Course

Award in Anti Money Laundering regulation

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General information

Date
To be confirmed
Time
17:00–19:00 CET
Venue
Online
Price
€750

Description

Money laundering is the process by which criminals attempt to conceal the true criminal origin and ownership of the proceeds of their criminal activities. As fraud and money laundering become more and more sophisticated, operators in the financial services must ensure that they build more sound and robust internal structures to detect, monitor and prevent money being laundered into their firm.

The full programme is designed to give the participant a complete outlook on the combatting of such fraud.

Objectives

The objectives of this programme are to provide the participant with a thorough understanding of the Anti-Money Laundering requirements in Malta and knowledge of aspects involved in the identification and reporting of suspicious or fraudulent transactions.

This Anti-Money Laundering course will also help attendees to develop their knowledge on financial crime and in carrying out the basic functions required by current regulations.

Learning outcomes

At the end of this seminar participants should be able to:

  • Understand the basic concept underpinning money laundering
  • Carry out various types of assessments related to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) on both business level (BRA) and client-level (CRA)
  • Perform duties around Know your Customer (KYC), due diligence and the general onboarding process for clients
  • Carry out reporting duties related to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements
  • Carry out transaction and client activity monitoring
  • Develop the necessary policies and procedures in relation to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements

This course is particularly suitable to those who aspire to become Money Laundering Reporting Officers or who are earmarked to deputising for such a role.

This programme is intended for practitioners working or wishing to work in industries that are subject to Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements (i.e., are subject persons) for example Financial Services and Gaming industries. This award is designed especially for those who have or wish have to Anti Money Laundering (AML) skills or related duties. This includes employees or practitioners involved directly or indirectly with business transactions involving the use of financial means. It is of particular relevance to Money Laundering Reporting Officers (MLRO) and those who are acting for or deputising or assisting the Money Laundering Reporting Officers MLRO e.g., Risk Officers or Anti Money Laundering (AML) Risk Officers.

Participants preferably need to be in possession of an A Level (Level 3 qualification) or its equivalent or higher; or have 2 or more years of proven experience working in the financial services industry and/or in the field of Anti-Money Laundering.

A certificate will be issued to successful candidates and distributed during the presentation of certificates event held annually.

The Malta Authority for Further & Higher Education Authority deems this certificate to be at MQF Level 4 (4 ECTS) of the Malta Qualifications Framework and the European Qualifications Framework.

The course consists of a total of 12 sessions of 2 hr duration for compulsory unit and 2.5 hours duration for the elective unit. A further of 75 hours of self-study is required.

Towards the end of the programme, candidates will be required to undertake a two (2) hour written exam consisting of 10 compulsory questions covering all topics. Pass mark is set at 55%.

  • More than one (1) re-sit attempt is allowed
  • The re-sit will take place on the same date of the corresponding awards of the subsequent intake
  • Re-sit exam fee is €60

Mr Stefan Lia

Stefan Lia, ACII, BA (Hons), MSc, CRISC is a qualified risk professional with experience working in various industries including Gaming, Insurance and other financial services.

He currently Heads the Governance, Risk and Compliance Function at Betsson Group. His responsibilities in include running the Enterprise Risk Management Process and supporting the AML Business Risk Assessment, coordinating internal audit, managing the group insurance program, designing and implementing risk management and governance processes and acting as advisor to Operational Management on various matters.

Stefan has vast experience working with the Financial Services and Gaming industries. He started his career working with a local insurance Company where he was responsible for Commercial Insurance underwriting. This was followed by a stint at the MFSA where the spend over 4 years as part of the Consumer Complaints Unit.

Prior to joining Betsson in his current role, he was part of the team Risk Advisory at Deloitte Malta. In this role Stefan worked with various local and international clients from Gaming and Insurance on various matters around insurance, AML, Financial Regulation and Compliance.

Stefan holds an Advanced Diploma in Insurance from the Chartered Insurance Institute, a BA Hons in Financial Services from University of Edinburgh Napier and MSc in Risk Management from Galsgow Caledonian University and is Certified in Risk and Information System Controls by ISACA.

 

Mr Ayrton Pulis

Ayrton Pulis, CAMS, BA (Hons) is a certified anti-money laundering specialist and compliance professional with experience working with anti-money laundering, risk management and managing of financial crime risks, in both the financial services industry as well as iGaming.

Forming part of the Governance, Risk and Compliance function at Betsson Group, Ayrton supports and coordinates in various areas tied to internal governance and control, such as the enterprise risk assessment, business continuity planning, AML and other internal rules projects. Ayrton also acts as the coordinator for internal audit between the business and the internal audit partner.

