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Fight against money laundering and the impacts of the 5th directive (English session)

500 €

Arendt Follow

• Webinar
• Anti-money laundering

Goals :

This training aims to explain the rules against money laundering and the financing of terrorism ("AML-CTF") and the professional obligations currently applicable to Luxembourg financial institutions and will focus on their practical implications. The training will in particular highlight the main changes and practical impacts of the implementation of the 5th AML Directive in the Luxembourg law by the law of March 25, 2020 amending the law of November 12, 2004 on the fight against money laundering and the financing of terrorism. The objective of the training is also to be very practical and therefore to also focus on the administrative practice of the CSSF and on a number of practical examples.

Contents:

- Definitions and illustrations of key concepts
- Risk-based approach and risk factors
- Know your customer '(KYC) obligations: practical focus on the definition of beneficial owner (also in accordance with
recent CSSF circular 19/732 and recent developments in CSSF regulation 12/02), customer due diligence measures
- Internal organizational requirements for financial institutions
- Practical approaches to the obligation to cooperate with the competent authorities (e. Filing of a suspicious transaction report, practical case studies, no tip obligations, treatment of freezing orders, examples of recent case law, etc. )
- Evolution of good and bad practices of the LAM on the basis of the latest activity reports of the Financial Intelligence Unit, the annual report of the CSSF, the administrative practice of the CSSF and precedents of case law