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

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.