AML/CFT:The FAtf's risk-based approach (rba) to aml/cft

  • 03/22/2017 - 03/23/2017
  • United Kingdom

Conference Agenda:

INTRODUCTIONBACKGROUND AND CONTEXT

  • What is Financial Inclusion?
  • State of Financial Inclusion
  • The Diversity of the Financially Excluded and

Underserved Groups

  • Challenges of Financial Exclusion
  • What interaction has there been between financial inclusion and AML/CFT policies?
  • Balancing AML/CFT Requirements and Financial Inclusion
  • Overview of the Risk-Based Approach of the FATF
  • The flexibility offered by the international standards in justified low risk scenarios: the exemptions
  • Read and understand the FATF Standards in the light of the financial inclusion

Case-Study 1: G20 PRINCIPLES FOR INNOVATIVE FINANCIAL INCLUSION AND ACTUAL RELEVANCE TO THE FATF

Case-Study 2: EXAMPLES OF COUNTRIES’ ACTIONS TO SUPPORT FINANCIAL INCLUSION

Case-Study 3: ILLUSTRATION OF THE SITUATION OF DIFFERENT COUNTRIES WITH REGARD TO FINANCIAL INCLUSION

Case-Study 4: PRODUCTS AND SERVICES THAT TARGET THE FINANCIALLY EXCLUDED AND UNDERSERVED GROUPS

Case-Study 5: EXAMPLES OF COUNTRIES THAT HAVE DEVELOPED AN AML/CFT RISK ASSESSMENT METHODOLOGY

Case-Study 6: PRESENTATION OF THE RISK ASSESSMENT TEMPLATE IN THE STRATEGIC IMPLEMENTATION PLANNING (SIP) FRAMEWORK

Case-Study 7: EXAMPLE OF A RISK METHODOLOGY DEVELOPED BY THE INDUSTRY

Case-Study 8: INITIATIVES TO ADDRESS THE CUSTOMER IDENTIFICATION/IDENTITY VERIFICATION CHALLENGES

Case-Study 9: COUNTRIES’ EXAMPLES OF DOMESTIC COOPERATION TO PROMOTE FINANCIAL INCLUSION

THE FATF’S RISK-BASED APPROACH (RBA) TO AML/CFT

  • WHAT IS THE RBA?
  • THE RATIONALE FOR A NEW APPROACH
  • APPLICATION OF THE RISK-BASED APPROACH
  • CHALLENGES

GUIDANCE FOR SUPERVISORS

  • THE RISK-BASED APPROACH TO SUPERVISION
  • SUPERVISION OF THE RISK-BASED APPROACH

GUIDANCE FOR BANKS

  • RISK ASSESSMENT
  • RISK MITIGATION
  • INTERNAL CONTROLS, GOVERNANCE AND MONITORING

Case-Study 10 – EXAMPLES OF COUNTRIES’ SUPERVISORY PRACTICES FOR THE IMPLEMENTATION OF THE RISK-BASED APPROACH TO THE BANKING SECTOR

Case-Study 11– BASEL II & III CORE PRINCIPLES DESIGNATED BY THE FATF AS BEING RELEVANT TO AML/CFT SUPERVISION
AML AND CFT OBJECTIVES

POLICY, INSTRUCTIONS, GUIDELINES AND ROUTINES

  • GROUP LEVEL POLICY
  • INSTRUCTIONS ISSUED BY LOCAL COUNTRY/BUSINESS UNITS

GOVERNANCE AND RESOURCES

  • ROLES AND RESPONSIBILITIES
  • SPECIALIZED RESPONSIBILITIES
  • RESOURCES

INTERNAL CONTROLS

  • AML RISK ASSESSMENTS
  • FINANCIAL ANTI-CRIME PLATFORM (FACP)

The FACP Application Strategy

RECORD KEEPING | REPORTING

  • QUARTERLY REPORTS
  • SEMI-ANNUAL COMPLIANCE REPORT TO THE CEO AND THE BOARDS
  • SAR REPORTING

TRAINING

  • SENIOR MANAGEMENT
  • MANAGERS AND EMPLOYEES
  • COMPLIANCE MONITORING

TESTING & END OF THE SEMINAR
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