AML/CFT Compliance for Real Estate

Start Time

2 APR 2020
08:30 AM

End Time

2 APR 2020
12:30 PM

Location

Aruba, Caya Dr. J.E.M. Arends 15, Suite 2-3

Introduction

A comprehensive and practical course for real Estate Agents & Brokers on how to comply with anti-money laundering legislation. The most important pillars of the AML/CFT Law such as Customer Due Diligence (Simplified, Standard and Enhanced), determination of risk profiles (Low, Medium & High), client acceptance including Politically Exposed Persons (PEPs) and identifying of unusual transactions and the timely reporting to the FIU will be discussed during this training.

Topics

    The need to conduct an AML/CFT Risk Assessment

  • Having an AML/CFT Compliance Manual
  • Determination of risk profiles (Low, Standard (Medium) & High)
  • Customer Due Diligence (Simplified, Standard and Enhanced)
  • How do you implement this obligation practically within your organization when formulating policy, procedures and monitoring?
  • Client acceptance, in particularly Politically Exposed Persons (PEPs)
  • Identification and verification of the identity details of the client; which clients should you pay attention to?
  • Identification and verification of the ultimate beneficial owner
  • Identifying persons that are listed on sanction lists c.f. the Sanction State Decree Combat Terrorism and Financing Terrorism and other Sanction State Decrees (Aruba)
  • Identifying persons from jurisdictions which do not or insufficiently comply with internationally accepted standards for the prevention and combating of ML and TF (e.g. FATF recommendations)
  • Monitoring of the business relationship aimed at the risk profile of the client and, if applicable, into the Source of Funds/Wealth
  • Identifying of unusual transactions and the timely reporting to the FIU
  • The Role of the Money Laundering Compliance Officer (MLCO) & the Money Laundering Reporting Officer (MLRO)
  • AML/CFT Training Program

Target group

  • Real Estate Agents and Brokers

Level

There are no requirements for participation.

Duration of the training

The duration of the training is 4 hours.

Costs

Price: AWG 400,= incl. taxes

Costs includes:  Training sheets & Certificate of participation.

image_pdfimage_print