AML/CFT news

This course aims to provide a comprehensive overview of the legal framework and requirements for combating money laundering in Luxembourg, as well as recent developments in this area.

The training covers the prevention of money laundering as defined by the FATF recommendations and European directives, national laws and regulations, as well as the practical implications for insurance professionals.

Topics such as risk self-assessment, customer due diligence obligations and cooperation with the authorities are covered in detail, with illustrations and concrete examples.

• Brief history and development of preventive anti-money laundering legislation in Luxembourg.
• Relevant Luxembourg national laws and regulations.
• New legislative and regulatory developments.
• Implications for insurance professionals.
• Professional obligations to prevent money laundering: BC-FT (Money Laundering and Terrorist Financing) risk assessment, customer due diligence obligations, cooperation with the FIU and the supervisory authority, geographical risk categorisation, supranational references and assessments, focus on the identification and verification of beneficial owners.
• Restrictive measures and international financial sanctions: what are the obligations of economic operators in the insurance sector?
• The future of supervision.
• Penalties for non-compliance with preventive legislation and whistleblowing procedures.

Interactive presentations:

• Use of visual presentations to explain key concepts.
• Integration of interactive elements such as Q&A sessions and discussions to maintain participant engagement.

Quiz

Certificate provided at the end of the session

An email is sent the day before the training with the details of the video conference.

Best Practices:

• Arrive 5 to 10 minutes before the training session.
• Before the session: perform an audio test (video conferences often lose 10 to 15 minutes due to connection issues).
• Be punctual for the start of the training.

Some recommendations:

• Use headphones.
• Be in a quiet environment.
• Ensure a good internet connection.
• Silence your mobile phone during the session.
• Avoid multitasking.
• Set up in a secluded and practical location for your cables and note-taking.
• Isolate yourself from any distractions and noise (TV, kitchen, etc.) for the duration of your training.
• Settle into your dedicated space, such as a desk, and make sure to lock the door while you work - to prevent unexpected interruptions from children.