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