AML Obligations in the Accounting and Auditing Sectors

Date: 25th September 2024 17:00 - 19:00 Online

The session will focus on general AML Obligations tougher with sector-specific AML Obligations aimed for Accountants and Auditors.

 

Description

The CPD will focus on the AML Obligations that Accountants and Auditors are obliged to follow. These are derived from the implementing procedures part 1 and the implementing procedures part 2 for accountants and auditors.

Topics

  • Introduction to AML
  • Reference to AML regulations and legislation
  • Identification and verification of customers
  • Dealing with Introducers, Intermediaries and Agents
  • KYC obligations
  • Customer Risk Assessment and the Risk Based Approach
  • Client Acceptance Policy
  • Ongoing Monitoring including Transaction Monitoring obligations
  • Sanction Screening and monitoring obligations
  • Internal and External Reporting obligations
  • Record keeping obligations

Learning Objectives

Accountants and Auditors will obtain general knowledge on their AML Obligations.

 

Target Audience

Accountants and Auditors

 

Assessment Questions and Answers

In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%)

 

Trainers

John Mark Caruana, B.Com (Hons) (Melit.), M.Sc. (Melit.), CIPPE, CIPM

John Caruana is an Anti-Money Laundering (AML) expert with over 15 years of experience in the field. He has a wealth of knowledge in various sectors, including securities, auditing and accounting, and iGaming. As one of the co-founders of Radix Group in Malta, John currently serves as the Compliance Director of Radix Compliance, which is the Group’s AML Consulting arm.

John holds a B.Com (Hons) in Banking & Finance and an M.Sc. in Banking & Finance, both of which were earned at the University of Malta. Additionally, he is a Data Privacy Professional, holding two international certifications in Data Protection from the International Association of Privacy Professionals: the CIPP/E and the CIPM. His expertise in data privacy has been recognised by the Malta Gaming Authority, which has authorised him to serve as a Data Protection Officer.

John’s professional credentials also include Compliance Officer roles authorised by the Malta Financial Services Authority (MFSA) in the CSP and Trust & Trustees sectors. Furthermore, he serves as a Money Laundering Reporting Officer, a testament to his experience and expertise in the AML domain.
In the past decade, John has also lectured on various topics related to securities, Compliance, AML, and GDPR, showcasing his dedication to educating others in the field.

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Why Choose Us

MITC is made up of a close-knit team with a real passion for learning and insurance, who believe in the continuous development and empowerment of individuals through learning. We understand all of the nuances and challenges that come with insurance training and, that is why we’re here to help you get your training right.

Our courses are developed following in-depth research and consultation on the subject matter and the related market, thus ensuring participant needs are met. All our trainers are experts in their field and actively contribute towards the continuous development of the courses which they deliver.

Our training services are accredited by the Malta Further and Higher Education Authority (MFHEA) and the European Qualifications Framework platforms. MITC’s homegrown insurance programmes are recognised by the renowned Chartered Insurance Institute, UK.

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