Before developing its AML programme, each reporting entity is required to undertake a risk assessment to identify the particular ways that their business or practice may be susceptible to money laundering and the financing of terrorism.
While there will be commonality of risk among many legal practices, fundamentally no two practices are the same, and to date the supervisors have stressed the importance of ensuring that risk assessments are sufficiently particularised to each individual reporting entity’s business, taking into account their client (customer) base and range of services.
- Understand better what the supervisor’s expectations are likely to be in respect of risk assessments and what the purpose and minimum requirements of a risk assessment are.
- Learn more about the different approaches to risk assessments that may be taken, who should be preparing them as well as the national and sector risk assessment guidance.
- Gain insights into how to evaluate and rate a practice’s risks, the advantages and disadvantages of outsourcing the risk assessment process as well as practical ways to ensure assessments remain current as per legislative requirements, and how deficiencies may be identified and addressed.
Who should view?
Given the scope of the legislation, this seminar will be relevant to almost all lawyers in practice but it will be of particular importance to senior partners, practice managers and AML Compliance Managers who will be responsible for developing and maintaining the compliance programme.
Access details will be delivered via email within 15 minutes.
Also available On Demand
The AML/CFT Toolkit Series I: Composite Package [all four sessions] (save 13%)
The AML/CFT Toolkit Series: (1)
The Role of the Compliance Officer
The AML/CFT Toolkit Series I: (3) Customer Due Diligence
The AML/CFT Toolkit Series I: (4) Compliance Programmes
Barrister and Solicitor
Fiona Hall, who recently spoke at the AML Solutions AML/CFT Summit in Auckland, is a barrister and solicitor specialising in AML/CFT, consumer credit and privacy law. After her admission to the bar in 1987, Fiona initially practised general commercial litigation and banking law at large law firms in both Auckland and London, before moving in-house. Her in-house counsel roles covered a number of credit and credit related businesses as well as for a government regulator.
Fiona has acted as the head of compliance and both privacy and AML officer in conjunction with her legal roles. She has developed and implemented a number of AML/CFT programmes and was an invited speaker at the annual NZ Police FIU AML/CFT conference in 2015.