EDD/CDD & complex structures: How to effectively conduct a client screening

Introduction / benefits

This practical course is designed to ensure that the knowledge acquired is valuable to manage money laundering efficiently and effectively within your organization.

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. Different legal structures will be discussed and by making use of cases the participants will actively participate and discuss the challenges and possibilities.

Topics

• Applicable legislation and regulations (legal requirements/
• Who is your client? UBO’s – Controlling person – Intermediaries/Representatives – Front man etc.
• Key terms in the Beneficial Ownership definition
• 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?

Target group

• 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 8 hours.

Costs

The investment in this training is NAf 770,- p.p. incl. taxes.

The price includes lunch, training sheets & certificate of participation.