Anti-Money Laundering &Global Economic Sanctions (IN PERSON)

Anti-Money Laundering &Global Economic Sanctions (IN PERSON)
Anti-Money Laundering Update and Global Economic Sanctions
PD22231421- IN PERSON

The financial crime landscape has been changing largely due to the introduction of digital technologies. These new technologies have created new opportunities to criminals in laundering proceeds of crime. Professional accountants are considered "gatekeepers" of the financial system and as such, they have a huge responsibility to detect and deter money laundering and terrorism financing activities. By the nature of the services that they offer, accountants are susceptible to money laundering and terrorism financing risks.





To strengthen Canada’s anti-money laundering regime and address emerging challenges in the fight against money laundering and terrorism financing, several new amendments to the regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) came into force recently. These changes affect all reporting entities including Accountants and accounting firms.

Some of the amendments that impact Accountants and accounting firms include;

  1. Know-your-client requirements
  2. Screening for politically exposed persons and heads of international organizations
  3. Recordkeeping requirements
  4. Obligations accountants and accounting firms have when entering into business relationships
  5. Bankruptcy practitioners’ exemption


LEARNING OBJECTIVE

  1. Assist accountants and accounting firms understand their roles and responsibilities under PCMLTFA
  2. Assist accountants and accounting firms to craft effective anti-money laundering control programs
  3. This training is aimed at helping the accountants and accounting firms learn about the new anti-money laundering rules, how they impact them and how to apply them

Global Economic Sanctions Training

The Russian invasion of Ukraine has led to various sanctions issued against Russia including sanctions issued by Canada under the Special Economic Measures Act. These sanctions impose: (i) asset freezes and dealings prohibition on designated individuals and entities; and (ii) restrictions in the provision of certain services to sanctioned entities and individuals.

Sanctions compliance is a critical issue for professional Accountants. As such, accountants and accounting firms should be aware of the various types of sanctions and their compliance obligations. Accountants should also design effective controls to mitigate the risk of sanction breaches.

CONTENT

  1. What are sanctions and who imposes them
  2. Types of Sanctions and their targets
  3. Current sanctions imposed by Canada
  4. Sanctions Evasion Techniques and Red flags
  5. How accountants and accounting firms are exposed to sanctions
  6. Potential sanctions breaches and how they occur
  7. How to design an effective compliance program to mitigate sanction breaches 

Course Leader/s
Sam Kiragu

CPD- 3.5 Hours

When
11/16/2022 8:30 AM - 12:00 PM
Where
In-person
Registration not available.