The MLRO Training Course

The role of the Money Laundering Reporting Officer (MLRO) is essential in ensuring that firms are fully compliant with the latest Anti-Money Laundering (AML) legislation, as well as preventing a firm being used for the laundering of criminal proceeds through real estate. This interactive course provides a comprehensive analysis of the role and responsibilities of a Money Laundering Reporting Officer.

Those attending should presently hold the role of MLRO or Deputy MLRO within their own firm and have previous experience of attending a money laundering course in order to understand the basic issues relating to the topic.

TOPICS COVERED

o The money laundering issue and how it impacts on real estate. This area will look at the regulatory bodies tasked with providing professional guidance and setting the global standards for those persons working within the regulated sector, including the Financial Action Task Force, Joint Money Laundering Steering Group & Transparency International.

o The role and responsibilities of the Money Laundering Reporting Officer (MLRO) within an organization, including the recognition of red flags, evaluation of internal reports of suspicion and ensuring that the firm remains fully compliant with all aspects of the Money Laundering regulations.

o A review of the key aspects of the Money Laundering Regulations 2017 including placing reliance on other regulated entities and the drafting of comprehensive written Policies & Procedures and Risk Assessments.

o An explanation of what is required to compile and submit effective Suspicious Activity Reports (SARs) in accordance with the Proceeds of Crime Act 2002 and subsequent liaison with the National Crime Agency to maximize the effectiveness of the SAR regime in combatting money laundering through real estate.

o Conducting effective Customer Due Diligence and the levels of CDD that are required to be undertaken according to the risk profile of the client when it comes to due diligence. This will include undertaking Enhanced Due Diligence relating to higher risk customers such as PEPs.

o A practical group exercise relating to the CDD aspect in order to identify what is best practice and the procedures that need to followed when implementing a risk-based approach.

o Dealing with more complex structures such as offshore Trusts and overseas companies when it comes to the identification of the Ultimate Beneficial Owner (UBO). This aspect of the course will contain the study of a complex trust structure in order to identify the components of any offshore structure in order to identify the UBO.

o A review of the Bribery Act 2010 and the key offences contained within it, such as the prevention of bribery by corporate bodies and compiling and implementing an effective ABC Policy to ensure that a firm is not in breach of the legislation.

o An explanation of the key offences contained within the Criminal Finances Act 2017 and in particular the use of Account Freezing Orders and Unexplained Wealth Orders that have provided law enforcement with a powerful tool in the fight against money laundering.

o A presentation of Operation Trilby - a complex money laundering investigation undertaken by the City of London Police into two of Europes most wanted criminals. The case involved the laundering of the proceeds of crime across different jurisdictions to purchase high value goods, and an investigation that was impeded by corruption.

LEARNING OBJECTIVES

• Understand the nature of the Money Laundering Reporting Officer (MLRO) roles and `responsibilities.
• Comply with all statutory and regulatory obligations relating to the MLRO role.
• Deal with Suspicious Activity Reports (SARs) and consent requests.
• Assess the adequacy and effectiveness of the firms AML/CTF regime.

ADDITIONAL INFORMATION

Delegates will receive a CPD Certified Certificate upon completion of the course.

Dress code: The Caledonian Club kindly requests that men wear a suit and tie and women smart business attire. No jeans, trainers, t-shirts or shorts are permitted.

Refreshments and sandwiches will be provided.

Terms and Conditions

The person booking is responsible for supplying the correct contact information. Substitute delegates may attend at no additional cost, however please email georgie@financialcrimeservices.com regarding this change at least 24 hours before the event.

Refunds in respect of cancellations can only be made if cancellations are received in writing at least 14 days before the event, and will be subject to a 50% administrative charge. Cancellations received after this period will be charged 100% of the course fee. Please note that non-attendance (without prior notification) is subject to a 100% cancellation fee.

Financial Crime Services reserves the right to alter the venue, the programme and/or the speakers at any time and without prior notice, and also reserves the right to cancel an event, in which case all fees will be refunded.