Course description
Art market participants have been subject to the stringent Money Laundering Regulations since 10 January 2020, courtesy of The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.
This webinar will ensure businesses and individuals in the art sector are up to speed on the relevant money laundering legislation and understand how to practically approach their AML obligations so that they are fully compliant and not at risk of regulatory action or even criminal prosecution. It will include some practical case studies to help spot suspicious activity and how to deal with it.
Presenters Nicola Finnerty and Gemma Tombs of Kingsley Napley LLP have a wealth of experience in this area and will bring you up to speed with everything you need to know in just 1 hour.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Art market participants have been subject to the stringent Money Laundering Regulations since 10 January 2020, courtesy of The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.
This webinar will ensure businesses and individuals in the art sector are up to speed on the relevant money laundering legislation and understand how to practically approach their AML obligations so that they are fully compliant and not at risk of regulatory action or even criminal prosecution.
What You Will Learn
This webinar will cover the following:
- What is an ‘art market participant’ for the purposes of the Money Laundering Regulations
- An outline of the legal framework as contained in the Proceeds of Crime Act 2002 and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, including:
- The primary money laundering offences which may be committed by anyone in the gambling sector
- The offences which apply to art market participants by virtue of their regulated status
- Submission of Suspicious Activity Reports (SARs) to the NCA
- The risk-based approach of the Money Laundering Regulations including the importance of business-wide and customer specific risk assessments, properly considered policies and procedures and thorough due diligence
- Industry guidance and recent updates
- Some practical case studies to help spot suspicious activity and how to deal with it
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...