Money
Laundering in Commercial Concerns
Assessing and Managing Legal, Regulatory and
Commercial Risk
why it's not just banks that
need to act!
August
2-3 2004 w
Holiday Villa, Subang Jaya |
Led
by
Nigel
Morris-Cotterill
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Internationally
Recognised Counter-Money Laundering Strategist
with more than a quarter century's experience
in tracing proceeds of financial fraud.
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The
First Expert appointed in Malaysia to interpret
the Anti-Money Laundering Act 2001 for Malaysian
Bankers.
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Founder
- The Anti Money Laundering Network, worldwide.
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Author:
"How Not to be a Money Launderer -
The Avoidance of Fraud and Money Laundering
in Your Organisation" & the forthcoming
"The Counter-Money Laundering Laws
of South East Asia."
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Editor
- World Money Laundering Report.
NOT
TO BE MISSED! REGISTER NOW!
Nigel Morris-Cotterill's Unique Experience and
Piercing Insights into the problems of Money Laundering.
Senior executives should listen to what he has
to say. He should be compulsory listening. |
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Another
World-Class Seminar brought to you by
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As
it gets more difficult for criminals to offload
their money in banks or financial institutions
- an ordinary, simple and legitimate business
organisation can often find itself a victim
of money laundering schemes."
Nigel Morris-Cotterill
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Scale
of the crime
The International Monetary Fund has estimated
the global volume of money laundering in 2001
to be between US$1.6 to US$1.8 billion. (about
2% to 5% of the world's GDP).
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WHAT
IS MONEY LAUNDERING?
Money laundering is organised crime's way
of trying to disprove the adage that "crime
doesn't pay." It involves hiding the
proceeds of criminal or illegitimate activities
such as drug trafficking, prostitution, gambling,
funding terrorism, illegal arms sales, smuggling,
financial embezzlement, insider trading, bribery,
tax evasion and fraud schemes. The biggest
amounts, probably hundreds of millions of
dollars each year, stem from the global narcotics
trade and counterfeiting of a wide range of
products especially in South East Asia.
Money
laundering encompasses the act of a person
who:
- Engages
directly or indirectly, in a transaction
that involves proceeds of any unlawful activity.
- Acquires,
receives, possesses, disguises, transfers,
converts, exchanges, carries, disposes,uses,
removes from or brings into Malaysia proceeds
of any unlawful activity, or
- Conceals,
disguises or impedes the establishment of
the true nature, origin, location, movement,
disposition, title of, rights with respect
to, or ownership of, proceeds of any unlawful
activity.
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NOW
MORE PERILOUS THAN EVER!
Fighting financial crime is not an optional
activity. Recent attention by the government,
regulators and the press has highlighted the
need for business leaders to be proactive
in combating financial crime. Even more worrying
is the increasing number of cases where directors,
officers and senior managers are being held
personally liable for both direct and consequential
losses incurred as a result of fraud. The
Anti-Money Laundering Act 2001, new legislation
and government powers have dramatically
increased the risks for you, your organization,
customers and correspondent institutions.
Abroad, actions by shareholders arising from
perceived loss of shareholder value is increasing
risks for a wide range of businesses.
No
organisation is immune from these legal requirements
or exempt from enhanced scrutiny. Laws are
making directors responsible for the actions
of their companies, and denying the right
to say "we didn't know that was happening
in our company" as a defence. Violations
can yield severe consequences - including
fines, forfeitures, prosecution or jail. Reputational
harm can be devastating. As trade-based money
laundering becomes more attractive to launderers,
systems designed to protect the organisation
against fraud must now be implemented or updated
to protect against money laundering.
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2-DAYS
OF STIMULATING, THOUGHT PROVOKING LEARNING
This programme will equip
you with spot-on information and know-how on
money laundering - how it can be detected and
deterred and the abuse of accounts held with
ordinary trading and manufacturing companies.
It will focus on how non-financial service businesses
are victims of money laundering schemes, highlight
legal problems and identify stress points within
the organisation. |
WHY
IT'S IMPERATIVE THAT YOU ATTEND
Businesses often complain that the regulatory
burden imposed causes expense and disruption.
What they do not realise is that regulatory
regime, properly applied, actually protects
them against the risk of criminals using their
businesses for money laundering with the attendant
risk to their business and even, criminal prosecution.
- Your business
is subject to AMLA since 15 January 2002.
- If your
business launders money, even accidentally,
the business - its officers and staff risk
prosecution under AMLA 2001 as amended.
- In addition
to the risk of prosecution, there is the
risk of regulatory proceedings.
- You want
to be compliant, a good corporate citizen
and reduce opportunities for money laundering.
- You operate
in an international environment where foreign
laws apply to your business.
