AML / TF / PF Directors and Senior Executives 2025

AML, TF & PF Jersey  – Directors and Senior Executives 2025

Module 1 – Introduction

• AML Laws
• Stay Vigilant
• Ongoing Professional Education
• Objectives

Module 2 – Money Laundering

• Definition
• Stages of Money Laundering
• Predicate Offences
• Placement
• Front Companies
• AML Timeline
• Layering
• Integration
• Cost of Doing Business
• Scale of Money Laundering
• Social Impact of Money Laundering

Module 3 – Terrorism and Proliferation Financing

• TF Definition
• Terror Attacks and Costs
• Vulnerable Organisations
• Comparison with Money Laundering
• PF Definition
• UN Resolution
• Global Security
• PF Red Flags

Module 4 – Anti-Money Laundering

• Definition
• Global Stakeholders
• FATF
• FATF 40 Recommendations
• FSRBs
• Mutual Evaluation
• FIU Definition & Functions
• AML Summary

Module 5 – AML / CFT Basics

• Board Responsibility
• Role of Compliance
• Risk Based Approach
• Flexible, Effective & Proportionate
• Client Risk Analysis
• SDD, CDD & EDD
• Identifying an Individual
• Address Verification
• Identifying a Legal Structure
• Verifying an Legal Structure
• Beneficial Owners
• Relationship Factors
• Source of Funds
• Source of Wealth
• Volume of Transactions
• Reasons for Business
• PEPS and Definition
• Screening Process and Challenges
• High Risk Jurisdictions (FATF & EU)
• Client Risk Analysis
• Documents to Read
• Document Retention
• Insider Risk
• Suspicion
• Tipping Off
• Red Flags
• Reporting Suspicions
• MLRO Investigations

Module 6 – Sanctions

• Sanctions & Targeted Financial Sanctions
• Freezing Regime
• Client Screening
• Screening Lists
• What is Screening?
• Adverse News & Media
• The OFAC List
• Screening Challenges
• Purpose of Screening

Module 7 – AML Consequences

• Global Penalties 2023
• Industry Failures
• 3 Causes of Penalties
• 5 Case Studies 2023
• Personal Risk
• Reputational Damage
• Impact on Employees

Module 8 – AML in Jersey

• Mutual Evaluation 2024
• MER Ratings
• NRA – ML
• NRA Sector Risks
• NRA – TF
• Local Laws
• Register of Beneficial Owners
• AML Sanctions and Penalties
• Civil Sanctions
• Civil Sanctions – Examples
• JFSC Role of the MLRO / Weaknesses
• FIU STRs and SARs

Module 10 – Tax Crimes

• FATF and Tax Crimes
• Tax Crimes as Predicate Offences
• Evasion v Avoidance
• Tax Evasion Risk Assessment
• Voluntary Tax Disclosure
• Red Flags
• Client Risk Assessment
• International Initiatives

Module 11 – Directors and Senior Executives

• Making You Think!
• Your AML Responsibilities
• Senior Management Responsibilities
• Consequences of Failure
• Civil & Criminal Liability
• Demonstrate Your Responsibility
• Delegation
• Delegation – Practical Aspects
• Effective Challenge
• Supervisory Visits
• Fines and Sanctions
• Your AML and Associated Policies
• Worry list
• To do List
• Outside the Boardroom

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