DISCLAIMER: THIS TRAINING POWERPOINT EXAMPLE IN

Transcript:DISCLAIMER: THIS TRAINING POWERPOINT EXAMPLE IN:
DISCLAIMER: THIS TRAINING POWERPOINT EXAMPLE IN ITS CURRENT FORMAT WOULD NOT BE SUFFICIENT TRAINING FOR THE MLRO OR TO GIVE TO YOUR EMPLOYEES. THIS IS AN EXAMPLE WITH HINTS AND TIPS ONLY. IT MUST BE ADAPTED AND EXPANDED UPON TO ENSURE IT IS RELEVANT TO YOUR FIRM, ITS EMPLOYEES, CURRENT LEGISLATION, REGULATORY GUIDANCE AND CURRENT TRENDS, THEMES AND RISKS. AML training What is money laundering? Money Laundering Explained…. Money Laundering Explained…. Is the following statement true or false? Money laundering is the concealment of the origins of illegally obtained money. Terrorist financing is providing funds to sponsor or facilitate terrorist activity. Terrorist income often combines ‘clean’ and ‘dirty’ money. 5 True Is the following statement true or false: Money laundering only ever occurs when physical cash derived from criminal activity is given to someone else. True Accountancy sector ML risks Think like a criminal… A client has approached you to use your services to launder £250k. The funds are currently in cash. What advice and assistance would you give to make these funds appear legitimate? Professional Enablers… Predicate Crimes What possible crimes could occur prior to the act of money laundering? Modern slavery Human trafficking Firearms offences Child sexual abuse Organised immigration Terrorism Cyber crime Fraud Bribery corruption Sanctions evasion Tax evasion Drug trafficking Modern Slavery and Human Trafficking Indicators Drug Trafficking The law and regulations Tipping Off Explained What is Tipping Off? The offence is committed by a person who discloses information that is likely to prejudice an actual or a proposed investigation before an SAR has been made, or who discloses information that is likely to prejudice an investigation which might be conducted after an SAR has been made to law enforcement, in circumstances where he or she knows or suspects that there is either an investigation or a proposed investigation, or that a disclosure has been made to law enforcement. Misinterpretation of the law The offence is widely misunderstood. It is often mistakenly assumed that enquiries should not be made of customers during the evaluation process for fear that such enquiries might expose an employee to the risk of tipping off the customer. This is not the case. While employee enquiries must be handled with care, to be in danger of committing a tipping-off offence an employee must either know or suspect that an SAR has been, or is to be, made or must know or suspect