About this Online Workshop

Consisting of the UK’s leading Trade Associations from across the financial services industry, the Joint Money Laundering Steering Group (JMLSG) is a private sector body that produces guidance for firms represented on JMLSG by their trade member bodies, helping them to comply with their anti-money laundering obligations, counter-terrorist financing legislation and regulations from the FCA.

The JMLSG guidance provides a base from which management can develop tailored policies and procedures that are appropriate for their business. It remains the responsibility of a firm to make its own judgment on individual cases on a risk-based approach. This is where training interventions are of utmost importance.

Firms have a legal duty to train their staff regarding the obligations set by the FCA. This workshop is intended to help firms meet this legal obligation by providing employees with an understanding of the legal framework, the specific criminal offences relating to AML and their personal responsibilities.

We will also discuss the firm’s responsibility to implement adequate systems and controls following a risk-based approach, particularly in relation to Customer Due Diligence and Know Your Customer.

This is a pre-recorded workshop.

Learning outcomes:

• Understand the nature of the money laundering and terrorist financing risks facing financial services firms
• Understand and appreciate the elements necessary to create the right corporate culture
• Understand your responsibilities within the regulatory landscape and the effects of failing to comply with the Regulators
• Learn the practical steps required to manage money laundering and terrorist financing risks, including customer due diligence and suspicious activity reporting
• Recognise key elements of ‘Know Your Client’ documentation 
• Learn how to investigate more quickly and escalate suspicious activity
• Learn how to develop a solid overview of your firm’s vulnerabilities and the controls and procedures needed to address them

Agenda:

• What is Money Laundering?
• The Legal Framework and Money Laundering Regulations
• Money laundering and terrorist financing
• FCA Supervision
• JMLSG Guidelines
• International Regulatory Standards
• Suspicious activity indicators and transaction reporting 
• Setting up effective KYC procedures
• Customer due diligence and record-keeping. Learn how to carry out Risk Assessments and best practice monitoring techniques
• Step by Step guide to setting up a Financial Action Task Force
• Analyse the effectiveness of your firm’s AML/CTP processes and procedures
• Practical Tips in AML Management
• Best Practice for setting up an action plan

Who should attend:

• Financial Crime Practitioners
• MLROs or SMF17
• Deputy & Assistant MLRO’s
• Compliance Officers