What is the content of the training?

The training thoroughly covers what money laundering and terrorist financing mean, what a risk-based approach is, and the requirements set by the Money Laundering Act for reporting obligations. The training goes over the different risk levels of the requirements related to knowing your customer, as well as the duty of enhanced familiarity, what should be done in situations where money laundering or terrorist financing is suspected and how internal guidance should be handled within the company.

The training answers, among other things, the following questions:

• What does money laundering and terrorist financing mean?
• How is money laundering and the prevention of terrorist financing regulated?
• When is a company obliged to report under the Money Laundering Act?
• What is the money laundering risk assessment and what is its purpose?
• What should the risk assessment contain and how are risks assessed?
• What does knowing the customer and risk-based assessment mean?
• What is the difference between knowing, identifying and authenticating the customer?
• What information about the customer should be collected, when should the information be updated and how should it be stored?
• How should continuous monitoring be carried out and what does it mean?
• What are the different levels of knowing the customer?
• What does the obligation to report a suspicious transaction mean?
• When should the transaction be suspended or when should it be refused?
• What does beneficiary owner mean and what are the requirements?
• How is the supervision related to money laundering and terrorist financing and reporting obligations carried out?
• What kind of sanctions can follow for the reporting party?
• How should employees be trained and what operating instructions should the reporting party have?
• How should personnel be protected?
• Who in the company is responsible for compliance with the Money Laundering Act?

What do you learn from the training?

After the training, you will know the requirements set by the Money Laundering Act and how the obligations set by the law are implemented. You will also learn what mandatory actions need to be taken and when the customer's operating methods should be enhanced. You understand the big picture, the necessary documentation, and you know how to apply the things you have learned in practice in customer meetings and in the development of personnel skills.

Who is the training suitable for?

The training is designed for managers, supervisors and all personnel of reporting companies, regardless of the person's role and the company's industry.

How can training be organized and what does it cost?

You can order the training to be held at your company's location. The training can also be organized remotely as a Teams meeting or in a space organized by Folks.

The price of the training is agreed on a case-by-case basis with each customer, taking into account, among other things, the scope and duration of the training and the number of participants in the training. For example, a three-hour training in the capital region without restrictions on the number of participants is 1,300 euros (+ VAT 24%). The price of the training includes the electronic material to be distributed to the participants.