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WHAT YOU
WILL LEARN
- Examine
methods money launderers use to involve
commercial concerns in their business activities.
- Obligations
placed on your bankers, stockbrokers and
advisers in their business relationship
with you.
- What domestic
law applies to your company and the penalties
for breach.
- How foreign
law can have an impact on your ability to
trade both domestically and internationally.
- Why money
launderers are increasing their use of commercial
concerns.
- How to identify
suspicious transactions.
- Your AMLA
obligations.
- Why you
should consider implementing a compliance
system even though there is no legal obligation
to do so.
- Essential
elements of a compliance system.
- Issues in
designing and implementing a compliance
system.
- Reducing
the risk of money laundering and prosecution.
SPECIAL
PROGRAM FEATURE
You will work in groups to produce a draft
outline of a
Money Laundering Risk Manual that you
can build on to help protect your company.
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PRIME
IMPORTANCE AND BENEFIT TO:
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- Company
Presidents & CEOs
- Company
Directors
- General
Managers
- Financial
Directors
- Company
Secretaries
- Auditors
and Heads of Internal Audit
- Treasurers
& Controllers
- Compliance
Officers
- Accountants
- Corporate
Security Directors
- Internal
& External Attorneys
- Risk Managers
- Regulators
- Bankers
& Financiers
- Businessmen
& Entrepreneurs
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Day
One
OUR BUSINESS
DEPENDS ON MONEY: DO WE KNOW WHAT IT IS?
- Defining
money for the purposes of counter-money
laundering laws
- Defining
money laundering
- How does
dirty money move around the world?
THIS ONLY
APPLIES TO BANKS, RIGHT?
- Why money
launderers are targeting commercial and
trading concerns
- How money
laundering laws within AND outside Malaysia
impact directly on your business
- How money
laundering laws impact indirectly on your
business
WAR STORIES:
HOW MONEY LAUNDERERS HAVE BEEN USING
COMMERCIAL BUSINESSES
- Why you
should consider developing your own anti-money
laundering system.
- What to
do if you suspect that a customer or supplier
is trying to use your business for laundering
- What to
do if an investigation is commenced
Day
Two
DEVELOPING
AN ANTI MONEY LAUNDERING SYSTEM
- Examining
the basic elements
- Identifying
risk areas in your business
- Identifying
the stress points for designing a system
RECONCILING
STRESSES
FITTING
THE SYSTEM WITHIN YOUR BUSINESS
WORKSHOP:
A case study will be presented and participants
will work in teams to draft a model risk assessment
and an outline procedures manual.
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R
E G I S T R A T I O N D E T A I
L S |
Program
Details
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Money
Laundering in Commercial Concerns
Assessing and Managing Legal, Regulatory and
Commercial Risk
why it's not just banks that
need to act!
- August
2-3, 2004
- 9am-6pm
daily
- Holiday
Villa Subang Jaya, Selangor DE.
Your
Investment
RM2,250 for the first delegate.
RM1,750 for the second delegate or more from
the same company.
(a huge RM500
savings per delegate on the
2nd registration onwards!)
Fee is inclusive of programme manual, lunches
and refreshments.
Early
bird Incentive
Take 10% OFF the total fee payable. Register
and pay by 26 June 2004.
Team
Attendance Highly Recommended
This is to facilitate successful implementation
of the knowledge acquired from the program.
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Reservations |
Reservations
can be made by telephone, fax or e-mail. Registration
is confirmed on receipt of the registration
form and payment cleared before the program
date. If unable to do so due to government policy
or company procedure, please advise late payment
in writing.
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Cancellations
Policy |
Full
refund for written notice received 2 weeks before
program. A 25% cancellations fee will be levied
for late cancellations. No refund for cancellations
received after 26 July 2004. Substitutions are
allowed.
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HRD
Council: SBL Scheme |
Organizations
contributing to the HRD Fund may claim 100% of
the approved training program fee. Please apply
through your HR Department at least 14 days in
advance of the program to expedite approval from
HRDF. RAYMA will be pleased to assist in this
process upon request.
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RAYMA
Guarantee |
Full
refund if we do not deliver what we promise. Just
turn in your workbook at the end of the program |
We
come to you |
In-Company
Customised Learning Solutions. Need to develope
entire teams? All our public programs, based on
best practices, can be developed in partnership
with you to meet your organization's specific
requirements. |
Registration
& Enquiries |
RAYMA
Sdn Bhd
2B Jalan SS24/13, Taman Megah,
47301
Petaling Jaya,
Selangor Darul Ehsan, Malaysia
Tel: +60 3 7804 4666/777/888
Fax:+60 3 7804 4484
Email : seminars@rayma.com.my
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