AML/CFT for Designated Non Financial Businesses and Professions
Foundation1 dayAML/CFT
Programme overview
Purpose built for the non financial sectors that carry AML obligations and often have the least support in meeting them. Strips out banking specific content and works through obligations as they apply to a law firm, an accounting practice, an estate agency, a motor dealer or a dealer in precious metals and stones, with sector specific typologies and worked examples.
Who should attend
Legal practitioners and conveyancers, accountants and auditors, estate agents, trust and company service providers, motor vehicle dealers, dealers in precious metals and stones, casino and gaming operators, and the compliance officers appointed within these businesses.
Sectors
Legal, accounting and audit, real estate, gaming, high value goods dealers, corporate service providers.
Modules
- Why your profession is covered and what triggers the obligation
- Your specific obligations: registration, compliance officer appointment, risk assessment, CDD, record keeping, reporting, training
- Sector typologies: property purchases, trust and company structures, client account misuse, cash purchases of high value goods
- Practical CDD for a small practice: proportionate, documented, and achievable without a compliance department
- Beneficial ownership in the structures your clients actually use
- PEPs and source of funds in a small market
- Legal professional privilege and the reporting obligation: where the line falls
- Recognising and reporting suspicion in a professional services setting
- Record keeping on a practice management system
- Building a proportionate AML programme for a business with fewer than twenty staff
- Supervisory inspection: what will be asked for
Learning outcomes
On completion delegates will be able to:
- State your obligations precisely and identify which apply to your business
- Perform proportionate CDD and document it
- Recognise sector specific red flags
- Understand the boundary between privilege and reporting duty
- Build a compliance file that satisfies an inspection
Tools and templates provided
- DNFBP compliance file index
- Simplified CDD forms
- Sector red flag guides
- AML policy template for small practices
- Inspection readiness checklist
Assessment and certification
Scenario exercises and a compliance file review.
Certificate of Completion.