Webinar: AML Due Diligence

Topics:

• The new EU rulebook
• The new AML regulation
• The New AML authority
• The new AML Directive (6th Directive)
• Understanding the regulatory changes that shall be brought about and how Subject Persons may start preparing for such changes

Session 1 – 7th November 14.00-16.00

"CDD in Practice: Identification and Verification Procedures" will cover key aspects of Customer Due Diligence (CDD) focusing on practical identification and verification processes.

Topics include:

• Understanding Identification: The process of collecting relevant data to establish the identity of customers and other involved parties, such as beneficial owners. For individuals, this typically involves government-issued documents (e.g., passports), while for entities, the focus is on legal structure and ownership
• Verification Methods: Ensuring the accuracy of collected information by validating it against reliable sources. This applies to both individuals (using documents like ID cards) and legal entities (through company registries and legal documentation)
• Risk-Based Approaches: A deep dive into applying different levels of due diligence depending on the customer’s risk profile. This includes Enhanced Due Diligence (EDD) for high-risk customers and Simplified Due Diligence (SDD) for low-risk scenarios
• Red Flags and Risk Management: Identifying when additional scrutiny is needed, such as dealing with politically exposed persons (PEPs) or transactions from high-risk areas. Practical case studies and examples will help illustrate these points
• Ongoing Monitoring: The importance of continuous due diligence to detect suspicious activities over time, ensuring compliance with AML regulations

This webinar is designed to help professionals understand when and how to conduct CDD effectively and how to stay compliant with AML standards

Session 2 - 20th November 09.00-11.00

"Dealing with Non-Reputable & High-Risk Jurisdictions" will focus on the practical application of Enhanced Due Diligence (EDD) for subjects engaging with clients or transactions involving high-risk and non-reputable jurisdictions.

Key topics include:

• Distinguishing between high-risk and non-reputable jurisdictions and understanding why these terms are often conflated in AML (Anti-Money Laundering) contexts
• Using a risk-based approach to analyse the complexity, size, and nature of transactions from high-risk jurisdictions
• Enhanced scrutiny of customer identity, source of wealth, and transactional behaviors in such cases
• Regulatory guidelines on EDD for high-risk jurisdictions as outlined by global and local bodies, like the FATF and European Union

This session is designed to equip professionals with tools to apply EDD effectively, helping mitigate the risks of financial crime

Qualifies for 4 CPE CORE hours under the core competency area.

Course Fee

The course fee is €125 for Non-Members and €110 for Members. Individual sessions can be booked at €65 per session. The fee covers seminar participation and access to event resources. Login details will be provided closer to the date.

Event Resources

Participants will receive the event resources by email.

About the Speaker: Elizabeth Sammut Borg

Dr. Elizabeth Sammut Borg, a seasoned lawyer and compliance specialist, currently holds the position of Money Laundering Reporting Officer (MLRO) for both CSP and Retirement Pension Scheme companies. Previously, Elizabeth headed the the compliance and legal division as Director of Legal and Compliance at Dixcart Management Malta Limited, serving also as MLRO and Compliance Officer on companies licensed to offer CSP and trustee services. As a dedicated compliance specialist, Elizabeth focuses on navigating the intricate landscape of anti-money laundering and counter-financing of terrorism regulations as well as specialising in regulatory compliance for CSPs and trustees. Her extensive experience extends to serving as MLRO for CSPs, Trustees, and Fiduciaries, as well as retirement pension scheme companies. Beyond her role, Elizabeth provides AML training and guidance contributing to the development and enhancement of compliance standards within the industry. Dr Borg graduated as a lawyer in 2010, subsequently reading Master’s Degree in International Criminal Law, with the United Nations Interregional Crime Institute in Turin. Before joining Dixcart, Elizabeth served as an employment law prosecutor and also worked at the Court of the European Union in Luxembourg, as a legal jurist in the research and documentation department.

Skillsmalta is an established organisation with the sole purpose of specialising in developing education and training development programmes for professionals. Recently, Skillsmalta expanded its horizon to offer comprehensive AML compliance support, Employment Law consultancy and assistance with Residency permit applications. Skillsmalta can now boost a team of top professional lecturers that can offer sterling services to all prospective clients.

Fully aware that education and training are the keys to making one’s business more successful, Skillsmalta designs tailor-made courses that meet the various needs of professionals based on the philosophy that the focus should lie on the solution rather than the problem. Thus, all training sessions organised by Skillsmalta will be a hands-on practical experience that will take participants through an interactive journey with ease through interesting case work-outs yet without sacrificing the necessary theoretical backgrounds. Ample time is also given to audience interaction and participation.