Counter-terrorism and the fight against rogue states financing are becoming a top priority for governments, which are combating them across the globe through international sanctions. The methods of their applications vary according to their needs and goals and updates may be daily, making it more and more difficult to stay up-to-date.
As a result, the AML/CTF programmes of financial institutions are imperative to achieving and sustaining governmental strategies in their implementation of international sanctions. Besides this, the local and international regulation is in constant evolution and increasingly demanding. Therefore parties involved shall continuously keep updated their international sanctions procedures and payment screening systems.
As part of this course, PwC's Academy offers to highlight your company's requirements regarding this topic and to address in a comprehensive and practical way the questions participants are confronted with in the light of their professional duties and the progressive evolution of AML and counter-terrorism financing.
Duration: 1h
Language: Available in English, French and German. The supporting material is only available in English.
Number of participants: up to 15
Available under intra-company course (i.e. dedicated session on demand)
Objectives
By the end of this training, participants will be able to:
- identify the impact of international sanctions in their organisation;
- define the needs of control for payments;
- target the gaps in your organisation;
- extend the approach with an in-depth look to Luxembourg;
- explain the relevant methods in preventing breaches in international sanctions regime.
Content
This module covers the following:
- What are international sanctions and what is terrorism financing?
- Definition and understanding of the different sanctions regimes
- How are effective international sanctions controls implemented?
- What are the main obligations in regards to international sanctions and counter-terrorism financing?
Target audience
- Members of the board and the executive board of banks, professionals of the financial sector, an insurance/ reinsurance/captive companies or a management companies of a Luxembourg UCI
- Internal auditors, compliance officers or risk managers
- Distributors or transfer agents of a Luxembourg UCI
- Domiciliary agents
- Persons in charge, or front office team members of a PFS
- Professionals of the (re)insurance sector
- New joiners of financial and non financial institutions
- Person interested in developing specific knowledge
Our lead experts
This training is coordinated by Michael Weis, Partner at PwC Luxembourg. The training will be given by directors and managers who benefit from a strong professional experience in this area.
Michael is lead-partner for the Forensic Services practice and of the AML taskforce.
Michael is regularly acting as engagement leader for a large variety of forensic investigations including AML investigations, remediation and prevention projects in asset management and banking.
In this context he is also responsible for high-profile AML audit missions as part of the legal audit requirements for Luxembourg banks and investment funds.
As key contact of the AML distribution due diligence service for the asset management industry, Michael is regularly involved in country risk assessments and the review of laws and regulations of country AML frameworks.
Michael is coordinating projects with the global PwC forensic network and regularly involved in large scale international projects of PwC for investigations and FTS related work. Michael is part of the Global Forensic Network WG on L&D. as CFE (Certified Fraud Examiner).
Michael is recognised in Luxembourg and abroad as a subject matter expert on AML and forensic matters as a key member of the local industry working groups on fraud at the Institute of Internal Auditors (IIA) and the Institut Luxembourgeois des Administrateurs (ILA) for directors. Michael regularly facilitates workshops and trainings on AML and fraud, both in Luxembourg and internationally, in the asset management and banking sector. Michael is also an active member of the Local Compliance Officer Association (ALCO).
