Anti-money laundering and CFT
In today’s environment the demands on senior management are ever increasing, not only must they take responsibility for the firm’s anti-money laundering (AML) measures.
They must also know and understand the money laundering risks to which the firm is exposed to, and ensure that steps are taken to mitigate those risks effectively.
This is no easy task, and can be even more difficult in the changing financial crime landscape, without the necessary tools, resources, and know-how.
Our consultants has over 20 years of extensive knowledge and experience in assisting corporations mitigate the risk of Money laundering. The constant Horizon Scanning of the financial crime landscape, means that we are always up-to- speed with the latest trend of risk, and mindset of the regulators.
Our approach is simple, first we carry out a thorough analysis of your current Anti-money Laundering/financial crime framework, to assess whether or not you are meeting all of your legal obligations. Our subject matter expert will then systematically scrutinize the following.
Governance structure
An assessment to understand and verify the role played by Senior management in the organisation.
Systems and Data
Financial crime compliance programs are increasingly reliant on IT systems and the quality of customer and transaction data.
Policy and procedures
Assessing to see if such are in line with regulatory requirements and are tailored for the risk of the business, this will include but not restricted to the following.
• Customer Due Diligence
• Transaction Monitoring
• Investigation and reporting
• Intelligence gathering, incident management and communications
• Remediation of existing deficiencies.
• Assurance, monitoring and Board reporting
• Regulation change management and environmental screening
• Risk assessment
• Source of wealth and source of funds
• Enhance due diligence
• Enhance on-going monitoring
• Dealing with law enforcement
• Record keeping
• Countering the financing of terrorism
• Customer payments
Training and awareness
At Leifs&Williams we believe knowledge is power, so equipping our clients to meet the challenges of preventing and managing money laundering within the organisation is very important to us. We offer three levels of AML training.
Introductory
A sensible, introductory-stage course with a view to provide you with a strong expertise of core money laundering and terrorist financing risks and skills.
Suitable for operational or the front-line staff, in addition to those considering embarking on a new profession in AML. Candidates will learn
- Understanding Money Laundering, Terrorist Financing and Sanctions
- Vulnerabilities of financial institutions to money laundering and terrorist financing
- Anti money laundering and combating terrorist financing in practice
- Anti money laundering and combating terrorist financing – legal and regulatory structures
- Management obligations and the risk-based approach to money laundering and terrorist financing
Intermediate
An intermediate stage route designed both for the ones in an AML role and those seeking to embark on a brand new career in AML. You’ll gain actionable, practical expertise to excel in your position. Candidates will learn
• Managing the Risk of Money Laundering and Terrorist Financing
• Legal and Regulatory Framework
• AML in Practice
• Sanctions
• Customer Due Diligence (CDD)
• Transaction Monitoring and Filtering Framework
• Suspicious Activity Reporting
• Emerging Industry Sectors
• Escalations and Exits
Advanced
We also deliver specifically tailored course to meet specific remedial requirements, please get in touch for more information.