Course Description and Topics covered

The Course will cover the following topics:

• Know Your Client (KYC) and Customer Due Diligence (CDD)
  • What is Money Laundering.
  • What is KYC and why KYC checks are important.
  • Which risks are mitigated by KYC.
  • What are the consequences of non-compliance with AML and KYC regulations?
  • Client identification documents for different type of clients.
  • Client Identification & Verification.
  • What is Customer Due Diligence (CDD)?
  • Customer Due Diligence requirements.
  • Client due diligence checklist.
  • Why is Customer Due Diligence important?
  • When Should CDD be Conducted?
  • Practical Steps for Risk Assessment and Profiling.
  • Simplified Due Diligence (SDD), Standard Due Diligence (SDD) and Enhanced Due Diligence (EDD).

• Source of Funds (SoF) and Source of Wealth (SoW)
  • What is Source of Funds (SoF)?
  • What is Source of Wealth (SoW)?
  • Difference between source of funds (SoF) and source of wealth (SoW).
  • Categories of SoW.
  • Establishing Source of Funds.
  • When SoW should be established?
  • What SoF information is useful for decision-making?
  • What SoW information is useful for decision-making?
  • Steps to establish source of wealth.
  • The importance of documenting SoF & SoW.
  • Source of Wealth Red Flags.
  • Source of funds Red Flags.

• Customer Acceptance Policy – Client onboarding
  • Key elements of the Customer acceptance Policy (CAP)
  • Importance of a Customer Acceptance Policy
  • Criteria for accepting new customers
  • Client Onboarding Process
  • Identify the risk factors
  • Assessing ML/TF risk
  • Weighting risk factors
  • Categorising business relationships and occasional transactions
  • Customer Risk Assessment Scorecard
  • Risk Appetite – Clients that are not accepted
  • Best Practices for Effective Customer Acceptance Policy

Course Duration

This Course will be presented Online Live on 19 November 2024 at 10:00 – 15:30. The Course duration is 5 hours.

The course is addressed to:

This Course is addressed to all individuals who practice Anti-Money Laundering or interested to learn or enhance their knowledge in Money Laundering such as::

• Compliance/AML Managers and staff in Banks, Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers, Accountants, Auditors and Lawyers.
• Employees of Banks, Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers, Accountants, Auditors and Law Firms who are involved or interested to learn or enhance their knowledge in Money Laundering.
• Executive Directors, Non-executive directors, Senior Managers, Compliance Officers, Risk Managers, Product Managers, Portfolio Managers, Investment Advisors, Dealers, Marketing Managers and in general employees of investment firms, funds, ASPs. Law firms, Accountants, Auditors.
• Internal Auditors
• Consultants
• Lawyers

It is also suitable to professionals pursuing CPD in Anti-Money Laundering for the renewal of CySEC Certificate (CySEC Basic or CySEC Advance Certificate or CySEC AML Certificate) or other relevant certificates in other jurisdictions.

Training Method

Live Online

At the end of the Course, participants take a Quiz. A Certificate of Completion shall be issued and sent to participants after the Course is completed.

Accreditation and CPD Recognition

The Course may be accredited by regulators and other bodies for up to 5 CPD Units, that require CPD training in financial regulation. The Course may be also approved for up to 5 CPD Units by institutions that approve general financial training, such as the CySEC, ICPAC, CBA, CISI, ICA and ACAMS.

Eligibility criteria and CPD Units are verified directly by your association or other bodies in which you hold membership.

Registration and Access

To register to this Course, click “Take this Course” above to pay online and register for this Course. After your registration, you will receive an email with information for the Live Online presentation of the Course.

If you are purchasing this Course on behalf of others, please be advised that you will need to create or use their personal profile before finalizing your payment.

If you wish to receive an invoice instead of paying online, please complete and submit the Registration Form or Contact us by email. Talk to us for our special Corporate Group rates.

Instructor

Experience

George Papanicolaou has more than 20-years experience in the Financial industry. He worked for several years in managerial positions as area Manager, Head of Brokerage, Compliance Officer, Anti Money Laundering Officer, General Manager and Executive Director in Cypriot Investment Firms as well as Managing Director of GP GLOBAL LTD offering consulting services and training courses to Investment Firms, focuses in Internal Audit, compliance & AML issues. He offered numerous courses/seminars both in Cyprus and abroad in Investment Firms Law as well as in Compliance & Anti Money Laundering. George Papanicolaou is also a Chairman of a Nomination Committee in a company listed in the Oslo Stock Exchange.

Education

George Papanicolaou holds a BSc in Electronic Engineering from the University of Texas at Austin (USA), an MBA with specialization in Finance from Leicester University (UK) and a Postgraduate Certificate in the Mechanics of Risk Management from Middlesex University (UK).

He also holds an ICA International Diploma in Anti Money Laundering from the International Compliance Association and the University of Manchester, as well as an Advance and Money Laundering certificate from the Cyprus Securities and Exchange Commission for the provision of investment services/activities.

George Papanicolaou is member of the AML and Compliance Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC), a Fellow of the International Compliance Association (FICA), Mentor of ICA new students, member of the Cyprus Institute of Internal Auditors and the first Network chair for Cyprus of the International Compliance association.

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