Introduction 

The requirements stemming from anti-money laundering and counter financing regulations are ever increasing and it is becoming ever more burdensome for businesses, and especially regulated firms to comply. However, under the today’s fast pacing business and technological environment although the cost of compliance might seem high, the cost of non-compliance is even higher. Applying the risk-based approach is the answer to all firms trying to comply with the anti-money laundering and counter financing regulations in the most efficient and non-destructive way. 

This seminar aims to set down the requirements of the anti-money laundering and counter financing framework as laid-down by CySEC, including the CySEC AML Directive and Circulars, in the light of applying these on a risk-based approach. Therefore, it is ideal for all persons interested to know the framework and its applications for firms regulated by CySEC.  

Key Points Covered 

• AML Control Functions and Organizational Requirements 
• Risk Based Approach on client identification and acceptance policy 
• Due Diligence Requirements applied on a Risk Based Approach 
• Ongoing Monitoring 
• Recognition of Suspicious Transactions and Reporting 
• UN and EU Sanctions 
• Training Requirements 

Training objectives 

By the end of the seminar, participants will: 

• Obtain an understanding of the requirements set under the AML Law and the CySEC Directive for the identification and due diligence procedures 
• Understand the procedures required to be established in accordance with the AML Law and Directive 
• Understand how to implement the requirements introduced by CySEC through the circulars, given a firm’s business model 
• Implement the knowledge acquired for the performance of their duties and responsibilities arising from the AML regulatory framework  

The program is ideal for: 

• Board of Directors  
• Compliance Officers  
• Internal Auditors  
• Heads of Back Office 
• Any other senior staff from various departments who are interested in applying the Risk Based Approach and the CySEC’s expectations in relation to AML