The Anti Money Laundering Regulation (AML) combined with the General Data Protection Regulation (GDPR), US FATCA and OECD CRS

Brief description

The European Union Fourth Anti-Money Laundering Directive is the most sweeping AML legislation in Europe in several years. On 25 June 2015, the EU Fourth Directive was enacted, which replaces the previous Third Directive. With a two-year window for implementation, all EU member states must be compliant with the new mandates by 26 June 2017.

In 2016, the European Union General Data Protection Regulation (GDPR) (effective on 25 May 2018) was also adopted to replace the Directive 95/46/EC to implement a legally binding regulation that will be considered the EU data protection law.

FATCA was enacted in 2010 and seeks to identify U.S. taxpayers having accounts at Foreign Financial Institutions (FFIs) and attempts to enforce reporting of those accounts through withholding. The Common Reporting Standard (“CRS”) is the standard for automatic exchange of financial account information (“AEOI”) developed by the OECD.

The main objective of our workshop will be to provide participants with an update on what were the main provisions of the above regulations, to present and analyze their impact and to help participants gain an overall understanding and discuss what lies ahead, through the use of practical examples and by demonstrating the effects on various companies.

Our course is eligible for 7 CPD Credits.
 

Who should attend the course?

The seminar is addressed and will be highly useful, beneficial and add value to Regulators, Compliance Officers, Compliance Advisors, Administrators dealing with KYC and Customer Due Diligence, Members of Boards of Directors or any other person interested in the provisions of AML, GDPR, FATCA and CRS services for obliged Entities.

Obliged Entities:

• Financial and Credit Institutions being Banks, Insurance Agents, Investment Firms, Forex Entities, etc.
• Professionals such as Lawyers, Notary and other legal professionals subject to constraints
• Auditors, External Accountants, Tax advisors
• Trust or Company service providers
• Real estate agents
• Casinos and Gambling Services Providers
• Other persons trading in goods with cash transactions over 10K Euro (Previously 15K)
• Next Year also (5^th AMLD): Custodian Wallet providers & Virtual Currency Exchange Platforms

Programme