Bankers: Money-Laundering, Reporting Obligations and the New Criminal Finan

Date: 04-Apr-17 to 04-Apr-17
Location: Online Webinar / Fremont / United States
Category: Education Conferences & Trade Fairs

The Criminal Finances Bill was introduced to the UK House of Commons on 13 October 2016. It will significantly improve the government's ability to: tackle money laundering and corruption, recover the proceeds of crime and counter terrorist financing.

In October 2015, the national risk assessment identified and assessed the money laundering and terrorist financing risks faced by the UK. It focused on 3 priorities: 1. A more robust law enforcement response 2. Reforming the supervisory regime 3. Increasing the UK's international reach

Objectives of the Presentation
New powers and safeguards
Improve the UK capability to recover the proceeds of crime, including international corruption
Transforming the relationship between public and private sectors
Enhancing the UK law enforcement response
Combating the financing of terrorism

Why Should you Attend
The bill is a key element of one of the most significant changes to our anti-money laundering and terrorist finance regime in over a decade. It is part of a wider package of measures aimed at strengthening the government's response to money laundering and improving the amount of criminal assets confiscated by the state (and, where possible, returned to victims). This includes:
Improving the effectiveness of the supervisory regimes for the regulated sector
Reforming the Suspicious Activity Report (SARs) regime, including investment in systems and processes to complement the legislation
A cross-government action plan on asset recovery
Increasing our international reach through events like the Anti-Corruption Summit in May 2016 to build capacity with overseas partners, reflecting the global nature of this issue

Areas Covered
The facets for the Criminal Finances Bill
The Criminal Finances Bill
Unexplained wealth orders
Disclosure orders
Power to obtain further information and extend the SARs moratorium period
Information sharing
Seizure powers.

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