Before joining Betsson, Ayrton was the Risk & Compliance Officer at a well-known Corporate Services Provider and consultancy firm in Malta, responsible for onboarding of clients, carrying out the necessary checks and due diligence, and ensuring effective ongoing monitoring. Furthemore, Ayrton also formed part of the team assisting clients with getting their respective VFA services licence from the MFSA. He was also responsible for communicating, training and explaining policies to staff while ensuring the firm abides with all the ethical and regulatory requirements.

In addition to CAMS, Ayrton holds a Bachelor of Arts (Honors) in Business Enterprise, with the focus of the degree being the theoretical and practical understanding of the core areas of business, with greater attention given to financial reporting, managing of financial resources, and financial services as a whole. Ayrton is currently also sitting for the Advanced CAMS Risk Management Certification, which is an advanced programme that delves deeper in the managing of financial crime risks.

Lectures are split as follows:

  • 10 lectures being part of the compulsory Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) from 1700 – 1900hrs
  • 2 lectures being part of the elective unit Financial Services Industry (FSI) or Gaming Industry from 1700 – 1930hrs

Tuesday 1 March 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 8 March 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 15 March 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 22 March 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 29 March 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 5 April 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 12 April 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Stefan Lia)

Tuesday 19 April 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Ayrton Pulis)

Tuesday 26 April 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Ayrton Pulis)

Tuesday 3 May 2022: Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory Unit (Mr Ayrton Pulis)

Tuesday 10 May 2022: ELECTIVE UNIT Financial Services Industry (FSI) Module or Gaming Industry Module (Mr Stefan Lia/ Mr Ayrton Pulis)

Tuesday 17 May 2022: ELECTIVE UNIT Financial Services Industry (FSI) Module or Gaming Industry Module (Mr Stefan Lia/ Mr Ayrton Pulis)

Thursday 9 June 2022: 0930hrs to 1130hrs Exam

23 June 2022: Dispatch of exam results by post

Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory unit

The module will focus on the general money laundering landscape in Malta including the Anti Money Laundering (AML) landscape, laws and regulation in Malta, responsible authorities and general requirements for subject persons in line with the part 1 implementing procedures including; Suspicious Transaction reporting (STR), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Customer Risk Assessment (CRA), Business Risk Assessment (BRA), Anti Money Laundering (AML) policies and procedures and reporting obligations.

  1. The legal framework around Anti-Money Laundering and Countering the Financing of Terrorism (AML and CFT) in Malta
  2. Local and international obligations on subject persons
  3. Gain knowledge on best practice for implementation and carrying out the requirements on subject persons.

Financial Services Industry (FSI) (Elective Unit)

The module will focus on the Part II implementing procedures for Virtual Financial Assets Agents / Corporate Service Providers (VFA/CPS) Assets providers.

  1. The legal framework around Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Malta applicable to Virtual Financial Assets Agents / Corporate Service Providers (VFA/CPS).
  2. Local and international obligations on subject persons applicable to Virtual Financial Assets Agents / Corporate Service Providers (VFA/CPS).
  3. Gain knowledge on best practice for implementation and carrying out the requirements on subject persons applicable to Virtual Financial Assets Agents / Corporate Service Providers (VFA/CPS).

Gaming Industry (Elective Unit)

The module will focus on the Part II implementing procedures for online and land-based gaming.

  1. The legal framework around Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Malta applicable to online/land-based gaming companies.
  2. Local and international obligations on subject persons applicable to online/land-based gaming companies.
  3. Gain knowledge on best practice for implementation and carrying out the requirements on subject persons applicable to online/land-based gaming companies

Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compulsory unit

  1. Implementing procedures Part 1
  2. Guidance notes: The business Risk Assessment
  3. Supervisory Guidance Paper on Money Laundering and Terrorist Financing Institutional/Business Risk Assessment

Financial Services Industry (FSI) (Elective Unit)

FIAU, 2021 - Implementing procedures Part 1; FIAU, B’Kara, accessible at https://fiaumalta.org/wp-content/uploads/2021/03/20210310_Revised-Implementing-Procedures-1.pdf

Gaming Industry (Elective Unit)

 FIAU AND MGA, 2021 - Implementing procedures Part 2; FIAU, B’Kara, accessible at https://fiaumalta.org/wp-content/uploads/2020/11/FIAU-Implementing-Procedures-Part-II_RemoteGaming.pdf

€750 per participant

The course fee includes:

  • Course material, notes, sample questions, specimen examination papers and/or other educational material
  • Examination and Certification

  • Companies effecting group bookings (four or more participants) are entitled to a 10% discount. For group bookings kindly send an e-mail to info@mitcentre.com
  • A 25% cancellation fee is payable for cancellations received within 15 days of the start of the programme.
  • No refund will be entitled after the commencement date of the programme.