Anti-Money Laundering and Regulatory Compliance
Increased scrutiny from the G20 on Money Laundering Practices, changes to the Financial Action Task Force Recommendations, and an increased appetite for sanctions against offending firms have all contributed to increased regulatory burdens being placed on financial services organisations and their employees.
This session will give participants an overview of the current risk and liability regime centred on Anti-Money Laundering (AML). Using a mixture of recent, real cases, and scenario analysis, including previously imposed fines, business limitations, licence revocations, and personal punishments, this one-day session will explore the issues pertaining to compliance risks and developing AML typologies.
This session will develop through real scenarios to see not only the wider business implication of poor analysis and control, but also the individual impact which has, and will continue to be, delivered to offending institutions and their employees. Participants will be given time to ask questions to further develop their understanding, and gain a more detailed understanding of the challenges, complexity, and risks involved in compliance and money laundering today.
Key Takeaways from this Course
- Understanding MAS’ current priorities and recent legislative changes in the local and global environment;
- Consider emerging financial crime and conduct risk issues to aid a review of the adequacy of awareness levels and the suitability of existing controls;
- Have the tools to implement enhancements and positive cultural changes in response to lessons learnt from money laundering investigations and prosecutions;
- Understand the risk-based approach advocated by the first international compliance standard, ISO 19600, launched in 2015.
- International Money Laundering Frameworks and Conventions
- A look into the key international bodies, treaties, frameworks and conventions which have been established to combat money laundering and terrorist financing, including an idea of how and why these developed in the way they did.
- Developments & Changes in The Regional and Local Regulatory Environment
- What updates have been made and how do these differ from other regulations and previous n notices?
- How are these changes linked to the changing of the Recommendations from the Financial Action Task Force?
- Combatting Money Laundering
- What is being done in the global marketplace to fight back against criminals who always seem one step ahead?
- An overview of KYC, including the core components which comprise an institutional KYC Framework.
- Emerging AML Trends and Threats
- A look at key trends impacting financial institutions today from an AML perspective, including cyber security, virtual and digital currencies, trade based money laundering, and resource constraints.
- Overview of the Risk-Based Approach
- What is the Risk Based approach in theory and in practice?
- Risks – Reputational, Operational, Legal, Personnel.
- Suspicious Activity and filing of Suspicious Transaction Reports (STR’s)
- Sanctions Law
- What is sanctions law?
- Who imposes sanctions Law?
- UN Security Council Resolutions (UNSCR) and Section 27 of the MAS Act;
- Impact on institutions and nations.
Who Must Attend?
- Personnel who are directly or indirectly involved in identifying, assessing, monitoring and testing money laundering risks including front office/client contact officers, operations officers, business control officers, internal auditors, compliance officers, risk officers;
- This session also welcomes individuals who are interested in performing AML risk management and/or audit.
Sanjeev Gathani is a qualified Governance, Risk and Compliance Professional with more than 20 years of diverse experience in the Asia Pacific Region, helping entities in both public and private entities across a range of industries including not for profit organizations. He has provided his professional service career and advised clients in a variety of industries including but not limited to Manufacturing, Pharmaceuticals, Semi-conductor, Motor, Hospitality, FMCG, Construction and Professional services
Currently, he is the Chief Executive Officer and Knowledge Leader of Better Business Governance – APAC Pte Ltd (BBG), a boutique advisory and training firm. In 2018, he was appointed by RHT Academy as their Programme Advisor – G.R.A.C.E Series.
Additionally, he has also been awarded the credential of Full Member Corporate Governance Practitioner (MGP) by The Association of Corporate Governance Practitioner, United Kingdom. To further enhance his background, he obtained additional credentials including Certified Fraud Examiner, License Private Investigator (Singapore), Expert Court Witness and Certified Privacy Professional..
Specialization: Corporate Governance, Sarbanes Oxley, J-SOX, Internal Audit, Fraud Management, Compliance to Foreign Corrupt Practices Act (FCPA), UK Anti-Bribery Act, Data Privacy and Security and Integrated Risk Management.
- Certified Fraud Examiner (CFE)
- Data Protection Officer (DPO)
- Professional Certificate in Anti-Bribery & Compliance
- Licensed Private Investigator (Singapore)
- Certified Information Privacy Manager (CIPM)
- Cyber Security Practitioner Induction (CSPI)
- Expert Court Witness
- Full Member Governance Practitioner (MGP) UK
- Certified member of Governance Institute of Australia
- Governance, Risk & Compliance Professional (GRCP), United States of America
- Governance, Risk & Compliance Auditor (GRCA), United States of America
- Certified Internal Control Professional (CICP)
- Certified HR Professional (Talent Management)
- Certified Management Accountant (CMA)
- Exin – the global independent certification institute for ICT Professionals – Privacy and Data Protection Foundation
- Customer Service Professional (CSP)
- Advanced Toastmaster – Gold (ATMG)