This course can be delivered to your organisation as part of our bespoke Corporate Training Solutions, at your own time and your own convenience. Contact us on [email protected] or call us on +356 2563 6363 or on +356 9963 6363 for more information on how we can take care of your organisation’s training needs.
Course Description:
This training programme focuses on the key AML/CFT concepts, controls and governance arrangements that underpin an effective AML/CFT framework. The programme aims to provide participants with an overview of the risk-based approach, including Business Risk Assessments (“BRA”), Customer Risk Assessments (“CRA”), customer acceptance considerations, and the role of risk assessments in determining the level of customer due diligence and ongoing monitoring measures to be applied.
Participants will also explore the key components of customer due diligence (“CDD”), including customer and beneficial owner identification and verification, the purpose and intended nature of the business relationship, source of wealth (“SoW”) and source of funds (“SoF”) considerations, ongoing monitoring and enhanced due diligence (“EDD”) requirements. The training programme will further examine transaction monitoring concepts, suspicious activity indicators, escalation considerations and common AML/CFT red flags that may warrant further investigation.
The training will also provide general practical insights into typical AML/CFT shortcomings identified through compliance examinations and AML/CFT reviews, including weaknesses relating to risk assessments, customer risk profiling, due diligence processes, transaction monitoring frameworks, governance arrangements, record keeping and supporting documentation. Finally, participants will be introduced to key developments arising from the EU AML Package, including the role of the Anti-Money Laundering Authority (“AMLA”), selected AMLA regulatory instruments and new requirements introduced through the Anti-Money Laundering Regulation (“AMLR”).
Target Audience:
This training programme is specifically designed for members of Internal Audit functions.
Learning Outcomes:
- Understand the AML/CFT framework and related Internal Audit considerations.
- Explain the Risk-Based Approach, including the Business Risk Assessment (BRA) and Customer Risk Assessment (CRA).
- Identify the requirements relating to CDD, EDD, and ongoing monitoring.
- Understand beneficial ownership requirements, as well as Source of Wealth (SoW) and Source of Funds (SoF) considerations.
- Recognise transaction monitoring requirements, suspicious activity reporting obligations, and common AML/CFT red flags.
- Identify common AML/CFT shortcomings and control weaknesses.
- Describe AMLA, AMLR, and key developments arising from the EU AML Package.
Date: On demand
Venue: Kindly contact us on [email protected] to indicate your preferred training method; online or in-person.
CPE Hours: This course qualifies for 4 hours of Structured CPE which can be classified as Core Competency. A certificate of attendance will be provided at the end of the session.
Trainer:
Ma. May Casimiro, Manager, Risk Consulting Advisory Services, KPMG in Malta
May joined KPMG in Malta in 2022 within the firm’s Risk Consulting Advisory practice, having previously spent over five years with KPMG Philippines, where she progressed from Associate to Assistant Manager. Throughout her career, she has specialised in AML/CFT, regulatory compliance and risk advisory services for banks, fiduciaries, fund-related structures, corporate service providers and other financial institutions across the EU, the UK and APAC. Today, May leads and manages engagements focused on AML/CFT framework reviews, CDD/EDD remediation, transaction monitoring, ML/TF risk assessments, regulatory due diligence, licensing support and internal audit. She oversees engagement delivery and multidisciplinary teams, provides risk-based advice to senior stakeholders, and supports clients in strengthening their governance and control frameworks. May is a Certified Public Accountant in the Philippines and a Core AML Trainer for the KPMG Learning Academy Malta, where she develops and delivers specialist training for industry professionals.
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