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Labuan IBFC - Customer Due Diligence
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    PROGRAMME DETAILS

    DATE

    12 November 2019

    TIME

    2:00 PM – 6:00 PM

    VENUE

    LFSA, Financial Park Complex, Labuan

    4

    LFSA

    CPD HOURS

    Customer Due Diligence (CDD) should be conducted prior to accepting any clients for incorporation or registration and during the course of establishing a business relationship with any Labuan entities.

    This programme has been designed to provide an understanding of the concept and definition of CDD, when CDD is required, what is required in CDD, who is required for CDD, ECDD and on-going due diligence applicable across all Labuan entities.

    The content of this programme is not to be regarded as an exhaustive list of what should be undertaken nor be regarded as the minimum standard to be achieved. Parties involved should exercise their own judgement in assessing and determining the exact scope and extent of the steps required within the context of CDD and Enhanced Customer Due Diligence (ECDD). Labuan FSA expects the roles and responsibility of CDD and/or ECDD conduct to be undertaken in an effective and professional manner.

    LEARNING LEVEL
    Intermediate
    PROGRAMME FEE

    MYR

    300*

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of the programme, participants will be able to:

    • Understand the scope of CDD and ECDD requirements
    • Understand the minimum requirements of CDD and ECDD

    • Understand the basic concepts of CDD and ECDD based on the Guidelines on Anti-Money Laundering and Counter Financing of Terrorism for the Trust Company Sector and Guidelines for Labuan Trust Officers

    • Understand the importance of CDD and ECDD for pre and post-incorporation and registration of Labuan entities
    PROGRAMME OUTLINE

    • When and what is required for CDD and timing of verification

    • CDD requirements for:

    - Individual and beneficial owner
    - Legal persons
    - Legal arrangements
    - Clubs, societies and charities

    • Enhanced CDD

    - When and why ECDD is required
    - What is required for ECDD

    • On-going due diligence

    - What are the measures and consideration factors
    - What is the frequency

    • Other CDD related matters

    - Politically exposed persons
    - New products and business practices
    - Reliance on third parties CDD
    - Non face-to-face relationships
    - High risk countries

  • Methodology

    Combination of lectures and discussions between presenter and participants to ensure that participants derive the maximum learning benefits.

  • Participant Profile

    Trust Officers or designated Trust Officers of Labuan Trust Companies, Money Brokers and Compliance Officers of Labuan Licensed Entities (Bank, Insurance, Trust Company, Money Broker and Fund Manager)

  • Trainer

    nazuhana hood

    Nazuhana Hood is heading the Registrar of Companies Unit, in Labuan FSA. She was attached to the business operations for eight (8) years prior to heading ROC in year 2016. She has been with Labuan FSA for 11 years since year 2008.

    She began her career with a well-established reinsurance company licensed by Labuan FSA after obtaining her Business Degree (Double Major in Accounting and Economics) in 1998 from Edith Cowan University in Perth, Australia. Nazuhana has also worked with the pioneer retakaful company also licensed by Labuan FSA prior to joining Labuan FSA.


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