financial crime 
• Opportunities 

• Non-statistical approaches 
• Understanding and using the psychology of financial crime 
• Common indicators  
• A data mining framework  
• Detecting and combating money laundering activities 

• Data mining and fraud detection 
• Data mining and other types of financial crime 
• Tax evasion 
• Corruption 
• Insider dealing, market abuses 

• Using the results of Data Mining for investigations and prosecutions 

Case Study:  Where is data mining of greatest importance?  Who should be responsible for undertaking this work? 

By the conclusion of this course, delegates will have gained a thorough understanding of the nature of financial crime regulation, risks, and obligations. They will have considered the mitigating controls that a bank should implement and would understand:

• What money laundering and terrorist financing really are.
• The techniques used by money launderers and terrorist financiers
• The rules and regulations applied to the issues relating to suspicion and reporting.
• The role of sanctions and sanctions risk
• The key elements of the risk-based approach
• The control structures they would wish to employ in their bank.
• The role of data mining and the value it can add
• The role of warning signs
• How to deal with concerns

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory. 

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes. 

(An invitation via email with access link is included for all participants.)