AML/CTF: key regulatory updates and industry trends incl. EU AML action plan, AML6D
In May 2020, the European Commission (EC) published its new AML/CTF action plan seeking to create common standards, application and supervision of EU rules in a more standardised manner. The AML action plan refers to the enforcement of existing rules, a single rulebook for EU member states, a new EU AML authority, coordination and support mechanism for FIUs, law enforcement and information sharing and a role for the EU at a global level. Its detailed requirements have been published in July 2021. In addition, there are related updates to regulations and industry trends that have occurred since and are expected to be implemented.
To complement your learning journey, check out our Anti-financial crime curriculum.
Duration: 1h
Language: Available in English, French and German. The supporting material is only available in English.
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Course content can be customised on demand under specific conditions.
Objectives
By the end of this training, participants will have a comprehensive overview on recent regulatory updates and trends based on the European directives as well as the EU action plan on AML and its potential implications.
Content
- This training covers the new regulatory updates like EU AML6D, EU Action Plan AML, AMLA, latest AML/CTF circulars, CSSF regulations and legal updates.
- We will also discuss industry trends around asset screening, risk appetite statements and alike.
Target audience
The AML regulations apply to all "obliged entities" as defined in Article 2.1 of the amended law 12 November 2004:
- Credit institutions
- Financial institutions
- Auditors
- External accountants and tax advisors
- otaries and other independent legal professionals (under specific conditions)
- Trusts or company service providers
- Estate agents
- Traders in goods making or receiving payments above EUR 10,000
- Providers of gambling services
Prerequisite: this course is an advanced module designed for people who are already familiar with the AML concepts and regulation.
Our lead experts
This training is coordinated by Cécile Moser and Michael Weis, Partners at PwC Luxembourg.
Cécile, AML Services Partner, is specialised in the financial sector of Luxembourg, with a particular focus on AML and CTF regulations and internal control environments.
She manages and performs regulatory mandated AML and CTF reviews, identifies AML and CTF control issues or deficiencies for private banks, custodians, transfer agents, investment funds and management companies.
Cécile also provides advice on AML and CTF methodology and helps to develop AML/CTF procedures in line with local laws and regulations.
Michael leads PwC’s Forensic Services practice and AML taskforce, overseeing investigations, remediation projects, and high-profile AML audits for banks and investment funds. He is the key contact for AML distribution due diligence in asset management and works closely with PwC’s global forensic network on international projects. As certified fraud examiner, Michael is recognized as an AML and forensic expert and actively contributes to industry working groups on fraud at the Institute of Internal Auditors (IIA) and the Institut Luxembourgeois des Administrateurs (ILA). He regularly conducts workshops and training on AML and fraud in Luxembourg and abroad.
