Course Outline
The Anti-Money Laundering/Counter Terrorist Financing (AML/CTF) compliance manual is an essential component of a compliance system. It is a fundamental tool that ensures the protection against money laundering, terrorist financing, and other financial crimes, while at the same time ensuring that relevant laws and regulations are followed. Constructing a compliance manual suitable for a particular business can, however, be difficult, and may even prove to be counter effective if not properly structured.
For these reasons, the Law School of UCLan Cyprus is offering a professional course aimed at providing advanced students, professionals, and others, with an understanding in the fundamentals and principles involved in structuring an AML/CTF compliance manual. The course is in keeping with the mission of UCLan Cyprus, which is to offer high quality education and training to its advanced students, the professions, the business sector and the wider community.
The Course will aim to provide participants with:
• a guide to relevant domestic and international organisations, treaties, guidelines and other texts which are relevant to AML/CTF;
• an understanding of how to structure an AML/CTF compliance manual, how to identify AML/CTF type risks, how to adopt a risk-based approach, how to conduct client categorisation and how to undertake reporting requirements;
• an understanding of information security, its relevance to the operations of compliance, and practical measures of safeguarding critical data;
• an opportunity to consider practical scenarios based on real-life situations.
This Course is to be delivered at the premises of UCLan Cyprus. It may also be offered as in-house training for management, compliance personnel and employees at small and medium sized businesses such as law firms, accounting firms, and administrative service providers.
Course Structure
The Course will consist of six hours covering different substantive elements. The elements will, inter alia, cover the following subjects:
Element 1: Understanding Internal Policies, Procedures and Controls
• Which policies, procedures, and controls are necessary, how these are determined, and what documentation is necessary.
Element 2: The Compliance Officer
• Roles and responsibilities of the Compliance Officer. Who is best suited for the role and how the role relates also to the management and board of directors.
Element 3: Understanding the Risk Based Approach
• What is a risk-based approach and its importance within the context of a compliance manual.
Element 4: The Training Programme
• Training is one of the most important ways to stress the importance of AML/CFT efforts, as well as educating about actions to be taken in the event of suspicions. How and when should such training be undertaken.
Element 5: Independent Audit
• Putting your AML/CFT compliance manual into motion is not enough. The manual must be monitored and evaluated. The compliance manual needs to be assessed regularly to ensure its effectiveness. How to achieve all this.
Element 6: Know Your Customer Procedures
• A sound Customer Due Diligence procedure is one of the best ways to prevent money laundering and other financial crime. Knowledge is what the entire AML/CFT compliance system is built upon. The more you know about your customers, the greater chance of preventing
money laundering abuses.
Element 7: Information Security
• What is information security and the methods by which it can be integrated with the AML/CTF compliance system.
Element 8: Practical Examples and Real Life Experiences
• Practical cases and experiences.
By the end of the Course, participants will have gained a good understanding of how an AML/CTF program is structured and maintained. They will also have gained knowledge of relevant concepts, strategies, methods and techniques.
This Course will be relevant to:
• Past participants of the course The Fundamentals of Anti-Money Laundering and Counter-Terrorist Financing Compliance, organised by UCLan Cyprus in November 2017 (or equivalent).
• Advanced students in law, finance and business, accountancy, and cognate academic disciplines ;
• Practising lawyers, accountants and professional service providers;
• Management and compliance personnel and employees at small and medium sized businesses;
• Compliance Officers;
• Non-compliance personnel.
The course will be held on Saturday the 19th May 2018, between 9:00-15:00. The price for participation is €225 per person
which includes sandwiches and refreshments.
Certificates of participation will be issued. This Course is designed for the continuous professional development
(CPD) of professionals in Cyprus and internationally. It is also designed to familiarise participants with the activities
of the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Please complete this form http://www.uclancyprus.ac.cy/files/4215/0823/3371/AML_Course_Application_Form.docx
and submit it to Prof. Stephanie Laulhe Shaelou tel: 24 694008, email: [email protected]
