Know-How Legal Workflow
Anti-Money Laundering Workflows
Anti-Money Laundering Workflows
Thomson Reuters and AML/CFT expert lawyer Gary Hughes have partnered to produce this best practice workflow tool designed to explain in detail what lawyers need to do to meet the compliance requirements of the AML/CFT regime and its regulators.
Written by a lawyer to meet the needs of lawyers, Anti-Money Laundering Workflows is:
- The most comprehensive guide on the market for complying with Phase 2 of the AML/CFT regime!
- Written with the compliance officer in mind.
- A "must have" for all law firms and compliance officers who wish to ensure that they adopt a best practice approach to AML/CFT compliance.
Overview
In the Anti-Money Laundering Workflows modules, author Gary Hughes:
- Describes every major aspect of the AML/CFT regime.
- Advises lawyers on how to ensure that their AML/ CFT compliance documentation not only complies with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and regulations but will also withstand the scrutiny of the Department of Internal Affairs (the AML/CFT supervisor for lawyers in New Zealand).
What does each module provide?
Anti-Money Laundering Workflows equips lawyers and compliance officers with:
- The information they need to fully understand the AML/CFT regime.
- The steps that they need to take to be fully compliant with the regime.
- Advice and tips on drafting and structuring AML/ CFT documentation to show the AML/CFT supervisor that they have properly understood and engaged with the regime.
- Advice on traps to avoid when developing their AML/ CFT compliance programmes.
- Ways to ensure that law firms’ AML/CFT programmes are subjected to ongoing monitoring and constant quality control.
Benefit from detailed step-by step expert guidance on:
- The kinds of conduct that fall within the legal definition of financial crime, including within the definition of money laundering (ML) and terrorism financing (TF).
- The compliance requirements in the AML/CFT Act 2009.
- The responsibilities of AML/CFT compliance officers (AMLCOs).
- The nature and contents of AML/CFT risk assessments (RAs).
- Preparing the AML/CFT compliance programme (CP).
- Developing client due diligence (CDD) materials.
- Dealing with requirements for suspicious activity reports (SARs) and prescribed transaction reports (PTRs).
- Dealing with the AML/CFT supervisor.
- Ongoing review and AML/CFT audits.
- The AML/CFT enforcement process.
The modules
| MODULE | AVAILABLE |
|---|---|
| Introduction to AML Workflows | Now |
| Understanding the Key Features of the AML/CFT Regime | Now |
| Understanding Financial Crime — Money Laundering, Terrorism Financing and How it Affects Lawyers | Now |
| Responsibilities of the AML/CFT Compliance Officer | Now |
| Coverage of Captured Legal Services | Now |
| Risk Assessment | Now |
| Compliance Programme — Client Due Diligence | Now |
| Compliance Programme — Other Obligations | Now |
| Reporting of Prescribed Transactions and Suspicious Activities | Now |
| Dealing with Supervisor, Auditor, Reporting and Liability Issues | Now |
Watch AML/CFT expert Gary Hughes on what New Zealand law firms need to do to meet the compliance requirements of the regime and its regulators.
VIEW SAMPLE AML/CFT WORKFLOWS:
Who is Gary Hughes?
Gary is a senior lawyer providing advocacy, dispute resolution and strategic risk management advice, specialising in all types of regulatory investigations and cases. He is widely regarded as New Zealand’s leading AML/CFT lawyer, having advised/represented financial reporting entities (and lawyers) grappling with AML law in New Zealand since 2008 – and before that working on AML cases in London. Gary commenced practice as a barrister sole in 2016 and is now based at Britomart Chambers in Auckland. He was previously a partner at Wilson Harle (Auckland), and before that with Chapman Tripp (Auckland) and Clyde & Co (London).
