AML/CTF blended training for boards of directors (investment funds and IFMs)

Money laundering, terrorism financing and proliferation financing pose significant challenges with a substantial societal cost.

Headlines about scandals involving European financial institutions, the war in Ukraine and the support of Russian oligarchs in this conflict have only underscored the gravity of the issue.

The United Nations estimates that between 2 and 5% of the global GDP is laundered annually. Anti-Money Laundering (AML) / Counter Terrorism Financing (CTF) and Counter Proliferation Financing (CPF) are topics of the highest importance for the financial sector, facing an increased risk of being exploited by criminals.

In Luxembourg, it is the responsibility of the board of directors of investment funds and investment fund managers (IFMs) to ensure the compliance of their company or vehicles with applicable rules.

Our blended programme has been designed to meet the needs of this audience. It is divided into two parts: a digital session and a subsequent live session (up to 15 participants) delivered by our most seasoned AML experts. Participants will first complete the digital session via PwC Academy's eLearning platform then join their dedicated live session.

To complement your learning journey, check out our Anti-financial crime curriculum.

The digital solution embeds content entirely created by PwC experts and delivered through AI-powered visuals.

Duration:

Digital session: 75 min
Live session: 30 min

Language: Available in English

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Technical requirements:

A personal computer (recommended), tablet or smartphone
An up-to-date internet browser (Google Chrome recommended)
- Cookies should be enabled
- JavaScript should be enabled
A stable internet connection

Should the internet connection be lost during an e-learning session, the browser will need to be restarted when internet is back to resume the e-learning at the last step recorded by the learning management system before the connection went out.

Objectives

Our blended programme will allow participants:

To walk through important concepts pertaining to AML/CTF given participants' role, in a convenient and agile way.
- We will cover in particular:
  - the legal and regulatory requirements in the area of AML/CTF/CPF;
  - the latest changes in the international, European and Luxembourg legal and regulatory frameworks;
  - the changes and the latest CSSF and FIU circulars, regulations and annual reports;
  - the professional obligations and responsibilities of board members as expected by Luxembourg AML/CTF/CPF regulations;
  - the legislative changes brought by the EU AML Package.
To prepare participants for the live session where we will interact around those important topics and their latest developments.

Content	Implementation	Designed for success	Premium learning experience
Key concepts pertaining to AML/CTF. Legal and regulatory framework in Luxembourg and beyond. Obligations and responsibilities of board members. Final quiz	The digital solution is to be completed prior the live session. A comprehensive reference material can be downloaded to support learning and daily practice.	Developed with the best PwC’s AML experts. Updated with latest AML regulatory requirements. List the latest obligations with regard to the AML requirements.	High quality and engaging videos. Seasoned experts of the PwC AML taskforce being professionals specialised in asset management and alternatives.

This 30 minutes long Q&A live session will be an interactive webinar discussion around:

participants' practical questions further to the digital session;
the Luxembourg market insights;
the practical applications of various points relevant for participants' type of IFMs or investment funds;
the activities of the Luxembourg regulator;
the details of the FATF report on Luxembourg;
the expectations with regards to the forthcoming EU AML package.

Target audience

This blended course is designed for boards of directors of investment funds and investment fund managers.

Our lead experts

This training has been designed by Birgit Goldak, Michael Weis, Cécile Moser and Camille Perez, Partners at PwC Luxembourg.

Birgit Goldak is a partner and Risk Assurance expert at PwC Luxembourg, specialising in Asset Management and the alternative investment funds industry with over 20 years of international experience. She leads PwC’s AML Services, focusing on Alternatives, Asset Management, Distribution, and Counter Party Due Diligence, while also providing Trust and Transparency Solutions and Internal Audit Services. Birgit is a recognised subject matter expert involved in the AML core working group of the Luxembourg Fund Association for Investment Funds and contributes to AML AFLI Guidelines. She actively participates in the EFAMA AML group, advising on EU AML legislation and engaging with Luxembourg regulators. Her client projects include AML governance, risk assessments, audits, forensic investigations, regulatory advice, and ISAE reporting.

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.

Cécile Moser is a partner specialising in Luxembourg’s financial sector, with a focus on Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF) regulations, and Internal Control environments. She has led numerous AML/KYC remediation and regulatory projects, guiding clients through the entire KYC workflow to ensure compliance throughout the customer lifecycle. Cécile coordinates activities across business clusters, developing tailored KYC compliance approaches and advising on legal obligations to onboard and maintain multi-product, multi-jurisdictional clients efficiently. Experienced as a CSSF auditor, she supports regulatory audits, remediation plans, and compliance teams, providing expert advice on risk assessment, transaction monitoring, and regulatory preparation for banks, management companies, and investment funds.

Camille Perez is a partner in the Financial Services Tax department with over 15 years of experience in tax consulting and compliance for banking, asset management, and private equity clients in France and Luxembourg. He is a core member of PwC Luxembourg’s tax transparency expert team, specialising in directives such as DAC1 to 7, AML tax, FATCA, and QI, with expertise developed since 2011. Camille regularly leads tax transparency workshops and advises financial industry clients on EU/US tax compliance. He also co-chairs the ALFI working group on CRS and has managed numerous reporting and audit projects for major financial clients.