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OVERVIEW

PROVIDED COURSES

UPCOMING COURSES

AML and Correspondent Banking Relationship

COURSE SUMMARY
Financial crimes, specifically money-laundering schemes, grow unchecked in both complexity and volume. The cost of these crimes is broad and deep, encompassing human and environmental toll. Lives and communities are destroyed by terrorism, human and drug trafficking, as well as illicit wildlife trade.At the same time, financial services organizations face growing risk. Regulators levied more than $8 billion in fines in 2019, nearly double 2018 penalties, and the trend continues.
As the threat landscape changes continuously, it’s more important than ever that financial institutions elevate their defensive posture to match the increasingly perilous terrain. In fact, this is precisely the time that financial institutions should be focused on modernizing their anti-money laundering (AML) programs to bolster their position today and into the future.
This 5-day course provides regulatory updates, emerging threats and risks especially from digital channels, and guidelines for setting up and maintain a comprehensive and efficient AML Program to protect your organization from being a target of money laundering and to avoid being fined due to violations of AML regulations.
Key course highlights:
  • Anti – money laundering trends and regulations update
  • The U.S. Anti-money Laundering Act 2020 and its compliance expectations
  • BSA/AML Program Modernization
  • Concepts and logics to build an AML program
  • AI/ Machine Learning Application to solve the issue of traditional BSA/AML solutions.
Target Audience
This course is suitable for senior managers with responsibility for, or involvement in, the development or implementation of AML policies and procedures. It will also highly benefit financial officers, financial controllers, accountants, Money Laundering reporting officers, compliance officers, managers, auditors and staff with duties requiring AML compliance.
Venue and Time
Option 1: 14 – 18 Nov 2022
- 14 Nov to 17 Nov: Aria Hotel, Nevada
  • Morning section: 9:00 am – 12:00 am
  • Afternoon section: 1:00 pm - 5:00 pm
- 18 Nov, 9:00 am–7:00 pm: Field trip & Closing at The Westin South Coast Plaza, CA
Option 2: 28 Nov – 2 Dec 2022
- 28 Nov – 1 Dec 2022: Aria Hotel, Nevada
  • Morning section: 9:00 am - 12:00 am
  • Afternoon section: 1:00 pm - 5:00 pm
- 2 Dec 2022, 9:00am–7:00pm: Field trip & Closing at The Westin South Coast Plaza, CA
Option 3: 5 – 9 Dec 2022
- 5 – 8 Dec 2022: Aria Hotel, Nevada
  • Morning section: 9:00 am - 12:00 am
  • Afternoon section: 1:00 pm - 5:00 pm
- 9 Dec 2022, 9:00am–7:00pm: Field trip & Closing at The Westin South Coast Plaza, CA
Option 4: 12 – 16 Dec 2022
- 12 – 15 Dec 2022: Aria Hotel, Nevada
  • Morning section: 9:00 am - 12:00 am
  • Afternoon section: 1:00 pm - 5:00 pm
- 16 Dec 2022, 9:00am–7:00pm: Field trip & Closing at The Westin South Coast Plaza, CA

