Training can be provided that will explain what money laundering and terrorism financing is and the regulatory requirements that must be complied with. It also includes a practical workshop to help you develop your risk based AML/CFT program.
It will give you the knowledge and skills to identify risks of financial services businesses being unwittingly involved in money laundering and or terrorism/ financing and to prepare or update and AML/CFT program for the purposes of complying with the obligations of the Act.
At the conclusion of the workshop the participants should be able to:
- Explain the purpose of the AML/CFT Act
- Explain the roles of the 3 AML/CFT supervisory bodes in NZ
- Explain legal requirements around AML/CFT activities
- Describe and explain the framework of an effective risk management process; and
- Explain the essential features of an AML/CFT risk management program
- Review the Countries Assessment Guidelines and Designated Business Groups Guideline and understand the obligations therein.