Politically Exposed Persons Masterclass
Politically Exposed Persons (PEPs) pose various risks from a financial crime perspective due to their influential positions, access to public resources and the opportunity to abuse their power to commit corruption, ask or receive bribes, diversion of public property to fund terrorism and to launder the proceed of financial crime.
Financial institutions and businesses that have relationships with PEPs face regulatory compliance risks, including heightened due diligence requirements, enhanced reporting obligations, and potential enforcement actions for failure to adequately mitigate PEP-related risks. Non-compliance can result in reputational damage, fines, and legal sanctions.
Why take this course?
Delegates will learn sector-specific financial crime risks within gaming & gambling, gain a thorough understanding around key regulatory requirements and skills required to effectively identify and mitigate the financial crime risks. The course content, carefully designed by leading subject matter experts focused on fighting financial crime within the gaming & gambling sector, will offer invaluable insights into developing an effective risk-mitigating framework within the gaming sector.
A specialist training masterclass focused on understanding key risks associated PEP relationships, regulatory expectations around maintaining effective due diligence on PEPs and effective ongoing monitoring on PEP relationships to ensure that any risks are identified, assessed, and mitigated in line with the firm’s risk appetite and regulatory requirements.
- Compliance Officers
- AML Experts
- Money Laundering Reporting Officers
- Transactions Monitoring Specialists
- Screening & Alerts Handling Staff
- Regulatory guidance on PEPs
- Strategies to identify and manage PEP relationships
- Understanding different types of PEPs and associated risks
- PEP classification and appropriate due diligence
- Corroboration of source of wealth and source of funds
- Conducting effective risk assessment of PEP
- Adverse media (negative news) checks and impact assessment
- Unwrapping case studies and real-life examples
- Making swift yet correct decisions and record retention
- Reporting suspicious activity
Delegates of this masterclass shall be assessed through a multiple-choice test at the end of the training session. Upon successful completion of this masterclass, delegates will be awarded the Sigma Risk certification.
This masterclass may be delivered in person at client premises, at external location or virtually via Zoom or MS Teams.
Full Suite of Sigma Risk Masterclasses
• Understand applicable regulations
• Third party risk assessment
• Managing conflict of intrest
• Identify key AML risks
• Conduct AML risk assessment
• Build a robust methodology
- Correct level of due diligence
- Identification and verification
- Corroboration of source of wealth
- Learn about complexity & reliance
- Downstream banking and nesting
- Respondent risk assessment
- Preventing & recovering from a cyber attack
- Identify key threat actors
- Understand different types of cyber attacks
- Understand the risks in gaming
- Applicable regulatory requirements
- Proportionate risk assessment
• Understanding digital currencies
• Corroboration of SOF/SOW
• Financial crime risks
- Law enforcement collaboration
- Asset tracking and confiscation
- Suspicion activity reporting
- Recognize key sanctions regimes
- Establish screening & monitoring
- Escalations & reporting
- Attractiveness to Criminals
- Discover emerging typologies
- Identify red flags and warning signs
- Recognising key signs of terrorism funding
- Risk identification & mitigation techniques
- Learning from real-life case studies