AGENDA
TOPIC DESCRIPTION / TIME

SECTION A

 DAY 1 & DAY 2
I. AML: Past, Present and a New Future – Regulation Perspective
1. History of Anti-money LaunderingLaws in the US
  • U.S. Key BSA/AMLRegulatory Developments Timeline
  • U.S. Enforcement Developments
  • International Developments
2. AML Evolution in Vietnam
  • Legal Framework and Compliance Status Overview
II. Compliance Culture & Risks of Non-compliance
  • Risks of non-compliance: Cases study
  • Compliance culture and the Board of Directors’ roles in AML compliance
III. Anti-money Laundering Act 2020 (AMLA 2020)
  • AMLA 2020
    • Aim at Increasing BSA/AML Effectiveness and Modernization
    • Increased BSA/AML Enforcement Tools and Authority
    • Expanded BSA/AML Penalties
    • Expanded Subpoenas Authority for Foreign Bank Records
  • AMLA 2020 and Its Influence to the Development of AML/CTF Legislation Worldwide
  • Compliance Expectations from the first FinCEN National Priorities
IV. Digital Age and Risks of Money Laundering and Financial Crime
  • Digital Age with:
    • Digital Banking
    • Digital Currencies
    • Digital Gambling, Gaming, etc.
  • Emerging Threats from Digital Channels
  • Major Movements in South East Asia relating to Digital Banking recently
  • Challenges Posed by Digital Banking to AML/CTF
V. Sanctions
1. Sanctions Origin and Legal Framework
  • Sanctions Origins
  • Sanction Creation and Enforcement
2. Sanctions Violations and Typical Sanction Evasion Schemes
  • Shell Companies
  • Trade Finance
  • Correspondent Banking
  • Cryptocurrency (Venezuela “petro” digital currency, etc.)
3. US Sanctions Update
  • Key updates on the US Sanctions
  • Ukraine-/Russia- Related Sanctions
4. Sanctions Compliance Program
  • Identifying and Managing Sanctions Risk
  • Key Aspects of a Robust and Effective Sanctions Compliance Program
  • Sanctions Strategies for Strengthening Sanctions Compliance
SECTION B DAY 3
I. AML Program Modernization
  • Current Challenges Across the AML Program
  • The Need for AML Program Modernization
  • Anatomy of A Modern AML Program
  • Operation Considerations
II. Enterprise-Wide Risk Assessment (EWRA) to Reflect New Threats/New Regulation Requirements and to Build a Modern Comprehensive AML/CTF Program
  • Inherent Risks Vs. Residual Risks
  • Inherent Risks Considerations
  • EWRA – Stakeholder Engagement, Stakeholder Accountability and Partnering for Success
  • Risk Assessment Cycle
III. AI, Machine Learning for AML Program Modernization
1. Challenges of Traditional AML Solutions
  • CompromiseCustomer Experience due to High False Positives
  • Labor Intensive
  • Inefficient due to Manual Involvements
2. AML Tasks with Possible AI Application
  • Customer Identification and Verification (KYC)
  • Transaction Monitoring
  • Identification and Implementation of Regulatory Updates
  • Automated Data Reporting
3. Challenges for AI and Machine Learning as Part of AML Solutions
  • Data Quality
  • Explainability of the Results
SECTION C DAY 4
I. Conducting or Supporting the Investigation Process
1.Responding to Law Enforcement Investigation
  • Law Enforcement Investigations
  • How to respond to Law Enforcement Investigation
2.Conducting an internal investigation
  • Internal Investigation
  • Necessary Steps in Conducting the Investigation
  • Exploiting the Internet for Money Laundering Investigation
3.Supporting the Investigation process
  • AML Cooperation Between Countries
  • Mutual Legal Assistance Treaties
  • Financial Intelligence Unit
  • The Supervisory Channel
  • FATF Recommendations on Cooperation Between Countries
II. Summary & Review on AML and CFT
  • Review & Discussion section
  • Case Study Analysis
  • Q&A section
SECTION D DAY 5
Site visit and experience sharing from a US banks or money transmitter’s head office/agents.
1. Introduction of the Bank’s AML program
  • A successful AML Program: accountability and commitment on behalf of Management/Board of Directors
  • Challenges and obstacles in responding to changes and updates in laws and regulations
  • Transaction monitoring and filtering system
2. Case study
  • Real cases experienced by the Bank

OUR LECTURES
1. Our Philosophy:
  • “We committed to provide the most comprehensive compliance training for every single client so that our clients will always do the right thing each and every single time.”
    • 2. Our Lecturers’ Qualification:
    • a. At least 8 years experiences dealing with the U.S. banks and the U.S. State and Federal regulators in compliance aspect
    • b. CAMS ( Certified Anti-Money Laundering Specialists) Certificate Holder
    • c. Updating knowledge about AML & CFT Laws and Regulations every year via professional compliance conference and the U.S. regulators conference
    • d. Partnership with
      • i. Edward Brady, CAMS, President and Lead Independent BSA / AML Compliance Consultant at A.E.B. Consulting Services, 5 years experience in AML training, plus 4 years working as Chief Compliance Officer for Money Service Business.
      • ii. Hanh Le, CAMS, Chief Compliance Officer at VCB Money, Inc. 15 years of experience in AML.
      • iii. Duong Le, former Director of AML Department of Vietcombank, former Deputy Director of Banking Technology Modernization Board of Vietcombank with over 32 years of experience in Banking and Compliance.

    FEES AND APPLICATION
    Fee: US$ 4,500.00 per participant

    (Including coffee breaks; No meals provided; Travel expenses for airfare, hotels and transportation costs if any are on participants’ own account)

    Discount for group registration:
    • 5% discount for group of 6 – 10 participants,
    • 10% discount for group of 10 – 20 participants
    • 15% discount for group of over 20 participants
    Application:

    Register on line at our website or via email to amltraining@tnmonex.com at least 15 days before the course starting date

    Register Now