Anti-Money LaunderingHeads Up Compliance - Anti-Money Laundering Course
In the UK alone it is estimated that money laundering costs around £40 billion per year. Law firms are obvious targets for money launderers because of the services they provide.
The "Client Account” is supremely attractive to money launderers, money passed through a firm of solicitors gains credibility.
Getting it wrong in relation to money laundering can be costly and may lead to fines, imprisonment and irreparable damage to reputation, so it is essential you get things right.
- Could you identify the key signs of money laundering?
- Do you know who to report suspicions to and what happens when you make a suspicious activity report?
What You Will Learn
This course will cover the following:
- What is money laundering?
- Who launders money?
- The three stages of money laundering.
The Terrorism Act 2000
The Proceeds of Crime Act (POCA) 2002 - including principal offences and their defences.
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) including:
- Risk assessment
- Customer due diligence (CDD)
- Transparency of beneficial ownership of companies and trusts
- Record keeping
- Internal procedures and policies
- The role of the MLRO and their reporting duties.
The 'Heads Up Compliance - Anti-Money Laundering' course begins with a short 5 minute video introducing the topic. This is followed by 'real world' scenarios and a multiple choice questionnaire allowing the user to show understanding.