The integrity of Global Financial Systems is facing challenging threat from organized crime groups who operate simultaneously in multiple jurisdictions. These groups exploit the platforms, brand, products and delivery channels integrated in financial system for criminal activities such as Money Laundering and Terrorist Financing. There is a dire need to impart knowledge and prepare experts in this field through proper training, so that financial crimes can be detected and prevented at an early stage. A strong AML/ CFT regime coupled by effective implementation of Policies and procedures not only keep financial and nonfinancial institutions safe from these financial crimes but also prevent the FIs and DNFBPs from regulatory enforcement actions and reputational damage.
After Pakistan's placement on FATF Grey List, more emphasis have been laid by the LEAs on investigations related to AML/ CFT. As a result, the need to train their investigators on ML/ TF related investigations have increased manifolds. The regulators are also more stringent on AML/ CFT regulations and have imposed severe enforcement actions and heavy penalties on AML/ CFT breaches. Moreover, financial and nonfinancial institutions in Pakistan are being held accountable by the regulators, if they fail to educate employees on how Money Laundering and Terrorist Financing can be prevented. Training the employees is declared as a line of defense by the FATF which must be developed by the Reporting entities. This workshop is designed to cover fundamental knowledge about International AML/ CFT concepts, standards, risks and Investigations. It will also create understanding of the risks, methods and Red Flags associated with ML & TF, International AML/ CFT standards, Pakistan Laws and Regulations, STRs and Investigations. Moreover, it will also cover an overview and importance of international sanctions in the financial and nonfinancial institutions. This workshop will be useful for LEAs Investigators and Financial professionals committed to detect and prevent financial crimes.
- Fundamental knowledge about AML / CFT
- Understand and meet International Sanction Regimes and their implications
- Knowledge about Pakistan laws and regulations about AML / CFT
- Knowledge about AML / CFT international standards
- Understand and meet international Sanction Regimes and their implications
- Understand ML/ TF red flags and reporting of STR to FMU
- Investigations, Prosecution & Sanction
| DAY-1 |
DAY-2 |
- Concepts of ML
- ML & Three Stages of ML
- Methods of ML
- Case Studies of ML
- Concepts of TBML
- International Trade Activity
- Concepts of TF
- TF including detecting TF
- Case Studies of TF
- Differences of ML & TF
- NBFIs & DNFBPs
- Non-Bank Financial Institutions
- DNFBPs
- Know Your Customer
- Why KYC?
- KYC Essentials
- KYC Process Overview
- The Four Research Steps
- Assess (to ask, plan and prepare)
- Explore (to investigate, search and interview)
- Organize (to gather, align, collect and clarify)
- Present (to document, persuade and defend)
- Customer Identification Process
- Customer Due Diligence
- Beneficial Owner
- Enhanced Due Diligence
- AML/ CFT Risk
- AML/ CFT Risk Model
- AML/ CFT Risk Scoring
- International AML/ CFT Standards & Bodies
- FATF & FSRBs
- EU Directives on ML
- Egmont Group
- BASEL Committee
- Wolfsberg Group
- OFAC
- Key US Legislative and Regulatory Initiatives
- USA PATRIOT Act
- The reach of US Criminal Money Laundering and Civil Forfeiture Laws
- Pakistan's Laws & Regulations on AML/ CFT
- AML Act
- AML/ CFT Regulations (SBP and SECP)
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- International Sanctions
- Purpose of Sanctions and types of Sanctions
- Who Impose and subject to Sanctions
- Sanction Due Diligence
- Sanction Screening
- Sanction Investigations
- OFAC 50 Percent Rule
- Recent OFAC Sanctions related to Afghanistan and Russia
- ML/ TF Red Flags
- Unusual Customer Behaviour
- Unusual Cash Transactions
- Unusual Trade Transactions
- Unusual Activity of DNFBPs
- Unusual Activity of Potential TF
- STRs
- STR Decision Making Process
- STR Related to ML
- STR Related to TF
- Case Studies
- Transformation of STR into Financial Intelligence
- Investigation & Prosecution
- Transformation of Financial Intelligence into Investigations
- Conducting an Investigations
- Prosecution and Court Trial
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- Banks (preferably Compliance, Audit & Operations)
- LEAs [FIA, NAB, Police (CTD), FBR (Customs & IRS)]
- DNFBPs (Real Estate Sector, Jewelers, Accountants, Lawyers)
- Legal Persons, Trust
| DAY-1 |
DAY-2 |
- Concepts of ML
- Concepts of TBML
- Concepts of TF
- NBFIs & DNFBPs
- Case Studies
- Know Your Customer
- AML/ CFT Risk Model
Post Lunch
- International AML/ CFT Standards & Bodies
- Key US Legislative and Regulatory Initiatives
- Pakistan's Laws & Regulations on AML/ CFT
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- International Sanctions
- ML/ TF Red Flags
- STRs ML/ TF with Case Studies
Post Lunch
- Transformation of STR into Financial Intelligence (Guest Speaker Session)
- Transformation of Financial Intelligence into Investigation & Prosecution
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IBA CEE Cancellation Policy for Open Enrollment Programs:
In the event of participant's cancellation, the following schedule will apply:
- 5 days before start of workshop - No cancellation
- Within 4 to 2 days prior to workshop Half program fee forfeiture
- Within 1 day and No Shows - Full program fee forfeiture
Cancellation notification must be made in writing to CEE.
Postponement
Due to any unavoidable circumstances, the workshop may be postponed by the institute. In case of postponement, the institute will refund full fee of the program or the participant may opt to defer his/her registration to the next program.
Substitute
Substitutes will be taken at least 2 days prior to the workshop. Should we be unable to accept your application for any reason, your payment (cheque/draft) will be returned to you.
Deferrals
All registrations deferrals must be requested in writing at least 2 days prior to the workshop. Send a note to the Program Registration Team indicating that you wish to have your registration deferred to another session of the same program within one year. The deposited fee will be carried forward. Please note that only one transfer is permitted. After one year, the deposited fee will be fully forfeited.
Abdur Rauf Shaikh
Mr. Nasir Mahmood
Ms. Amber Khwaja
