Anti-Money Laundering & Combating Terrorist Financing Training awareness briefing sessions (3hours) All Financial Institutions staff

Transcription

1 Anti-Money Laundering & Combating Terrorist Financing Training awareness briefing sessions (3hours) All Financial Institutions staff Purpose The aim of the program is to increase the participants awareness of Anti- Money Laundering & Terrorist Financing in the financial industry pursuant to the applicable AML/CFT rules and regulations; and ensure they understand the importance of proper implementation of Customer Due Diligence (CDD) requirements, including Know Your Customer (KYC) documentation as well as efficient client profiling. Objectives Brief introduction on Money Laundering and Terrorist Financing and the risks posed to Financial Institutions International and Economic implications of Money Laundering Know Your Customer (KYC) Measures and Controls Requirements for Enhanced Due Diligence (EDD) AML/CFT Typologies/Case studies Analysis, reporting and management of suspicious activities Course General Outlines: Definition of Money laundering and Terrorist Financing The Money Laundering Cycle and schemes International and National initiatives to combat Money Laundering The FATF Forty + 9 Recommendations Know Your Customer (KYC) requirements Enhanced Customer Due Diligence (EDD) Identification of high risk customers, businesses and transactions Politically Exposed Persons (PEPs) On-going transaction monitoring

2 Procedure to identify and report suspicious transactions Internal and External reporting process Money Laundering Offenses under Bahrain s AML Law The CBB Money Laundering Regulations Money laundering Reporting Officer (MLRO) Potential suspicious activities / Red Flags Case Studies / First AML case in Bahrain Anti-Money Laundering & Combating Terrorist Financing Training session for Financial Institutions (Senior Management briefing one hour) Purpose The aim of the program is to enable the senior management to understand the nature and significance of Money Laundering & Terrorist Financing in the financial industry; as well as stress the importance of management s constant support in enforcing compliance related regulations, in an attempt to combat this global menace pursuant to the applicable AML/CFT rules and regulations. Objectives Brief introduction and background on Money Laundering and Terrorist Financing The various risks posed to Financial Institutions International and Economic implications of Money Laundering The Kingdom of Bahrain s legislation to control Money Laundering & Terrorist Financing AML/CFT Typologies, Major Fines & Penalties and Case studies Analysis, reporting and management of suspicious activities Enforcement measures and consequences of non-compliance

3 Course General Outlines: Definition of Money laundering & Terrorist Financing The Money Laundering Cycle and schemes International and National initiatives to combat Money Laundering The FATF Forty + 9 Recommendations The impact of 11 th September 2001 Events and the USA PATRIOT Act Know Your Customer (KYC) requirements and Enhanced Customer Due Diligence (EDD) Identification of high risk customers, businesses and transactions Politically Exposed Persons (PEPs) Internal and External reporting process Money Laundering Offenses under Bahrain s AML Law The CBB Money Laundering Regulations Money Laundering Reporting Officer (MLRO) Potential suspicious activities / Red Flags Case Studies / First AML case in Bahrain Open discussion Program Providers: Mrs. Bushra Al-Haddad, ICA, CIA, MBA, CAMS Bushra Al-Haddad is currently the Head of Research and Investor Protection at the CBB's Capital Markets Supervision Directorate, where she is involved in launching investor education programs and protecting investors via the establishment of robust disclosure standards and corporate governance regulations. Bushra has spent 8 years of experience specializing in the field of anti-money laundering (AML) and the combating of terrorist financing (CTF). She was the Head of Compliance Examinations at the Central Bank of Bahrain (CBB), where she was responsible for leading and monitoring compliance examinations on the CBB's licensees as well as providing regulatory authorities with assistance in investigating suspicious transactions. On an international level, Bushra is also a qualified assessor for evaluating a country's financial and regulatory system, with the focus on AML/CTF regimes and was a CBB representative in worldwide meetings, such as those held by the Financial Action Task Force (FATF).

4 Mrs Bushra s Qualifications and Memberships ICA - International Compliance Diploma (with Distinction) International Compliance Association U.K. CIA - Certified Internal Auditor MBA Masters in Business Administration (with Disctinction) DePaul University Chicago, USA CAMS - Certified Anti-Money Laundering Specialist Certified AML/CTF Mutual Evaluation Assessor International Monetary Fund (IMF) NASD Series 7 General Securities Representative Certificate USA And /or Mrs. Naeema Taheri, CAMS, CCO, MCP Director, Head of Compliance & MLRO Capinnova Investment Bank Mrs. Naeema Taheri possesses more than 20 years of banking experience both conventional and Islamic. Prior to joining Capinnova Investment Bank, she worked as a Senior Vice President Head of Compliance & MLRO at Al Salam Bank Bahrain; before which she occupied the position of the Compliance Officer & MLRO at Gulf Finance House. She spent a year at the Bahrain Institute of Banking & Finance (BIBF) as a lecturer, responsible for developing and delivering various courses and training programs for several banks and financial institutions inside and outside the Kingdom of Bahrain. Mrs. Taheri started her banking career with Citibank managing various responsibilities over a period of 11 years in Operations, Quality Assurance as well as Compliance.

5 Mrs. Naeema s Professional Qualifications and Memberships: Certificate in Anti-Money Laundering and Compliance (with Distinction) University of Reading and the ICMA Centre Member of the International Who s Who of Professionals U.S.A. MCP (Master Compliance Professional) International Academy of Financial Management U.S.A.) BCP (Certified Basel II Compliance Professional) Basel II Certification Institute Switzerland ICA International Diploma in Compliance (with Distinction) International Compliance Association U.K. Member of ICA U.K. CCO (Certified Compliance Officer) International Academy of Financial Management - U.S.A. FIAFM (Fellow of the International Academy of Financial Management) U.S.A. Professional Certificate in Capital Markets, Regulation and Compliance NASD- U.S.A. and University of Reading U.K. CAMS (Certified Anti-Money Laundering Specialist) Association of Certified Anti-Money Laundering Specialists U.S.A. Member of ACAMS U.S.A.