1.25 CPD hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

Description

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act) has been extended to include Lawyers, Conveyancers and Accountants.

Following the introductory webinar in April 2017, this updating session will be in two parts. The first part will cover a brief overview of:

  • The Money Laundering risks faced by Lawyers, Conveyancers and Accountants 
  • Red Flags and indicators of suspicious activity to look out for 

The second part of the webinar will focus on the practical aspects of the key compliance requirements under the AML/CFT Act, and will cover:

  • Appointment of an AML/CFT Compliance Officer 
  • Requirements for the documented Risk Assessment 
  • Requirements for the documented Compliance Programme 
  • Customer Due Diligence (CDD) requirements, which are the cornerstone of an effective AML/CFT regime but also an area of ongoing concern to the AML/CFT Supervisors. 
  • Requirements to monitor and review AML/CFT documents. 

The webinar will be applicable to all lawyers, conveyancers and accountants who provide the services that will bring them into the scope of the AML/CFT Act.

LEARNING OUTCOMES

Attendees will gain an understanding of:

  • The Money Laundering risks faced by Lawyers, Conveyancers and Accountants
  • Red Flags and indicators of suspicious activity to look out for
  • Key compliance requirements under the AML/CFT Act covering:
    • Appointment of an AML/CFT Compliance Officer
    • Requirements for the documented Risk Assessment
    • Requirements for the documented Compliance Programme
    • Customer Due Diligence (CDD) requirements
    • Requirements to monitor and review AML/CFT documents.

SUITED TO

All lawyers, conveyancers and accountants who provide the following services and have been captured by Phase II of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009:

  • acting as a formation agent of legal persons or arrangements.
  • acting as, or arranging for a person to act as, a nominee director or nominee shareholder or trustee in relation to legal persons or arrangements.
  • providing a registered office or a business address, a correspondence address, or an administrative address for a company, a partnership, or any other legal person or arrangement.
  • managing client funds, accounts, securities, or other assets.
  • providing conveyancing services (either yourself, or when you give instructions to someone else) to carry out a real estate transaction. providing services (either yourself, or when you give instructions to someone else) to:
    • carry out a real estate transaction (as defined in section 4 of the Real Estate Agents Act 2008).
    • carry out a transaction on behalf of any person in relation to the buying, transferring or selling of a business or legal person (for example, a company) and any other legal arrangement; or creating, operating, and managing a legal person and any other legal arrangement.
    • transfer a beneficial interest in land or other real property.

ORIGINAL BROADCAST DATE

18 October 2017

PRESENTER

Martyn Solomon, Associate Partner – Audit & Assurance, Crowe Horwath