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School of Law / Seminars and Events  / October 24, 2017

PROFESSIONAL COURSE: The Fundamentals of Anti-Money Laundering and Counter-Terrorist Financing Compliance

 PROFESSIONAL COURSE The Fundamentals of Anti-Money Laundering  and Counter-Terrorist  Financing Compliance

Course Outline
Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) compliance is increasingly becoming an integrated part of the international financial service industry and the legal profession. Designated Non-Financial Businesses and Professions (DNFBPs), such as those relating to accountants, lawyers, bankers and financial service providers are ever more expected to be knowledgeable of AML/CTF compliance laws, procedures and regulatory frameworks and practices. Any failure to comply with the relevant laws, principles and procedures, may result in civil proceedings, criminal proceedings, disciplinary proceedings or a combination of the three.

For these reasons, the Law School of UCLan Cyprus is offering a professional course aimed at providing advanced students, professionals and others with a broad and extensive understanding of AML/CTF compliance fundamentals and principles. In line with the mission of UCLan Cyprus, the course offers high quality education and training, not only to its advanced students, but also to other professionals, to the business sector and the wider community.

The Course will aim to provide participants with:
• an overview of what is meant by money laundering and terrorist financing, how each operates, how each can be detected and how each affects various professions, businesses and industries;
• an understanding of how to structure an AML/CTF compliance programme, how to identify AML/CTF type risks, how to adopt a risk-based approach, how to conduct client categorisation and how to undertake eporting requirements;
• a guide to relevant domestic and international organisations, treaties, guidelines and other texts which are relevant to AML/CTF;
• an introduction to AML/CTF laws in England and Wales, and the Republic of Cyprus, and the wider European Union;
• an opportunity to consider practical scenarios based on real-life situations.

This Course is 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 be delivered at an introductory-to-intermediate level. The Course will consist of four substantive elements. Each element will be taught in seminar format, each of which lasts 90 minutes. The four elements will, inter alia, cover the following subjects:

Element 1: The Fundamentals of AML/CTF
• The History of AML/CTF
• AML/CTF in wider context: the causes and consequences of corruption
• Money Laundering
• Terrorist Financing
• Sanctions & Restrictive measures
• The Compliance Concept


Element 2: The Legal Framework
• International Organisations
• EU Directives
• International Compliance
• English Laws and Regulations, plus Regulatory Authorities
• Cypriot Laws and Regulations, plus Regulatory Authorities


Element 3: The Compliance Functions
• Key Elements of an AML/CTF Compliance Programme
• Suspicious Transaction Reports
• Responding to Investigations and Audits
• Preventing Disasters / Dealing with Disasters


Element 4: AML Principles and the Legal Profession
• The legislative and regulatory framework in England and Wales
• Members of the legal profession as 'gatekeepers' and 'guardians' of the rule of law
• AML/CTF Principles
• Guidance issued by the Law Society of England and Wales
• Case studies based on historical and recent examples drawn from various judgments

By the end of the Course, participants will have gained a good understanding of AML/CTF concepts, strategies, methods and techniques. Participants will also have obtained knowledge of the legal framework that regulates AML/CTF compliance.

This Course will be relevant to:
• advanced students in law, finance and business, accountancy, and cognate academic disciplines;
• Practising lawyers, accountants and professional service providers;
• management, compliance personnel and employees at small and medium sized businesses Compliance officers;
• Non-compliance personnel.

 

The course will be held on Saturday 25th November 2017 between 10:00-16:00. The price for participation is € 200 which includes sandwiches and refreshments.

Participants will be awarded with Certificates of Participation.

This Course is designed for the continuous professional development (CPD) of professionals in Cyprus and internationally. It also familiarises the 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: slaulhe-shaelou@uclan.ac.uk

 

Tutors
George Chr. Pelaghias

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George Chr. Pelaghias is a lawyer and certified anti-money laundering specialist. He is admitted to the Swedish Association (Advokat) and the Cyprus Bar Association (European Lawyer). He currently serves as the AML compliance officer of the Law firm Chr. G. Pelaghias & Co LLC.

In addition to compliance, Mr. Pelaghias focuses on corporate and international tax, hydrocarbon legislation, and regulatory issues connected to collective and private investment structures licensed by the Cyprus Securities and Exchange Commission.

He is a member of the Association of Certified Anti-Money Laundering Specialists (ACAMS), and is a founding member, and a member of the board of directors, of the Cyprus Chapter of ACAMS.

Mr. Pelaghias also holds the position of Executive Director of the European Rim Policy and Investment Council (ERPIC), a Cyprus-based think-tank focusing on legal, geopolitical, and energy issues in the Near East and the Eastern Mediterranean basin. He is a frequent speaker at international conferences, and has lectured at European and American universities.

Mr. Pelaghias holds an M.A. in History (2006), and an LL.M (2008) from Uppsala University, Sweden, is a Certified Anti-Money Laundering Specialist (CAMS), and is listed in the Public Register of the Cyprus Securities and Exchange Commission.

Dr. Klearchos A. Kyriakides

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Klearchos A. Kyriakides holds an LLB Hons (Law & Politics) Degree from the University of Birmingham, an MPhil (International Relations)
Degree together with a PhD (History) Degree from the University of Cambridge and a Postgraduate Diploma in Legal Practice from the
University of Westminster. He is an active member of the legal profession, as well as academia.

Since completing his studies, Klearchos has been an active member of the legal profession, as well as academia.

In relation to the legal profession, Klearchos is qualified as a Solicitor of the Supreme Court of England and Wales in 2003. Thereafter, until 2007, he practised Law in private practice in London. Since 2007, he has been a non-practising Solicitor and member of the Law Society of England and Wales.

For more than a decade, Klearchos has served as an Executive Committee Member of the West London Law Society; he also led the Society as its elected President from 2010 until 2011. From 2006 until 2013, Klearchos served on the Executive Council of the Hertfordshire Law Society. From 2007 until 2013, he served on the Learning and Development Sub-Committee of the Hertfordshire Family Justice Board.

As regards the academic career of Klearchos, this began in 1995 when, for twelve months, he held a Research Fellowship at the erstwhile Royal Air Force Staff College in Bracknell, Berkshire. From 1997 until 1998, he served as an Independent Academic Member of the Chief of the Air Staff's Air Power Workshop. From 1996 until 2009, he was an occasional visiting guest lecturer and course director on strategic studies courses organised for H.M. Forces by the Institute of Continuing Education at Madingley Hall, part of the University of Cambridge. From 2002 until 2015, Klearchos worked in the School of Law of the University of Hertfordshire, latterly as a senior lecturer teaching on various LLB and Legal Practice Course modules.

Since 2015, Klearchos has been an assistant professor in the School of Law of the Cyprus Campus of the University of Central Lancashire (UCLan Cyprus). At UCLan Cyprus, Klearchos has taught on a number of modules primarily relating to the English Legal System, Professional Skills and Public Law.

Away from UCLan, Klearchos directs the Rule of Law Programme of the European Rim Policy and Investment Council (ERPIC), a think tank based in Larnaca.

Klearchos is the author of a number of articles and other publications on a diverse array of subjects, which reflect his cross-disciplinary education and professional career.