Course Overview:
Financial services firms face significant risks if they fail to address anti–money laundering (AML) issues effectively. Non–compliance can lead to severe regulatory penalties and fines, and long–lasting reputational damage. Staff with the knowledge and skills to mitigate risks, will ensure regulatory compliance and safeguard their organisation’s operational integrity and reputation.
This interactive training course explores the key financial crime issues affecting firms in the finance and leasing field. Specifically: economic sanctions, terrorist financing, and preparing Suspicious Activity Reports (SARs).
Using case studies drawn from real-world scenarios from the motor, consumer and asset finance industries, you will learn to apply AML principles to detect and prevent financial crime, identify suspicious activity, and safeguard your organisation against a diverse range of potential risks.
The Financial Crime Landscape
Defining financial crime, money laundering, and terrorist financing in the context of modern finance.
Understanding the types of sanctions, their purpose, and the critical importance of effective screening.
A breakdown of UK AML regulations and the corporate offence of “failure to prevent economic crime”.
Offences & Reporting
Identifying the key legal risks for regulated firms, including the failure to report money laundering.
The mechanics of submitting a Suspicious Activity Report (SAR) and requesting a Defence Against Money Laundering (DAML).
Understanding the strict prohibitions against tipping off and the consequences of prosecution.
Operational Compliance
Conducting robust risk assessments to identify and mitigate vulnerabilities within your business.
Navigating key compliance issues such as due diligence and ongoing monitoring.
Applying your knowledge to a practical case study to test your understanding of AML principles.
By attending this session delegates will:
- Define the UK Anti Money Laundering (AML) regime and its key components, including relevant legislation and regulatory requirements.
- Identify the various forms of terrorist financing and understand their implications for financial services firms.
- Explain the process of Suspicious Activity Reports (SARs) and understand the significance of timely and accurate reporting.
- Apply knowledge of AML regulations and terrorist financing risks to real-world scenarios.
- Recognise and assess potential AML risks and apply appropriate mitigation strategies.
- Sales, underwriting, and customer service teams who act as the first line of defence against financial crime.
- Compliance professionals responsible for implementing AML policies and managing SAR submissions.
- New or aspiring Money Laundering Reporting Officers (MLROs) needing a refresher on their statutory obligations.
- Risk managers tasked with screening, due diligence, and monitoring sanctions risks within the organisation.
Steve Smith
Steve is partner at Eversheds Financial Services Disputes & Investigations Team.
His unique experience and approach has enabled him to become one of only a very small number of genuine “go to” lawyers for MLROs and banks.
Steve draws on his 20 years’ experience as a defence lawyer, former senior prosecutor for the Financial Conduct Authority and his experience working as Head of Financial Crime Advisory for Barclays Wealth & Investments and Deputy MLRO for Nomura International to advise on a broad range of financial crime related issues including financial crime compliance, with a particular emphasis on AML systems and controls.
Steve is recognised as a leading expert in financial crime and a trusted advisor to a wide range of financial institutions and corporates. His depth of experience means that he is regularly appointed as a Skilled Person by the UK FCA to investigate and report on the adequacy of financial crime systems and controls at regulated firms with a particular focus on anti-money laundering and counter terrorist financing.
Bespoke In-house Training
If you would like to run this course for your own organisation, the FLA can deliver Anti-Money Laundering as a tailored in-house workshop for your team. Whether you want to build core knowledge in a specific department or support a wider training programme, the content can be shaped around your objectives and internal policies.
To make an enquiry, simply complete the in-house training form on the FLA website and the training team will contact you to discuss options and next steps.
