Enhanced AML Training - CLC Regulated Firms

Enhanced AML Training for CLC-regulated firms

Compliance with AML regulations is not going away. This summer saw the CLC release their updated Risk Agenda and it placed a keen eye on the need to ensure that :

The new risk assessment must be considered as part of their Regulation 18 PWRA.
Firms demonstrate a practical recognition and understanding of the risks involved.
Recognising the importance of distinguishing between clients.
Reporting officers are responsible for evaluating their respective risk assessments.
Integrating enhancements aligns with the CLC’s stipulated criteria.

New Exclusive CLC Enhanced AML Training now available

Legal Eye has created a new course, delivered online and for two hours, designed to address core foundations considered as part of a compliance officer’s role and responsibilities with additional hot topics and elements that will then be tailored to suit a firm’s specific requirements.

About the training

The training will be delivered live, interactive and exclusive to your firm. A scoping call will be made to tailor the training accordingly and a recording of the training and presentation slides will also be provided.

The one-and-a-half-hour session will be tailored with your MLRO and includes the following:

Mandatory content:

Roles & Responsibilities in practice – e,g. file reviews, proactive supervision/management, risk assessment
Certification and verification of ID incl. Technology Impact Assessment
Source of Funds & Wealth checks – practical considerations and CLC Checklist and guidance

What will happen in the scoping call?

An initial ‘scoping’ call will be scheduled to agree on key focus areas to build a framework for the training based around the following content to be discussed:

CLC AML Annual Report findings and what they mean for practices
CLC AML Sector Risk Assessment
CLC Risk Agenda – emerging risks and threats
UK Sanctions Regime & OFSI licences – practical considerations
Proliferation financing – what might it mean
UKFIU – SARs reporting – what to consider
Material discrepancy reporting
Chinese underground banking
Breach reporting requirements to AML Supervisor – practical considerations
Dealing with crypto funds – practical considerations
Failure to prevent fraud offence – exemptions and reasonable measures, including potential fining powers to be introduced under the Economic Crime and Corporate Transparency Act
Tax adviser activities

A copy recording of the webinar and presentation slides will be provided to all registered staff members, which can also be issued to those unable to attend allowing you to complete their training at a later date and remain compliant with requirements to ensure all staff receive updated training.

The way that the course has been developed, as a two hour recorded session, is there to help build a culture of learning and diligence, not just for the compliance officer but for a firm as a whole.

To help embed this across a business, following the session held with your firm’s compliance officer(s), a recording and accompanying presentation slides will be provided for wider use at the firm at a later date.