RME Elective: Setting Up a Compliance System

Money laundering and terrorist financing (“ML/TF”) can present significant compliance, reputational and operational risks for corporations and have an economic impact on most businesses. In an effort to combat ML and TF, regulators have implemented enhanced standards. Establishing an effective compliance system in your institution is imperative to ensure compliance and avoid risks. The following course will explain the essentials when setting up a compliance system at your organization.

Detailed Information

  • Definition of Money Laundering & Terrorist Financing
    • The Three Stages of Money Laundering
    • Money Laundering VS Terrorist Financing
  • Current Legislation on Money Laundering & Terrorist Financing in Hong Kong
    • FATF Guidance Notes on AML / CTF
    • International Financial Sanctions
    • Consequences of Non-Compliance
  • AML / CTF & Risk Management
    • The Risk Based Approach on AML / CTF
    • Three Lines of Defence in an AML / CTF System
    • Key Risk Indicators of Money Laundering / Terrorist Financing
    • Key Risk Drivers
    • Key Criteria on Client Risk Profiling
    • Product / Service Vulnerability
  • Preventative Measures in an AML / CTF System
    • Conduct KYC / CDD Procedures
    • Internal Controls
    • Suspicious Transaction Reporting
    • Dealing with International Financial Sanctions, High Risk Clients and Politically Exposed Persons

Registration Conditions

To view our registration conditions click HERE.