This masterclass provides a practical introduction to Anti-Money Laundering (AML) compliance and risk management skills.
Of interest to all and essential knowledge for those with specific AML duties, it provides delegates with a comprehensive introduction to modern compliance approaches and AML regulation. It facilitates an understanding of the concept of risk and some of the drivers behind risk taking behaviour. AML systems are typically based on risk-based approaches; however, being able to manage risk more generally also has significant commercial benefits.
At the end of this masterclass delegates will be able to:
discuss compliance in different contexts
discuss socio-economic aspects of regulatory compliance
discuss aspects of enforcement behaviour
discuss the concept of money laundering
recall the principle laws and regulations that apply in the UK
describe safeguards (due diligence, policies and procedures)
discuss the concept of risk
define risks in a number of scenarios
discuss some drivers of risk behaviours
identify practical tools to assess risks
discuss tactical aspects of risk management
discuss risk management approaches
describe some commercial benefits of risk management