AML Forensics - Money Laundering Challenges and Detection
About This Course
This one day course provides a more in-depth and interactive approach to understand money laundering under the regulation and enforcement in the digital age. With global online transactions on the astronomical rise, there will be challenges for detection of money laundering and this will be addressed with actual case studies. It will expand on these challenges and take into both internal and external considerations, including future development in AML regulations and compliance to develop a robust system of approach to minimise detection risks.
Who Should Attend
- Financial advisers
- Relationship manager
- Private banker
- Client on-boarding specialists
- AML compliance officers
Perceptions and Issues of Money Laundering today
- Key perceptions of money laundering in digital age
- Structures of money laundering modulus operandi
- Global enforcement and action plans against money laundering
- Current case studies of global money laundering schemes
Anti-Money Laundering regulations and enforcement
- AML Laws Under The Corruption, Drug Trafficking & Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”).
- List of predicate offences (including tax offences)
- Suspicious Transaction Reporting regulation
- Tipping-off offence
- CFT Laws Under The Terrorism (Suppression of Financing) Act 2002 (“TSOFA”)
Challenges of money laundering detection
- Challenges in performing CDD on beneficial owners
- Challenges for confirming tax residency of individuals/corporations
- Challenges of detecting nominee structures/representatives
- Detecting inconsistencies on sources of funds in corporate structures
Red flags and other detection considerations
- Key Customer Due Diligence (CDD) principles
- Risk-based approach CDD - simplified CDD and enhanced CDD
- Profiling of customer structure, behaviour and identification
- Detecting suspicious transactions
Future of AML regulation and compliance
- Development of substance based compliance as part of AML program
- Merging of global tax initiatives and AML action plans
- Essential trainings for the future-ready compliance team and work process
CA, FCCA, SIATP
Khyron Goh (Kai) is the co-founder of Kaiden Group. He heads the Tax and Anti-Money Laundering cum Counter-Financing of Terrorism (AML/CFT) compliance department. He specializes in tax advisory for the high net-worth individuals and tax planning in Southeast Asia region for over 10 years. He also advises on the AML/CFT and CRS compliance for banks and corporate clients.
Kai started out as an Auditor at Ernst and Young before he joined a Trust Company as part of a senior management team where he headed three areas for high net worth clients in Accounting, Tax and Compliance. During his tenure, he developed a holistic range of accounting and tax services, to cater to his clients’ needs.
Kai has a passion for education and has more than 15 years of experience in imparting knowledge in the areas of tax and compliance. His previous teaching experience includes lecturing international professional accounting programs. He has also lectured UK tax for the University of Bedfordshire. Kai was also previously a lead lecturer at SAISCA (The Singapore Association of the Institute of Chartered Secretaries and Administrators), teaching Singapore Taxation for its ISCA Professional Qualification.
Currently, Kai is a very much sought after speaker by many private banks and various other private wealth institutions. Being an actual practitioner, he is able to utilize up-to-date actual case studies in his delivery to his audience.
Kai holds a degree in Applied Accounting, diploma in Anti-Money Laundering from the Institute of Compliance Association International (ICA) and Accredited Tax Advisor qualification with the Singapore Tax academy (SIATP). He is also a Chartered Accountant of Singapore (CA), Chartered Accountant of ASEAN (ASEAN CPA) and a fellow member (FCCA) for the Association of Chartered Certified Accountants (ACCA).
The Financial Training Scheme (“FTS”)
The Financial Training Scheme (“FTS”) is a training incentive scheme supported by the Financial Sector Development Fund (FSDF). The scheme supports financial sector-specific training programmes that raise the competency of the financial sector.
All our programmes are approved for listing on the Financial Training Scheme (FTS) Programme Directory and are eligible for FTS claims, subject to all eligibility criteria being met. For latest development on the Enhanced Funding Support for IBF FTS, please visit the Financial Training Scheme site.
Early Bird Discount
Enjoy 10% early bird discount when you register one (1) month before the course commencement date.