Anti-Money Laundering and Counter-Terrorist Financing Training UK FCA Firms
Description
The FCA rules require firms to have effective, proportionate and risk-based systems and controls to ensure they cannot be used for financial crime. Firms have the following core obligations:
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Identify and assess the risks of money laundering and terrorist financing to which its business is subject;
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Appropriate systems and controls must reflect the degree of risk associated with the business and its customers;
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Determine appropriate CDD measures on a risk-sensitive basis, depending on the type of customer, business relationship, product or transaction; and
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Take into account situations and products which by their nature can present a higher risk of money laundering or terrorist financing; these specifically include correspondent banking relationships; and business relationships and occasional transactions with PEPs.
The course, which is broken into 5 Parts and is followed by an assessment, contains the following sections:
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Introduction
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Legislative and Regulatory Framework
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Governance
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Beneficial Ownership
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Risk Based Approach
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Customer Due Diligence
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PEPs
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Suspicious Transaction Reporting
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Tipping Off
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FCA Approach:
Sanction Case Study
FCA Thematic Review: “money-laundering risks and vulnerabilities in the capital markets”
Learning Objectives
To assist senior management and staff of FCA regulated firms understand their AML/CFT and Sanctions obligations under key AML / CTF legislation and related guidance issued by the FCA and the Joint Money Laundering Steering Group.
Timing
The duration of this 5 part module is approximately 54 minutes. Each section is followed by a knowledge check and we have allocated 8 minutes to complete these. We have allocated up to 20 minutes for the assessment that follows the completed module.