AML 100.A – Guidance Notes Part 1
About the Course
This course provides an overview of the Cayman Islands AML regime and introduces the key aspects of Part 1 of the Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands.
The course allows one to understand the purpose of the Guidance Notes within the wider regulatory framework in the Cayman Islands.
The Compliance Programme, Risk Based Approach and different types of Customer Due Diligence are discussed as well as Politically Exposed Persons, Record-keeping, AML Officers, Internal Controls, Sanctions Compliance and Ongoing Monitoring.
What’s on the agenda?
| Description |
|---|
| Overview, definitions and risk of:
o Money Laundering, Countering Terrorist Financing, Targeted Financial Sanctions, Proliferation Financing |
| Regulatory Framework |
| A review of the layout of the Guidance Notes |
| Compliance Programme, Systems and Training Obligations |
| Assessing Risk and Applying a Risk Based Approach |
| Customer Due Diligence |
| Simplified Due Diligence Measures |
| Enhanced CDD Measures (EDD) |
| Politically Exposed Persons (PEPs) |
| Record-keeping procedures |
| Money Laundering Reporting Officer |
| Other Internal Controls (relating to Audit Function, Outsourcing, Employee Screening and Training) |
| Identification and Record-Keeping Requirements relating to Wire Transfers |
| Correspondent Banks |
| Sanctions Compliance |
| Proliferation Financing/Targeted Financial Sanctions |
| Ongoing Monitoring |
