Now, in addition to the FATF's own members, countries around the world have had substantial input into the final version. The end result is that many countries will be required to modify th law and regulations they have in place to combat money laundering and the financing of terrorism.
But there are other major changes: the inclusion for the first time of a requirement to impose a sanctions regime brings businesses of all kinds within the range of activities over which the 40 Recommendations has some influence.
The entire offshore sector must pay attention to the activities of many more of their clients in relation to apparently ordinary business.
But countries do not always implement the 40 Recommendations in exactly the same way. So criminals are able to exploit differences between those implementations.
Banks, insurance companies and securities houses will need to develop new systems and controls to apply to business areas that will fall within the new regime.
In this seminar, Nigel Morris-Cotterill, Head, The Anti Money Laundering Network, will explain all of these aspects and more.
Who should attend
CFOs and CEOs of commercial entities
Compliance / money laundering risk officers of financial services businesses
Corporate lawyers and consulting firms, auditors and accountants.
Details: http://www.financialcrimeforum.com
The course will be held in the following cities:
Hong Kong 10/11 May 2012
Jakarta 14 /15 May 2012
Singapore 16/17 May 2012
Dubai 20 / 21 May 2012
London 24 / 25 May 2012
Cost: GBP600 per person (550 per person for more than one person on the same booking) (plus VAT in London).
