Prosecution Cases and Latest Update on Anti-Money Laundering
With the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018 came into effect on 1 March 2018 to extend the statutory CDD and record-keeping requirements to cover designated non-financial businesses and professions (viz. legal professionals, accounting professionals, estate agents, and trust or company service providers (“TCSPs”)), lawyers, accountants, banks and insurance company will be required to conduct customer due diligence and record keeping when carrying out particular transactions for clients. Failure to comply with the requirements may be result in disciplinary action being taken.
This course aims to help those in non-financial businesses and professions to get well-prepared for the requirements with essential knowledge about financial and "white-collar" crimes, as well as latest AML methods relevant to the professional practices.
1. Global Financial Crimes and White Collar Crimes
- Roles of Professional Accountants, Auditors, Lawyers and Other Gatekeepers
2. Common Fraud Schemes
- Ponzi Fraud / Pyramid Scheme
- Tax Evasion vs. Tax Avoidance
- Securities and Insurance Fraud
- Financial Statements Fraud
3. Stages and methods of Money Laundering (ML)
- Stages of money laundering cycles
- Banks and Financial Institutions
- Retail corporates
- Food, hotels, telecommunications
- Real Estate Agents
- Legal and Accounting Professions
4. Latest Financial Crimes / Anti-Money Laundering Regulations
- “Risk-based” approach
- Beneficial ownership registers
- Identifying trusts and companies
- Due Diligence Process
- Red flats
- Making Suspicious Transaction Reports
5. Detection and Prevention of Financial Crime / Fraud
- Suspicious Employee Behaviour
- Suspicious Customer Activities
6. Financial Crime Investigation: How to handle Investigation Process?
- Responding to Law Enforcement Agencies
- Conducting Internal Investigations
7. Court Cases studies
- Recent cases in Hong Kong Courts
- Enforcement updates
Who should attend
All individuals, especially those in non-financial businesses and professions, who are interested in the topics covered in this course.
Before Mr. So joined the legal profession, he had been one of the team members of a financial regulatory authority, responsible for conducting criminal investigation, handling litigation and disciplinary-related professional proceedings. Throughout his professional time as a regulator, he had personally handled over 800 financial disputes and their relevant litigations.