Introduction to the European Union Anti-Money Laundering regulatory framework
On July 20th, 2021, the European Commission (EC) introduced a new AML/CFT package to strengthen the EU's AML/CFT regulatory framework. The package harmonizes AML rules in the European Union (EU) and creates a new Anti-Money Laundering Authority (AMLA). On February 22nd, 2022, the European Commission Introduced a trainer's manual and its corresponding user's manual.
Under the proposal AML package, an EU Anti Money Laundering Authority (EU-AMLA) will be created as a supervisory authority for combatting money laundering and terrorist financing. The EU-AMLA will be established in 2023, aiming to start most of its activities in 2024. From 2026, it will directly supervise selected financial services sector entities active in multiple Member Stated an exposed to increased AML-CFT risks. As part of its supervisory duties, the EU-AMLA will review entities' group-wide compliance with the EU-AML regulatory framework, undertake investigations, issues instructions and impose sanctions for violations of applicable AML/CFT laws of up to 10% of the total annual turnover will be available for the most severe violations.
Introduction to the European Union Anti-Money Laundering regulatory framework
About the course
Our Introduction to the European Union Anti-Money Laundering regulatory framework training program for financial experts to help your organization with AML/CFT and other related European regulations in line with the global crackdown on money laundering.
Our training program will directly help your organization move forward with AML/CFT requirements.
Program
- Introduction to the International and European AML/CFT regulatory framework
- AML risk assessment
- AML risk mapping
- AML/CFT written procedures
- Know Your Customer (KYC) standards, including Customer Identification Program and Customer Due Diligence (CDD)
- AML training
- Additional AML/CFT requirements
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