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Course Description:

This course, offered by KPMG Learning Academy, will be open to all industries including banks, financial institutions, remote gaming operators, virtual financial assets service providers, company services providers, accountants and auditors. This training session will be targeted towards MLROs (including MLRO designates) and all staff members working within the AML function. The course will provide an overview of the regulatory obligations around this area which emanate from the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”), the FIAU Implementing Procedures Part I and Part II sector specific guidelines. The training session will also focus on the importance of obtaining this information in order to understand the customer and risk profile, and to carry out the appropriate level of due diligence and ongoing monitoring. We will also go through the observations highlighted by the FIAU in the Enforcement Factsheet and other Guidance Notes. Additionally we will be seeing to a number of administrative measures issued by FIAU on this area. Furthermore, we will be providing tips to consider when obtaining information and/or documentation on the purpose and intended nature of the business relationship. The course will be made interactive through a number of polls, practical examples and case studies which will be provided during the training session.

Target Audience:

MLROs (including MLRO designates) and all staff members working within the AML function across all industries including banks, financial institutions, remote gaming operators, virtual financial assets service providers, company services providers, accountants and auditors.

Learning Outcomes:

• An Overview & the Regulatory Framework around this area;
• The importance of obtaining information and/or documentation around the source of wealth and the source of funds including the understanding of the client’s purpose and intended nature, business/employment and the anticipated/expected level and nature of activity;
• The FIAU Enforcement Factsheet, Guidance Note on Source of Wealth and administrative measures imposed on the area of the purpose and intended nature of the business relationship;
• Tips to consider when obtaining information and/or documentation on this specific topic; and,
• Practical Examples and Case Studies.

CPE Hours: This course qualifies for 2 hours of Structured CPE which can be classified as Professional Competency. A certificate of attendance will be provided at the end of each session.

Trainers:

Deborah Cassar, Associate Director, AML, Risk Consulting Advisory Services, KPMG in Malta

Deborah, Associate Director in AML within the Risk Consulting Advisory Services at KPMG Malta, has over 10 years’ experience within the Financial Services sector with foreign and local entities and over 12 years’ experience within the AML/CFT field. Deborah graduated in the Bachelor of Commerce Degree in Banking & Finance and Management from the University of Malta and obtained certifications in Anti‐Money Laundering, Sanction Compliance, Regulatory and Financial Crime Compliance in collaboration with the International Compliance Association (ICA). In 2017, she has obtained an international golden standard specialisation with ACAMS as a recognised and Certified Anti‐Money Laundering Specialist (CAMS) and in 2021, she obtained an Advanced CAMS specialisation in Risk Management (CAMS‐RM). Deborah is an active member with the Association of Certified Anti‐Money Laundering Specialists (ACAMS) and is a Co‐Founder and Co Chair of the ACAMS Malta Chapter.

Deborah has gained knowledge and expertise in Transactions Monitoring, Suspicious Reporting, Analysis and Investigations, AML Advisory, Client Sanctions Screening, Anti‐Bribery & Corruption, Regulatory Compliance, AML/CFT Training, and other areas within Financial Crime Compliance. Before joining KPMG, she worked for over 2 years with the Financial Intelligence Analysis Unit (FIAU) as a Compliance Officer within the Unit’s Compliance Section. She has extensive experience in carrying out Compliance on‐site and off‐site examinations with the different subject persons; reviewed, assessed and evaluated inspection reports and implemented any necessary corrective measures and procedures; represented the FIAU in EU and Moneyval working groups and committees in the domestic and foreign fora; developed sectoral guidance for the financial and non‐financial sectors; and advised and assisted subject persons to establishing appropriate AML/CFT internal structures and controls.

At KPMG, Deborah works extensively in the areas of Anti‐Money Laundering Compliance. She has managed AML projects locally and assisted entities to comply with regulatory obligations specifically on AML/CFT. These projects include assisting with the drafting and/or review of policies and procedures, training, review of processes, GAP analysis, Customer Risk Assessments and Business Risk Assessments. Deborah also participates in delivering AML/CFT presentations in KPMG’s AML Roundtables.

Lara Farrugia Imbroll, Assistant Manager, Advisory – Risk Consulting Advisory Services, KPMG in Malta

Lara is an accountant by profession and holds a Bachelor of Commerce Degree in Accountancy and Management as well as a Masters Degree in Accountancy, from the University of Malta. Lara has been working with KPMG Malta since 2017 where she joined as a summer intern and was assigned to various departments including the Risk Management and Audit departments. In 2019, Lara joined the Risk Consulting Advisory Services department on a full-time basis and currently works as an Assistant Manager with the AML team.

AML is an area where Lara has carried out substantial research as part of her dissertation submitted in partial fulfilment of her Master in Accountancy degree. Her research study focused on the transposition process of the 4th AML directive into the Maltese national laws. The study also covered the impact of the key changes in the 4th and 5th AML directives on selected Maltese investment firms.

She is involved in several types of engagements including assistance to local clients with the drafting and reviewing of AML/CFT policies and procedures, Business Risk Assessments and Customer Risk Assessments, reviewing of client files and GAP analysis, as well as delivering AML/CFT training, thereby ensuring that her clients are compliant with the AML/CFT regulatory requirements. Furthermore, in 2020, Lara also assisted the Regulator with compliance examinations on a number of gaming operators.

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