Assignment Question International Advanced Certificate in Anti Money Laundering Due date: 23 January 2017 Guidance ïƒ˜ Please submit one document only in a Microsoft word format ïƒ˜ The title of your assignment should be your user ID number that begins with CON- or ICTD followed by the numbers ïƒ˜ Word count must be between 2000-2500. This includes all footnotes, in text references and appendices but excludes any bibliography, reference or contents page(s). N.B. Appendices should only be used in exceptional circumstances and should consist of only brief extracts or tables. ïƒ˜ Further advice on all aspects of assignment writing and submission is available in the Student Support Area. Question You are a new member of the AML Compliance team that advises upon new business accountopening in a regulated institution in a sector and jurisdiction of your choice. On joining the firm, you were given an AML training orientation programme, which at the time appeared clear and concise; however, your experience with dealing with new clients has made you aware that you may require a more specialist training session. In advance of the session you have been required to write a paper that covers the following areas: (a) What you understand by the term ‘a knowledge or suspicion of money laundering’? What (if any) is the difference between a ‘suspicion’ and a ‘concern’? (40 marks) (b) What are the policies and procedures that must be in place to support a robust and compliant system for reporting knowledge or suspicion of money laundering or terrorist financing by staff and the nominated officer? (30 marks) (c) Using case studies, indicate the key risks that must be managed during the reporting and handling of reports of knowledge or suspicion of money laundering activity. (30 marks) Total 100 Marks
Anti Money Laundering
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