Virtual Training

Correspondent Banking

Date

November 14, 2022

Duration

5 day(s)

Hours

09:00  – 15:00 (GMT)

Fee

£600

Training Overview

Day 1

  • What is Money Laundering?
  • The Risk-based approach to anti-money laundering.
  • Money laundering risks in Correspondent Banking – an overview of the 5 days.
  • What is Correspondent Banking?
  • The FATF, Wolfsberg Group and BIS guidance on Money Laundering risks in Correspondent Banking.

Day 2

  • Types of Correspondent Banking activities.
  • International regulatory standards.
  • What are Sanctions?
  • Sanctions breaches and Correspondent Banking.
  • De-Risking of Respondent banks by Correspondent banks.

Day 3

  • Risk assessment in Correspondent Banking.
  • Risk management in Correspondent Banking
  • Customer Due Diligence and Respondent Bank due diligence.
  • Know Your Customer’s Customer.
  • Assessing Respondent banks’ AML/CFT controls.
  • Enhanced Due Diligence in Correspondent Banking relationships.
  • The Wolfsberg Questionnaire.

Day 4

  • Transaction monitoring in Correspondent Banking.
  • Effective communication between Correspondent and Respondent banks.
  • Ongoing due diligence.
  • Requesting information from Respondent banks.
  • Case studies and exercises in practical application of the framework.

Day 5

  • Governance of the Correspondent Banking relationship.
  • The Risk-based approach and mitigating higher money laundering risks.
  • MVTS customers.
  • Key points and recap of the 5 days.
  • Assessment.
  • Certificates.

Learning Outcomes

  • Understand the key features of Correspondent Banking services
  • Discover a framework for navigating money laundering risks associated with Correspondent Banking services
  • Understand the key features of a Correspondent Banking money laundering risk assessment
  • Recognise Trade-based money laundering red flags
  • Identify common policy, procedure and control deficiencies from real TBML case studies
  • Assess the AML, Sanctions and Terrorist Financing risk profile of proposed Trade Finance transactions
  • Integrate Trade-based money laundering controls into an existing AML framework

About EBII Group

Emerging Business Intelligence & Innovation (EBII) Group is a compliance and risk management consulting firm headquartered in the UK and supported by Oxford University Innovation. EBII Group’s mission is to unlock Africa’s investment value by helping market participants to understand the compliance risks and mitigations associated with their Africa investments proposition. EBII Group works closely with Banks and African governments by strengthening their compliance programmes, regulatory and enforcement programmes. We, therefore, provide a critical link between African nations and the rest of the world, creating a more conducive environment for interactions.

Virtual Training

Correspondent Banking

£600

Date

November 14, 2022

Duration

5 day(s)

Register your interest to download the programme brochure

Register your interest