This one-day programme will provide participants with the important criteria to identify and verify beneficial owner (BO).
The availability of BO is a key requirement in the fight against ML/TF. It also aims to raise capability in understanding and adapting the regulations to comply and determine the BO in complex legal persons and legal arrangements set-up with the guidance of international and local guidelines; including from best practices.
Programme Outline
Learning Objectives
By the end of the programme, participants will be able to:
Appraise the requirement to identify and verify the natural person behind legal persons and legal arrangements
Examine criteria used and obstacles to identify BO
Analyse the technical aspects required by the regulator under BO requirements
Identifying the key components such as thenatural person who is the beneficial owner of the customer
Taking reasonable measures to verify the accuracy of the information obtained and keeping records of all relevant documents
Performing further regulatory obligations based on the risk category of the beneficial owner such as CDD, sanction screening and high-risk jurisdiction
Differences between Legal Persons and Legal Arrangements- obtaining information that describes the ownership, control and structure of the legal persons/ legal arrangements relating to the beneficial owner
Apply the ownership through the three cascading tests and thresholds and what amounts to the controlling elements to determine BO
Conducting customer risk profiling to identify the risk category of the beneficial owner
Challenges for an effective BO approach
Practical BO Cascading Steps Case Studies
METHODOLOGY
Lecture, discussion, class activity and infographics
Participant profile
Operations, business and compliance staff
Trainer
Aazad Ananthan
Trainer, consultant & compliance practitioner
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As the industry’s preferred partner in learning and development, ABS offers customised and open enrolment training programmes that cover a comprehensive list of banking areas.
Aazad Ananthan has over 29 years of experience in the banking sector, specialising in Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) and Anti-Bribery/Anti-Corruption (ABC) initiatives. His academic background includes a Master's in Commercial Law and dual Bachelor's degrees in Law and Business Studies from Universiti Malaya and Universiti Utara Malaysia, respectively, complemented by certifications from the International Compliance Association (ICA) and Malaysian Anti-Corruption Academy (MACA).
At Bank Islam, he served as Senior Manager and Unit Head of the Centre of Excellence, spearheading their internal training programmes on compliance across the organisation. His tenure also involved managing a repository of compliance knowledge and conducting critical corruption risk assessments, supporting key offices including the Office of Anti-Corruption & Professional Standards (OACP) and Audit.
Prior to this role, he was with the Asian Banking School as a Senior Consultant on AML/CFT and ABC matters. He led policy reviews and oversaw the development of online training modules. He also worked in Labuan banks in AML/CFT operations and trade finance management roles.
The Asian Banking School (ABS) is dedicated to developing talent and is the largest specialised provider of quality banking training programmes in the ASEAN region.
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Kindly download the Payment Form here for our banking details and if making company sponsored payments. You are required to upload this form to complete the registration process.
