AML/CTF Master Class

Start Date: 22/04/2015

Duration: 1 day

Location: Hilton Hotel, Charlemont Place, Dublin 2

Full Fee: €500

Network Members Fee: €400

Programme overview

The Network is delighted to partner with the Association of Compliance Officers in Ireland (ACOI) and the Irish Institute of Credit Management, to provide an Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) training course to fulfill regulatory obligations in a manner that best suits your needs.

With the enactment of the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010, as amended, many service providers, including your organisations were brought within the scope of the Irish AML/CTF regime. This regime imposes a range of legal obligations from identifying customers, monitoring transactions and reporting suspicious transactions to An Garda Síochána and the Revenue Commissioners to having appropriate risk-based policies, procedures and controls in place to detect and prevent money laundering and terrorist financing.

The Anti-Money Laundering Compliance Unit (AMLCU) was established within the Department of Justice and Equality to be the Competent Authority for certain designated persons, Trust or Company Service Providers, Private Members’ Gaming Clubs, Auditors, External Accountants, Tax Advisers and for businesses that accept cash payment of €15,000 or more, namely your organisations.

Learning outcomes

This specialist master class aims to provide participants with the essential knowledge and skills to support them in meeting their regulatory obligations. The programme design aims to be informative, interactive and pragmatic. Indicative content is as follows;

  • a description of the legal framework and penalties associated with breaches of the relevant rules and regulations;
  • planning and carrying out an AML/CTF risk assessment in order to design and develop your AML/CTF programme;
  • establishing appropriate governance of AML/CTF within your organisation and formulating an AML / CTF policy;
  • assessing appropriate customer due diligence (CDD) standards and on-going monitoring controls relative to the risk profile of your business and your customers;
  • designing and implementing systems and controls to ensure adequate record-keeping, monitoring and training are in place;
  • identifying, evaluating and reporting suspicious transactions – what looks suspicious, how to report and to whom?
  • Looking into the near future and the changes your organisation may face in 2016 and beyond.
  • ACOI is confident that all participants will benefit greatly from attending the master class, engaging with the facilitators, your peers and on-line webinar content thereafter.

Who is the course for

Schedule

8.30 – 9.00am Registration and light breakfast

9.00 – 10.30am Money Laundering / Terrorist Financing Regulations (Finbarr Murphy)

Morning Break

10.45 – 12.15pm The cornerstones of compliance (Shane Martin)

Lunch

1.15 – 2.15pm Risk assessment and customer due diligence (Shane Martin)

2.15 – 3.00pm Suspicious Transactions – What they look like, how to report them

(Justin Delaney – Revenue Commissioners)

Break

3.15 – 4.15pm Transaction monitoring, International Financial Sanctions and case studies

Trainers Bio Note

SHANE MARTIN

Shane Martin is based in Walkers’ Ireland office where he leads the Regulatory Compliance practice.

He has significant experience in regulatory risk and compliance in financial services across the banking, insurance, asset management, credit union and payment services sectors. Prior to joining Walkers, Shane worked for a number of years for the Central Bank of Ireland where he managed the specialist anti-money laundering supervision team. During his time in the Central Bank, he played a key role in developing antimoney laundering strategy and policy as well as participating in a number of related enforcement cases. Shane previously worked as an adviser with the Irish Banking Federation where he represented the banking sector’s interests on a wide range of legal and compliance matters.

FINBARR MURPHY, BL

Finbarr Murphy is a Barrister at Law. He previously was Group Legal Adviser for Bank of Ireland and a college lecturer for University College Dublin.

Finbarr is published widely and has recently contributed to Thompson Reuters 2015 publication, Financial Services Law in Ireland.

Assessment

After the master class and viewing the on-line webinar assessment will be a combination of taking an on-line examination and the drafting / refinement of your organisation’s AML Policy document  applying a risk-based approach. The pass mark for the on-line exam is 80%.

A joint Certificate will be issued by the ACOI and IICM upon meeting these two criteria.