Training Course
Syllabus:
Bankers: Money-Laundering, Reporting Obligations and the New Criminal Finances Bill
Objectives of the Presentation
- New powers and safeguards
- Improve the UK capability to recover the proceeds of crime, including international corruption
- Transforming the relationship between public and private sectors
- Enhancing the UK law enforcement response
- Combating the financing of terrorism
Why Should you Attend
The bill is a key element of one of the most significant changes to our anti-money laundering and terrorist finance regime in over a decade. It is part of a wider package of measures aimed at strengthening the government´s response to money laundering and improving the amount of criminal assets confiscated by the state (and, where possible, returned to victims). This includes:
- Improving the effectiveness of the supervisory regimes for the regulated sector
- Reforming the Suspicious Activity Report (SARs) regime, including investment in systems and processes to complement the legislation
- A cross-government action plan on asset recovery
- Increasing our international reach through events like the Anti-Corruption Summit in May 2016 to build capacity with overseas partners, reflecting the global nature of this issue
Areas Covered
The facets for the Criminal Finances Bill
- The Criminal Finances Bill
- Unexplained wealth orders
- Disclosure orders
- Power to obtain further information and extend the SARs moratorium period
- Information sharing
- Seizure powers
- Proceeds of Crime Act (POCA) amendments
- Terrorist financing
- Corporate failure to prevent tax evasion
|