PDF-CallMLMoney Laundering Prevention and regulatory compliance

Comply with antimoney laundering regulations Detect and prevent fraud Reduce operational costs CallMLCallMLwwwcallcreditcoukfraudwwwcallcreditcoukfraud CallMLVerify the identity of your n. COMPLIANCE STANDARDS FOR ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING . OF . TERRORISM. Presented by . ERM Institute. Saturday ,February 14, 2015. 1. Part II: Compliance Standards for AML/CFT. COURSE OBJECTIVES. Laundering / Combating the Financing of . Terrorism. Compliance Unit. Ministry of National Security . Objectives of the . AML/CFT. Compliance Unit. . of the Ministry of National Security.. Receiving. Latin America . Ben Tonner. Attorney. www.samsonandmcgrath.com. 1. OUTLINE. (Anti) Money Laundering. The Financial Action Task Force. AML, Trusts and Estates . AML and Latin America. Changes: the FATF 40 Recommendations. Quality of Intelligence and Investigation. Ian . D. avidson. The Problem. “. Systematic quantitative or qualitative data that would provide defensible bases for assessments and recommendations are not now available for most countries, nor likely to be available in the foreseeable . . displays. Lack . of Technical Solutions to Bridge . Gap / Recommendations. 1. Impact CEC’s Regulatory Language. : . Displays. CEC’s second draft display regulatory proposal more stringent / problematic than first draft . “Fight against organised crime and corruption: strengthening the prosecutors’ network”. March4th-7. th. . 2014, Skopje, Macedonia . Mona . Konecny. , Public Prosecution Office, Vienna, Austria. intramammary infection in late lactation dairy cows. Collaborators. : Sandra Godden. 1. , Erin Royster. 1. , Jenny . Timmerman. 1. ,. . and Matt Boyle. 2. . 1. University of Minnesota, . 2. Zoetis. THE FATF RECOMMENDATIONS. Presented by . ERM Institute. 1. A. AML/CFT POLICIES AND COORDINATION. . 2. THE FATF RECOMMENDATIONS. Assessing risks and applying a risk-based approach *. Countries should identify, assess, and understand the money laundering and terrorist financing risks for the country, and should take action, including designating an authority or mechanism to coordinate actions to assess risks, and apply resources, aimed at ensuring the risks are mitigated effectively. Based on that assessment, countries should apply a risk-based approach (RBA) to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate with the risks identified. This approach should be an. 46 Volume 4 • Issue 1 regulated businesses Money laundering – concealing the origins of illegally ob - tained funds – is not new. But the focus on money laundering by governments, . non-compliant. Anti-money laundering . and sanctions compliance is not an option; it is a regulatory requirement. Failure to accurately detect and report . potential money . laundering, terrorist financing, or the violation of economic sanctions can lead to criminal and civil liabilities. . . Enforcement Directorate. Ahmedabad. , 21. st. Feb 2015. Money Laundering…... . Process by which illegal funds and assets are converted into legitimate funds and assets.. The Need for Money Laundering Act . 2. Introduction. 3. Objectives . What is Money Laundering & Sanctions?. Understand what are the PMLA regulatory obligations. Understand the Key Components of AML and Sanctions compliance program. Madhab. . Paudel. ,. Kathmandu. UN Convention Against Corruption. UN Convention Against Corruption . (. UNCAC. ) . is the most . comprehensive global level . anti-corruption convention, . . UNCAC. . Trade-Based . Money Laundering . Generates corruption and crime. Loss . of tax . revenue (evasion of . the customary . fees and . taxes paid by law-abiding . importers, e.g. bank fees, sales taxes, importation taxes).