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 Abdullah is a trainer, consultant and compliance practitioner. He comes with 27 years of working experience in various international banks including Labuan offshore banks and premier training institute for financial institutions.
Aazad graduated with a Bachelor of Jurisprudence from Universiti Malaya (Malaya), Bachelor of Business Administration from Universiti Utara Malaysia and Master of Commercial Law, Malaya. He has an Advanced Certification in Anti-Money Laundering jointly awarded by the Asian Institute of Chartered Bankers (AICB) and International Compliance Association in collaboration with University of Manchester Business School, UK, Certified Integrity Officer (CeIO) awarded by Malaysia Anti-Corruption Academy (MACA); and holds a Certificate in Sustainable Finance awarded by United Nations Institute for Training and Research (UNITAR).
Aazad specialises and delivers training in the subjects of financial crime, anti-money laundering, international sanctions, ultimate beneficial ownership, anti-bribery/corruption (ABC) and is a HRDC certified trainer. In 2022, he presented in a forum on “Managing Compliance Risks: e-Know Your Customer” jointly organised by the Regulatory Commission of Mongolia and Financial Education HUB.
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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Note for offline payment Method
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.
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.
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