Description

Course Outline:

I. Risk-based Customer Identification and Acceptance

– Customer Due Diligence (CDD)
I. Minimum Required Information/Documents and Validation Procedures ( including valid ID and validation procedures)
II. Three-tiered Customer Risk Rating

– High Risk Industry/Products/Services/Relationships
I. Money Service Business (MSB), including bitcoin
II. High Profile Individuals ( formerly PEPs)
III. Private Banking/Wealth Management
IV. Correspondent Banking
V. Fund/Wire Transfer
VI. Manager’s Check
VII. Second-endorsed Check
VIII. Numbered Accounts
IX. Shell Company/Shell Banks
X. Prohibited accounts (anonymous/fictitious accounts)

– Allowable Non Face-to-Face Arrangements
I. Outsourcing of KYC documents gathering
II. Third Party Reliance
III. Thru Trustee, Nominee, Agent or Intermediary

II. On-going Monitoring of Accounts and Transactions of Customers

– Transaction Alert Management
I. Timeliness
II. Propriety

– Updating of KYC documents/information

III. Regulatory Reporting System ( Covered Transaction Report – CTR and Suspicious Transaction Report – STR)
– Scope and basis of reporting
I. Reportable and Deferred Trxns for Reporting – CTR
II. Grounds for reporting and relationship of RCL with STR
III. 34 Predicate Crimes related to ML/TF
– Procedures and Approval Matrix
– Enforcement Actions

IV. Recordkeeping & Retention

V. Annual MLPP Education & Training Program

VI. Group Learning Activities: Cases of Suspicious Transactions (STRs)

VII. OVERVIEW OF THE BSP AML RISK RATING SYSTEM (ARRS)

VIII. Validation Exam

Schedule: May 3, 2019 (Friday); 8:30 A.M. to 5:00 P.M.

Venue: Dusit Thani Manila, Ayala Center, Makati City.