event description

Comments from past participants

“Excellent seminar!”
– Mr. Joseph Lee, BAT APTSC Pte. Ltd., Singapore.
[Class of July 2006]

“Interesting Presentation by Adam who shared on his experiences, Adam was able to relate and connect with the participants.”
– Mr. Vincent Hong, American International Assurance Company Limited, Singapore.
[Class of July 2006]

“Anti-Money Laundering & Anti-Terrorism Financing is a new area to me. Adam Wong provided me the knowledge and made me understand the topic.”
– Ms. Rungnapa Jangsuppakij, Bank of Thailand, Thailand.
[Class of December 2006]

“As I am new to Compliance area of work, I find that the seminar is informative and useful. It gives me a better understanding of the rules and regulations of MAS, FATR and Confiscation of Benefits Act that we bank have to follow.”
– Ms. Carolyn Wong, BNP Paribas, Singapore.
[Class of December 2006]

“An interesting and beneficial course. I enjoyed myself for this training session.”
– Ms. Liau May May, Bank of Tokyo-Mitsubishi UFJ, Singapore.
[Class of April 2009]

Seminar Background

In our highly competitive environment, there is a need for organizations to handle anti-money
laundering training from a global perspective. The best defense is your staff. Their most potent weapon is Knowledge. Armed with the understanding of how money is laundered, regulatory requirements - "Know Your Customer" and related procedures, they are a potent force in identifying suspicious transactions, ensuring that your organization contributes to stopping the crime rather than unwittingly abetting it.

Seminar Content

* Overview of Money Laundering
- How did the term Money Laundering arise
- What is Money Laundering
- What Constitutes Criminal Activities
- What is the Extent of Money Laundering
- How is Money Laundered

* An Examination of Business that are Prone to Money Laundering

* Recent Enforcement Actions Globally

* Compliance with Regulatory Framework - International Recommendations
- Financial Action Task Force (FATF)
# What is FATF and its Objectives
# Who is part of FATF
# FATF’s forty recommendations on Money Laundering
# FATF’s 9 Special Recommendations on Terrorist Financing
# Non-cooperative Countries or Territories
- Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act
# Objective of the Act
# What constitutes Serious Crimes
# Obligations of various parties
# Personal Liabilities
- MAS 626 – Prevention of Money Laundering
# Basic Principles And Policies To Combat Money Laundering
# Customer Identification
# Record Keeping
# Suspicious Transactions
# Compliance And Training
# Penalties
- Anti-Terrorism Measures Regulations 2002
# What constitutes a Terrorist Act
# What Financial Institutions Must Not Do in Relation to Terrorism Financing

* Seven Deadly Sins of Money Laundering