Introduction / benefits
This course is designed to ensure that the knowledge acquired is valuable to manage money laundering efficiently and effectively within your organization. Participants will learn how EDD procedures can be used to minimize risk and maintain effective compliance standards e.g., when onboarding high-risk customers.
The lack of publicly available UBO registry data remains a loophole in the entire AML effort. This course is intended to help participants understand the requirements related to beneficial ownership and control person. It also aims to ensure that participants gain the skills necessary to assess beneficial ownership in relation to companies, trusts and other legal vehicles
- Applicable legislation and regulations (legal requirements/CBA Handbook)
- Who is your client? UBO’s – Controlling person – Intermediaries/Representatives – Front man etc.
- Key terms in the Beneficial Ownership definition
- When is CDD required? – The CDD process
- Know Your Customer – Purpose of relationship – Source of Funds/Source of Wealth – Nature of Business
- What is Enhanced Due Diligence? Know who you are dealing with
- When and how to conduct EDD?
- What type of information should be included in an EDD?
- Understanding ownership and control structure of the customer
- Dealing with non-beneficial owner who holds the shares or interest in that legal person on behalf of another (nominee shareholder)
- How to deal with adverse media (negative news)
- (Ongoing) Customer Due Diligence?
- Trigger moments
- Exit of existing client: How and when?
- Compliance Officer
- Compliance department personnel
- Internal Auditors
- Risk Managers
- Other relevant staff involved with this topic
Duration of the training
The duration of the training is 4 hours.
The investment in this training is NAf 445,- p.p. incl. taxes.
The price includes training sheets & certificate of participation.