Legal drafters, policy makers, financial sector supervisors, and regulators of designated non-financial businesses and professions; financial intelligence unit (FIU) officials; criminal justice officials; other government officials involved in undertaking national money laundering and terrorist financing risk assessments, preparing for their countries’ mutual evaluations and the implementation of anti-money laundering (AML) and combating the financing of terrorism (CFT) laws.
Participants should have a minimum of two-year experience in AML/CFT issues. Attendance is by invitation only. Prerequisites are specified in invitation letters.
This workshop focuses on the measures that bank supervisors should adopt to establish risk-based mechanisms, tools and practices to oversee the effectiveness with which banks manage their money laundering/financing of terrorism (ML/TF) risks. The course aims to enhance participants’ understanding of the requirements of the FATF 40 recommendations generally and more specifically as they relate to the supervision of banks. In particular, the workshop will discuss (i) approaches to assessing ML/TF risk at the national and institutional levels, (ii) the preventive measures that should be adopted by financial institutions; (iii) the development of tools that enable supervisors to assess institutions’ inherent ML/TF risk and the quality of their risk management and (iv) methodologies for determining institutions net ML/TF risk and prioritizing institutions for supervisory oversight. Whilst the discussions will focus upon bank supervision they will apply to most major financial sectors. The course will also discuss the experience of countries that have been assessed under the FATF 2013 Assessment Methodology, with a specific focus on the assessment of Immediate Outcome 3.
Upon completion of this course, participants should be able to:
- Outline, summarize, and analyze the implementation of the FATF 40 Recommendations.
- Develop a medium-term action plan to strengthen their national AML/CFT framework.