Anti Money Laundering (AML) for Funds - Implementation
En collaboration avec
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Sur demande
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8 h
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Cours du jour
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English
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FI035CJ
Objectives
After completing this course, participants will be able to understand:
- The regulatory framework AML and CFT
- responsibilities
- The risk-based approach
- The due diligence process on direct investors, correspondents, third party introducers, etc.
Programme
- Regulatory Framework
- General overview of the AML/CTF legislation in place, i.e laws versus grand ducal regulation versus CSSF circulars and regulations
- Other standards to take into consideration: FATF, Wolfsberg
- The upcoming 4th AML directive in a nutshell
- The 2006 ALFI guidelines versus the 2013 ones
- Anti Money Laundering and Combating Terrorist Financing Responsibilities
- Role, responsibilities and obligations of each actor, (i.e. the management company, the transfer agent, the global distributor and the distributors, the custodian bank)
- What are the links and interactions between the different actors, who relies upon whom, key questions to ask?
- Practical examples
- The Risk Based Approach (RBA)
- Definition of the RBA principles, reference to FATF and Wolfsberg guidance
- Key criteria for an efficient RBA
- What are the benefits?
- The Due Diligence Process
- Definition and application
- A process applicable to the different actors
- Different types of due diligence linked to different type of risks
- Risk assessment and ongoing monitoring
- Direct Investor Due diligence
- Definition and application
- Practical examples
- Correspondent Relationship Due Diligence
- Definition and application
- Practical examples
- Third Party Introducers and Outsourcing
- Questions and answers
Lieu
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Chambre de Commerce Luxembourg7, rue Alcide de Gasperi
L-1615 Luxembourg
Luxembourg - Calculer l'itinéraire