Training Objectives

The programmes will:

• Provide an understanding of the main money laundering methods and practices.
• Present the current regulatory framework in Cyprus
• Present the Risk Factor Guidelines requirements with regards to business-wide and individual risk assessments.
• Present the main amendments expected by the transposition of the 6^th AML Directive.
• Establishing an appropriate AML program in an entity.
• Implement appropriate CDD procedures on a risk-based approach.

Training Outline

Money laundering basics

Terrorist Financing

International Bodies to combat ML/TF

The EU regulatory framework

The risk-based approach

• Business wide risk assessment
• Individual business relationship risk assessment

Customer Due Diligence (CDD)

Standard CDD

Simplified Due Diligence (SDD)

Enhanced Due Diligence (EDD)

Recent and Upcoming Regulatory Updates

Sanctions

Suspicious Transaction/Activity Reporting

Money Laundering methods

Who Should Attend

• Legal advisors
• Compliance officers
• AML officers
• Senior managers
• Directors
• Employees in regulated entities

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.

This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 5 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.