EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Flows of illicit money can damage the integrity, stability and reputation of the financial sector, and threaten the internal market of the Union as well as international development. Money laundering, terrorism financing and organised crime remain significant problems which should be addressed globally, but also at a European Union level.
Global efforts are made fight money laundering and terrorist financing. Following the FATF 40 Recommendations which are the globally recognized international standards against money laundering and terrorist financing, the European Union has issued up to date 6 anti-money laundering directives that Member States are required to transpose the relevant directives in their national legislation. The program will cover the current regulatory framework on an EU level and will equip the participants with the knowledge and skills required to perform their AML obligations.
Training Objectives
The programmes will:
- Provide an understanding of the main money laundering methods and practices.
- Present the current regulatory framework in Cyprus and the EU
- Present the Risk Factor Guidelines requirements with regards to business-wide and individual risk assessments.
- Establishing an appropriate AML program in an entity.
- Implement appropriate CDD procedures on a risk-based approach.
Training Outline
- Basic stages of money laundering
- International efforts to combat money laundering
- The EU regulatory framework
- The Cyprus AML Law
- AML Culture and Governance
- The risk-based approach
- Business-wide risk assessment
- Individual customer risk assessment
- Customer Due Diligence (CDD)
- Simplified Due Diligence (SDD)
- Enhanced Due Diligence (EDD)
- Suspicious Transaction/Activity Reporting (STR/SAR)
- Case studies and examples
Who Should Attend
- Legal advisors
- Compliance officers
- AML officers
- Senior managers
- Directors
- Employees in regulated entities
Industry Expert | Sophia Nearchou
Sophia is a lawyer in the Compliance department of our firm dealing with Anti Money Laundering & regulatory compliance matters and keeping the firm’s function in line with the law and regulatory requirements. During the course of her employment she has gained extensive experience, particularly in cases relating to US sanctions and EU restrictive measures and has been involved in the resolution of arising matters. She has also been in charge of performing due diligence measures and has given legal advice to clients pursuant to the international, EU and US obligations. In July 2016, Sophia successfully passed the Financial Services and Regulatory Advanced Examination of the by Cyprus Securities and Exchange Commission (CySEC), which is recognized by the Charted Institute for Securities and Investment (CISI) and which has familiarized her with the regulatory requirements relating to the securities and investments. She further participated on the drafting of advice for clients involved in the sector and assisted in matters including CRS/FATCA reporting and compliance. Furthermore, in order to provide more quality to the services and advice offered, during June 2018 Sophia took the examination of CISI on Global Financial Compliance and alongside the Certificate in Global Financial Compliance (Cyprus) which she successfully passed and was awarded the CISI Level 3 Award in Global Financial Compliance. Since then she has been an Associate of CISI. More recently, in June 2019, following a successful examination, she has obtained the Worldwide recognized and top level certificate in Money Laundering, the ACAMS certificate and is a member of CAMS Cyprus. Moreover, Sophia Nearchou has obtained recently the CySEC AML certificate.
Training Style
The programme is designed to deliver knowledge, consolidate, and enhance participants’ knowhow and skills via presentations, case-studies and practical examples. The use of interactive case studies will help participants to think critically about scenarios that will be relevant to their respective roles and organisations.
CPD Recognition
This programme may be approved for up to 5 CPD units in Financial Regulation & AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
