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…. An Executive Coaching Session On …. Anti Money Laundering : Risk Based Approach
Risk Based Approach for Managing
Money Laundering Risk Singapore Kuala Lumpur Manila Bangkok
Dear Colleague,
The continuing threat of money laundering through financial institutions is most effectively managed by understanding and addressing the potential money laundering risks associated with customers and transactions. Therefore, ProEdge Global together with CFE In Practice has developed this program to assist institutions in managing money laundering risks and further the goal of government’s initiatives to prevent the use of their banking & financial institutions for criminal purposes.
It is well understood that money launderers go to great lengths to make their transactions indistinguishable from legitimate transactions. Accordingly, it is difficult for a banking or financial institutions to distinguish between legal and illegal transactions,
notwithstanding the development and implementation of a reasonably designed risk based approach in an institution’s anti-money laundering program.
An assessment of money laundering risks will result in the application of appropriate due diligence when entering into a relationship, and ongoing due diligence and monitoring of transactions throughout the course of the relationship. A reasonably designed risk based approach will provide a framework for identifying the degree of potential money laundering risks associated with customers and transactions and allow for an institution to focus on those customers and transactions that potentially pose the greatest risk of money laundering.
ProEdge Global believes that this program will support risk management and assist banking & financial institutions in exercising business judgement with respect to their clients. Accordingly, this program seeks to articulate relevant considerations which institutions may find useful in developing and implementing a reasonably designed risk based approach. The specifics of an institution’s particular risk based process should be determined by each institution based on the operations of that institution.
This program is not designed to prohibit potential customers from engaging in transactions with institutions, but rather assist institutions in effectively managing potential money laundering risks.
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Key Topics
Emerging and Continuing Trends of Money Laundering
- Trade-based money laundering typologies
- Abuse of non-profit organisations (NPOs)
- Use of offshore banks/corporations
Money Laundering – Dealing with the myths - What is money laundering (ML)?
- Why the three staged laundering model can be misleading in practice
- Primary and secondary laundering objectives
- Being realistic about ML – who poses the threat?
Money Laundering Vulnerabilities - Relevant jurisdictional features
- Companies and corporate services
- Trusts and trustee services
- Private banking
- Non face-to-face relationships
- Case studies
Managing ML Risk Practicaly - A risk-based approach – what does it mean in practice?
- Risk profiling – what are the key features of client relationships?
- Effective relationship monitoring
- Enhanced measures for higher risk customers
- Common errors
Organisational and Human Factor Issues - Commercial pressure to succeed
- Malleability
- Bonus driven environments
AML Supervisory Framework : Risk Based Approach - Anti-money laundering risk management system
- Assessment of high risk areas, products and services
- The Risk-Based Approach – purpose, benefits and challenges
- Implementation of the Risk-Based Approach
- Application of a Risk-Based Approach
- Key elements to success
Regulatory Updates & Developments - International developments in combating money laundering and terrorist financing
- AML/CFT compliance framework
- Challenges and issues involved from the Malaysian perspective
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Who Should Attend
This course will provide an invaluable insight for :
- Chief Executive Officers
- Corporate/Managing Directors
- Chief Operating Officers
- Chief Financial Officers
- Chief Compliance Officers
- Chief Internal Auditors
- Chief Operating Officers
- Private Bankers
- Heads of Internal Audit/Corporate Audit
- Finance Directors
- Heads of Legal & Compliance Department
- Heads of Regulatory Affairs
- Risk Management Heads
- AML Regulators
- In-house General Counsels
- Forensic Accountants
- and Executives with responsibility for developing and monitoring AML internal control
Please contact us for more details. Back to top
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