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Afcana Group FS Inc. Effective Compliance Training program Saturday, May 15, 2010. 06:00 PM Est. Toronto, Ontario. Canada. MR. ABDIRIZAK OMAR-GODANE, AFCANA GROUP FS INC. MR. ABDI JAMA, AMAL TRANSFERS. Speakers. Sponsored by: AMAL TRANSFERS.
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Afcana Group FS Inc. Effective Compliance Training programSaturday, May 15, 2010. 06:00 PM Est. Toronto, Ontario. Canada MR. ABDIRIZAK OMAR-GODANE, AFCANA GROUP FS INC. MR. ABDI JAMA, AMAL TRANSFERS Speakers Sponsored by: AMAL TRANSFERS AFCANA GROUP FINANCIAL SERVICES INC; Compliance & Regulatory research services, Toronto, Ontario. Canada
INTRODUCTION TO CANADIAN MONEY LAUDNDRING AND TERRORIST FINANCIING ACT http://www.oecd.org/fatf.
Canada’s Legislation to Combat Money Laundering and Terrorist Financing
The objective of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
MSB REQUIRED GUIDELINES: AML/ATF COMPLIANCE ELEMENTS AML Policy&Procedures
Source of illegal activities Drug Trafficking Kidnapping Bribery / Corruption Gambling Counterfeiting and Forgery Robbery and Fraud Tax Evasion Serious Crime or All Crimes? White Collar Crimes (including Insider Trading and Securities offences) Prostitution Organised Crime Smuggling (arms, people, goods) Extortion
Current global challenges to money laundering and terrorist financing • Direction to a practical approach.
MSB should ensure that those functions are performing as they are intended.
risk based risk based Client acceptance & Life Cycle risk review pre-screening Exit? periodic RelationshipManagement Prospect client profiling (KYC) client profiling (KYC) Global AML Policy Global Standards Global Process& Procedures identification New: Products, Industry, Geographies, DeliveryChannels event drivenrisk reassessment Client take-on filtering Transactions / daily business verification post-eventmonitoring pre-eventfiltering client filtering