A Capacity Building Programme
GFM has embarked on a capacity building programme due to a shortage MLRO and DMLRO in the industry.
MLROs and DMLROs plays an important role in the Anti-Money Laundering (AML) systems of a Company. The duties and responsibilities of the MLRO may comprise of serious legal consequences, which may result in unlawful action. As such, there is a need for well trained, competent, and experienced professionals to act as MLROs and DMLROs, as per the competency standards imposed by the FSC.
GFM with the support of HRDC and collaborating partners are introducing a Specialised Capacity Building programme designed for MLROs and Deputy MLROs through an MLRO Masterclass; a blended programme comprising of face to face and online training (STEP Certificate in AML).
The MLRO Masterclass is intended for an in-depth training on all aspects of prevention and detection of Money Laundering and Terrorist Financing, ensuring that MLROs and DMLROs are aligned with the AML/CFT guidelines and identifying red flags for Suspicious Transactions as per local laws and regulatory requirements.
A case-based approach will be adopted to familiarise participants with potential money laundering and terrorism financing threats in the domestic and international context, with Red flags-based typology of cases across the different sectors in Mauritius and internationally.
The training programme outline is as follows:
- National Regulatory Framework,
- Overview of Money Laundering, Terrorist Financing and Proliferation,
- Corporate Governance,
- Risk Based Approach,
- Customer Due Diligence,
- Enhanced Due Diligence,
- Simplified Due Diligence,
- Third Party Reliance,
- Monitoring Transactions and Activity,
- Reporting Suspicious Transactions,
- Record Keeping,
- Case studies
- Intervention by FSC and FIU
Mohamed Khan
Mohamed Khan, currently the Chief Executive of the Financial Services Institute and the former MD of the City Banking College in the UK, who successfully established and managed the exponential growth of the financial training institution for academic and professional qualifications in London. He was a founding member of Accountancy Tutors (now Kaplan) He is a self-starter with significant achievements and over 34 years of outstanding training experience in Banking, Legal, Accountancy and Management disciplines in over 15 countries. Industry Experts and representatives of regulatory bodies will also deliver specific sessions to the participants.
- 1. 2 days Face to face interaction,
- 2. Intervention by the Financial Intelligence Unit
- 3. Intervention by the Financial Services Commission
- 4. STEP Certificate in AML delivered by CLT International (with access to Online learning platform over 4-6 months)
- 5. Assessment of the programme (written exam),
- 6. Certificate on successful completion by STEP , FSI & GFM
The training programme is intended for those working in the financial services sector with a minimum of 3 years working experience.
The training will be offered at a subsidised rate of only Rs 12000 per participant based the collaboration with HRDC, which will be funding the programme upfront under the “Sectoral Skill Development Scheme” . As a result, participants will not be eligible to claim HRDC refund for this programme, minimising the administrative burden.
Date: Batch 1: 10 & 11 November 2020 Time : 09.00 to 17.00 hours Venue: Financial Services Institute, 8th Floor, SICOM Tower, Wall Street, Ebene.
