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AML Update: PEPs and Sanctions Risk
A webinar designed to help supervised firms ensure they maintain client due diligence policies and procedures which meet regulatory requirements and best practice, appropriate and proportionate for their size and activities.
The Money Laundering Regulations require regulated firms to take appropriate due diligence steps to establish the source of funds / wealth of new and existing clients and whether clients are Politically Exposed Persons (PEPs) or sanctioned individuals.
Firms need to understand their inherent risks and the effectiveness of controls in place to mitigate associated risks. Appropriately managing PEP risk through an effective risk-based approach tailored to your requirements can greatly lower your risk.
This informative webinar looks at practical approaches that organisations can take to efficiently implement their own risk-based approach for better identification and monitoring of PEPs and sanctions risk.
The focus of the webinar will be:
developing and enhancing your money laundering and terrorist financing risk assessment to meet regulatory expectations.
providing you with an ability to identify gaps or opportunities for improvement in AML policies, procedures, and processes.
ensuring firms are aware of key risks, control gaps and remediation efforts.
establishing source of funds / wealth of current and prospective clients.
assessing whether clients are classified as Politically Exposed Persons (PEPs) and how this alters the business relationship.
firm responsibilities relating to sanctions, including changes resulting from the UK’s exit from the European Union.
This webinar will help supervised firms ensure they maintain client due diligence policies and procedures which meet regulatory requirements and best practice, appropriate and proportionate for their size and activities.
David Potts is director of operations at the AIA and is responsible for maintaining the professional body’s international recognition and regulatory strategies. David works with regulatory bodies across the world to ensure AIA members meet the appropriate standards of competence and professionalism. David is a Professional Member of the International Compliance Association.