Course details

Dates are currently being finalised. Get in touch to find out more
Download course brochure

Euromoney Learning On-Demand

Powered by Finance Unlocked

Learn about every aspect of finance, delivered through one-off videos and in-depth pathways

Learn More

VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting learning@euromoney.com

 

Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund




Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Anti-Money Laundering and Counter-Terrorism Financing

  • BACKGROUND

    Financial Institutions play a major role in any economy and the key to any soundly run economy is to ensure having legitimate financial activities/transactions.

    Money laundering (ML) and Terrorism Financing (TF) are very serious crimes and criminals have been relentlessly in search of ways to disguise the nature of their money and incorporate such money into the normal flow of legitimate economies to enjoy the benefits of their crimes.

    It is therefore of utmost importance for financial institutions staff to be aware of and alert to ML & FT activities and be able to identify, analyse and report suspicious transactions as part of the effort to deter such criminal activities.

     

    COURSE OBJECTIVES

    Over the duration of this course, participants will:

    • Be introduced to the key characteristics of Anti-Money Laundering, Countering the Financing of Terrorism and Sanctions adherence.
    • Extend their understanding of the principles of Compliance Risk.
    • Gain an insight into current trends and issues in financial crime, using practical examples, and the risks of non-compliance.
    • Be more informed, and therefore better equipped, to understand their role and responsibilities, to make considered risk decisions more quickly, based on a sound knowledge of financial crime risk management
    • Be better placed to protect their Institution’s clients from financial crime risks, thereby helping them to achieve sustainable growth
    • Have key skills to protect the financial institution from individuals and organisations seeking to commit financial crime through the recognition / identification of red flags and understanding how to respond appropriately

     

    WHO SHOULD ATTEND

    • Financial Institutions Staff in client-facing & operations related functions
    • Financial Institutions staff in Risk related functions
    • Financial Institutions staff in Compliance & AML related functions

     

    COURSE DELIVERY

    A blend of power point slides, practical group case discussions and illustrative videos

     

    COURSE PRE-REQUISITES

    Basic understanding of Financial Institutions-related services

     

     

     

     

     

     

  • Day 1:

    Introduction to Money Laundering & Terrorism Financing

    • What is Money Laundering?
    • Who Uses Money Laundering?
    • The History of Money Laundering
    • Why is Money Being Laundered?
    • What is the Potential Size of Money Laundering?
    • Adverse Consequences of Money Laundering
    • Historical cases of Money Laundering and Terrorism Financing
      • Origins of ML – US Organized Crimes
      • Organized Crime in Colombia - the Medellín cartel
    • What is Terrorism Financing?
    • Differences between ML & TF
    • Historical Cases of TF
      • Irish Republican Army
      • Al Qaida
      • TF via Hawala
    • Group Case: The Watergate Scandal

    Mechanics of Money Laundering

    • Stages of Money Laundering
    • Possible Mediums of Money Laundering
    • Common Money Laundering Techniques
      • Smurfing/Structuring
      • Cashing Up
      • Captive Business
      • Hawala
      • Digital Currencies
    • Group Case: Money Laundering via the Insurance Industry

    Control Frameworks

    • Financial Action Task Force
      • Definition and Scope
      • Recommendations and Publications
    • Egmont Group of Financial Intelligence Units
      • Definition and Scop
      • Objectives and Mechanics
    • US Laws & Regulations
      • Bank Secrecy Act 1971
      • USA Patriot Act, 2001
      • Anti-money laundering Act, 2020
      • The Financial Crimes Enforcement Network (FinCEN) 
      • The Office of Foreign Assets Control (OFAC)
    • UK Laws & Regulations
      • The Proceeds of Crime Act (POCA), 2002
      • The Terrorism Act. 2000
      • The Money Laundering, Terrorist Financing and Transfer of Funds, 2017
      • The Financial Conduct Authority (FCA)
    • India Laws & Regulations
      • The Prevention of Money Laundering Act, (PMLA), 2002
      • The Narcotic Drugs and Psychotropic Substances Act (NDPSA),1985 (amended in 2001)
    • Pakistan Laws & Regulations
      • The Anti Money Laundering Act, (AMLA), 2010
      • The State Bank of Pakistan
      • The Securities & Exchange Commission of Pakistan
      • The Federal Board of Revenue
    • UAE Laws & Regulations
      • Federal Law No.(4) of 2002 re Criminalization of Money Laundering
      • Federal Law No. (20) of 2018 re Combating Crimes of Money Laundering, Terrorism Financing and Illegal Organizations
      • Central Bank of UAE – Financial Intelligence Unit
      • National Committee for Combating ML and the FT and Illegal Organizations

    Financial Institutions Liabilities

    • Willful Blindness
    • Failure to Report
    • Mal-fide Reporting
    • Tipping Off

    Financial Institutions Obligations

    • Know Your Customer
      • Definition and Components
    • Enhanced Due Diligence
      • High-risk Customers
      • High-risk products
    • Measures to Deter Money Laundering
      • Suspicious Customers
      • Suspicious Transactions
      • Ultimate Beneficial Ownership (UBO)
    • Group Case: Bank Failures of Money Laundering Controls - HSBC

    End of Day 1 Conclusions & Remarks

     

    Day 2:

    Compliance Defined

    • Regulatory Compliance
    • Compliance in Financial Institutions
    • Insider Information & Market Manipulation
    • What Went Wrong – Bank Compliance Failures
      • Standard Chartered
      • BNP Paribas
      • Barclays
      • Numora
    • Group Case: National Bank of Abu Dhabi

    Compliance Pillars

    • Structure, Autonomy & Resources
    • Objectives & Expectations
    • Training & Communication
    • Operations & Delegation
    • Reporting & Enforcement
    • Monitoring & Assessment
    • Leadership, Engagement & Support

    Financial Institutions Compliance

    • Sources & Objectives
    • Key Triggers
    • Role & Function of the Regulator
    • The Compliance Function
    • The Compliance Officer
    • Suspicious Reporting & Whistle Blowing
    • Staff Responsibilities
    • The role of Information Technology
    • The Compliance Statement
    • Group Case – Applying Information Technology in AML

    Recent Developments

    • Sanctions
      • Origins and Development of International Sanctions
      • Broad Sanctions vs. Sectoral Sanctions
    • Foreign Account Tax Compliance Act (FATCA)
      • Background
      • Provisions
      • Implementation
    • Group Case – The Panama Papers

    End of Day 2 Conclusions & Remarks

     

     

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Bassam Azab

    Biography

    Bassam Azab has over 25 years of banking and consulting experience with some prominent multinational banks, among which HSBC Bank and International Finance Corporation (IFCC), The World Bank Group, in several banking areas including Corporate Governance, Strategic/Risk Management of Financial Institutions, Corporate Finance and Capital Markets. Bassam is a Financial Strategist, Risk Management & Corporate Governance Expert and a Board Director. Across his career, he has participated in a number of Boards and Executive Steering Committees for project developments covering both Green Field and Restructures for Mergers and Acquisitions related to financial institutions in the Middle East. In the course of his career, he headed a number of consulting assignments covering Corporate Governance, Financial Restructuring and Risk Management to Banks and Corporate Institutions. Bassam is professional trainer and regular speaker at financial conferences in the Middle East. He is a consultant to a number of Multinational Organizations in the area of financial services. He is a Holder of a Masters in Business Administration (International Banking & Finance) from the University of Birmingham, UK (Distinction), a Banking Certificate from the Chartered Institute of Bankers, UK and a Certificate of International Securities & Investment from the Chartered Institute for Securities and Investment, UK (Merit).