Bankers: Money-Laundering, Reporting Obligations and the New Criminal Finances Bill

Duration: 90 Minutes
The Criminal Finances Bill was introduced to the UK House of Commons on 13 October 2016. It will significantly improve the government's ability to: tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing.
The Criminal Finances Bill
Instructor: Shaun Miller
Product ID: 504380
In October 2015, the national risk assessment identified and assessed the money laundering and terrorist financing risks faced by the UK. It focused on 3 priorities: 1. A more robust law enforcement response 2. Reforming the supervisory regime 3. Increasing the UK's international reach

Objectives of the Presentation
  • New powers and safeguards
  • Improve the UK capability to recover the proceeds of crime, including international corruption
  • Transforming the relationship between public and private sectors
  • Enhancing the UK law enforcement response
  • Combating the financing of terrorism
Why Should you Attend
The bill is a key element of one of the most significant changes to our anti-money laundering and terrorist finance regime in over a decade. It is part of a wider package of measures aimed at strengthening the government's response to money laundering and improving the amount of criminal assets confiscated by the state (and, where possible, returned to victims). This includes:
  • Improving the effectiveness of the supervisory regimes for the regulated sector
  • Reforming the Suspicious Activity Report (SARs) regime, including investment in systems and processes to complement the legislation
  • A cross-government action plan on asset recovery
  • Increasing our international reach through events like the Anti-Corruption Summit in May 2016 to build capacity with overseas partners, reflecting the global nature of this issue
Areas Covered
The facets for the Criminal Finances Bill
  • The Criminal Finances Bill
  • Unexplained wealth orders
  • Disclosure orders
  • Power to obtain further information and extend the SARs moratorium period
  • Information sharing
  • Seizure powers
  • Proceeds of Crime Act (POCA) amendments
  • Terrorist financing
  • Corporate failure to prevent tax evasion
Who will Benefit
  • Compliance Officers
  • MLRO
  • Nominated Officer
  • central Risk
  • Senior Advisors
  • Analysts
$300
Recorded Session for one participant
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Instructor Profile:
Shaun has recently presented Risk Based Approach to AML and CFT training in Riyadh Saudi Arabia and Kuwait City. He has also delivered Financial Crime, AML Audit and Blockchain courses in London. He has international experience working in AML Remediation projects, external Audit, Financial Crime projects in Global Banking. He has delivered AML/ CFT training and has implemented Suspicious Activity Reporting procedures in Ireland, UK and Sweden.

Shaun has been a key player in Audit/Sanctions/PEP assessment projects in Tier 1 Banks in New York, UK, Hong Kong and Ireland. Shaun Has an ICA International Diploma in Anti Money Laundering and is a Certified Anti-Money Laundering Specialist CAMS. His areas of specialty include Financial Crime (AML, Sanctions and PEP assessment), AML/BSA/OFAC/sanctions, Transaction monitoring, audit and Financial Crime technological approaches.
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