Course description
Chinese investment into the UK economy this year is estimated to amount to £135 billion. Whilst China is not on the UK’s list of high-risk countries for money laundering and terrorist financing, many finance professionals exercise caution when transactions involve funds from China.
Jo Morris and Anita Clifford present this live and interactive broadcast which focuses on how Chinese funds can raise specific anti-money laundering and customer due diligence issues which are essential to understand. It will cover the UK’s last published National Risk Assessment with regards to informal banking systems used to move money out of China, the common misconceptions when dealing with Chinese investors, and more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
In 2021, Chinese investment into the United Kingdom is estimated at £135 billion. Although China is not on the UK’s list of high-risk countries for money laundering and terrorist financing, in practice caution is frequently exercised when transactions involve funds from China.
The UK’s last published National Risk Assessment draws attention to the money laundering risk that can arise when an informal banking system is used to move money out of China with the effect being that strict currency controls in place in China are sidestepped. For those in regulated practice, from lawyers to estate agents, this can raise a money laundering concern and trigger the reporting obligation.
Co-presented by Anita Clifford and Jo Morris, this virtual classroom seminar focuses on how Chinese funds can raise specific anti-money laundering and customer due diligence issues which are essential to understand.
What You Will Learn
This live and interactive session will cover the following:
- The different ways a money laundering concern can arise when a transaction involves money from China
- Common misconceptions when dealing with Chinese investors, including how the absence of currency controls in the UK does not mean that there is no money laundering concern
- The approach to customer due diligence, including best practice for source of funds checks
- The reporting obligation and how it can be triggered when a funds concern arises
- Case studies involving Chinese funds, with plenty of opportunity for Q & A
Expenses
MBL Seminars Limited
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