AML Essentials: A Seminar for Compliance Beginners
Course Number: Seminar
Course Code: n/a
Are you initiating a career as an AML Compliance professional ?
Are you in need of an AML essentials refresher seminar?
Are you interested in obtaining a better understanding of AML basics as they impact your professional responsibilities?
Then this seminar will assist you in achieving these goals.
At the completion of the seminar, participant would have reviewed concepts related to:
-Four Pillars in an AML Program
-The Fifth Pillar and New Requirements associated with Beneficial Ownership
-Difference between CIP (Customer Identification Program), CDD (Customer Due Diligence) and EDD (Enhanced Due Diligence)
-A review of requirements associated to the CDD Beneficial Ownership final rule implemented on May 11, 2018, and the importance in account on-boarding of commercial accounts.
-Growing threats associated to ID fraud and CIP validation process
-The concept of beneficial ownership and importance of accurate client identification
-Private Investment companies (PICs) and multi-layer corporate structures
-Legal implications and potential exposure to Civil Penalties and/or Enforcement Actions in your present and future career
-OFAC: What is required from us?
-Potential risk and exposure when doing business with international clients: Specially Designated Nationals and overview of OFAC Sanctions
-Senior Political Exposed Persons: Implications, Risk and Identification
Audience: Participants who are beginning their career in BSA/AML Compliance, and staff in financial institutions with direct customer contact who want to obtain a general and basic understanding of the impact that Compliance has in their job responsibilities.