A TYPICAL COURSE

Typically, professional training would cover the following topics:

What is money laundering and terrorist financing?

How money laundering and terrorist financing is committed

Spotting the early warning signs

An overview of the anti-money laundering and counter terrorist financing legislation

The EC Third Directive and Amending Directive

Part 7 of the Proceeds of Crime Act 2002

The Terrorism Act 2000

The new Money Laundering Regulations

The Law Society’s Guidance on Money Laundering

How to establishing a compliance regime

Risk assessment

Client identification

Beneficial owners

Know Your Client

Source of Funds

Ongoing monitoring

Record keeping

Staff training

Existing clients

Enhanced Due Diligence

Simplified Due Diligence

Reliance on Third Parties

Politically exposed persons

Identifying when a disclosure report has to be made

Suspicious circumstances

Making a disclosure report

The effect of a report on the client relationship

Tipping off

Legal professional privilege

Protection from civil liability

Holding client funds as a constructive trustee

Recent cases in the Courts

Case studies

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