New EU AML Package and Sanctions: Key Changes in AML/CFT and Sanctions Compliance

Enhancing knowledge and understanding of:

• changes introduced by the new EU AML framework;
• the timeline for the new requirements to become applicable;
• AMLA and the development of a single EU AML/CFT framework;
• changes in customer due diligence and risk management requirements.

• Representatives of the banking and non-bank financial sectors.
• AML/CFT compliance specialists.
• Sanctions compliance specialists.
• Risk management and internal control specialists.
• Company managers and board members.

• Understand the requirements of the new EU AML package;
• Apply the knowledge in practice to improve and update the company’s internal regulatory framework.

Basic knowledge of AML/CFT and sanctions compliance is recommended.

Training materials prepared by BDA.

Not intended.

Module 1: The New EU AML Package – Framework, Structure and Key Changes

• Why was the new EU AML package introduced?
• Key objectives of the new EU AML framework.
• Structure of the new AML framework.
• Key legislative acts of the new AML package:
  • AML Regulation;
  • AML Directive;
  • AMLA Regulation;
  • Transfer of Funds Regulation.
• The difference between a regulation and a directive.
• The sanctions dimension.

Module 2: AMLA and the New Approach to Risk Management, Customer Due Diligence and Sanctions

• What is AMLA? Key responsibilities and functions.
• Developing a harmonized EU AML/CFT approach and practice.
• AMLA RTS, ITS and guidelines.
• Transfer of EBA AML/CFT functions to AMLA.
• Risk management and risk assessments.
• Draft AMLA Guidelines on risk assessment.
• Sanctions-related documents.

Module 3: Customer Due Diligence, Beneficial Ownership, Sanctions Screening and Risk Assessment

• The customer due diligence process.
• The beneficial ownership identification and due diligence process.
• Draft AMLA RTS on customer due diligence (CDD).
• Draft AMLA RTS on the identification of transactions and business relationships.
• Sanctions screening.

Module 4: Transaction Monitoring, Suspicious Transactions and Sanctions Evasion

• Ongoing customer monitoring.
• Draft AMLA Guidelines on transaction monitoring.
• Suspicious transaction reporting.
• Draft AMLA ITS on suspicious transaction reporting.
• Identifying sanctions evasion and circumvention – EBA Guidelines.