Financial Crime Legislation – Impact in the Industry

Session 1 – Presentation Sweeping changes in financial crime legislation over the past 15 years have caused the industry to change the way it does business. In this presentation we will consider changes in the main pieces of legislation ie Fraud Act 2006, Bribery Act 2010 and Proceeds of Crime Act 2002, assessing the impact these changes have made to the business of IFA’s, explaining some of the rationale behind making such changes. Given the work undertaken by IFA’s the presentation will concentrate on the provisions of the Proceeds of Crime Act 2002 and cover issues such as: Three main stages of money laundering ain money laundering offences Key concepts – criminal property, criminal conduct etc Offences related to Regulated Sector eg failing to disclose, tipping off etc Customer due diligence Risk assessment Politically Exposed Persons (PEP’s) Case study – PEP Delegates will be encouraged to ask questions and take notes of the main points of the session and their reflections on same, which can be retained by them to form their CPD evidence. Session 2 – Practical Exercise Delegates provided with a scenario whereby an application for new business is received by an IFA and progressed through various stages to a conclusion. Each stage will require a paper feed – one per delegate – on which the delegates will be expected to make notes on the decisions made and their justification which will form part of their auditable CPD evidence. Speaker: Bill Durrant and Mark Hewitt, Partner, Tandem Fraud Solutions Mark Hewitt Mark Hewitt has 30 years policing experience, most of which was spent investigating, supervising and directing financial crime investigations including fraud and money laundering. During his time on the police force he lead the London Regional Asset Recovery Team, which was tasked with the restraint, confiscation and seizure of criminal assets in the Greater London area. More recently Mark has delivered nationally recognised courses to specialist financial investigators with delegates from agencies such as the FCA, HMRC, Trading Standards as well as police staff and detectives and has wrote and delivered money laundering investigation training courses to both investigators and prosecutors. Bill Durrant Bill Durrant spent 30 years with the Metropolitan Police Service. The majority of this time he was employed at New Scotland Yard investigating fraud, financial crime and money laundering. Since leaving the Police Service, Bill has been involved in numerous international projects. He has been a representative of the National Police Improvement Agency (now College of Policing), delivering comprehensive training courses to law enforcement professionals on anti-corruption and money laundering, proceeds of crime, international asset tracing in organised crime, confiscation of criminal assets and other financial investigations. More recently Bill has written and presented a number of seminars to the regulated financial and E-Gaming sectors in the Isle of Man on Anti-Money Laundering. Bill and Mark are now both partners at TANDEM FRAUD SOLUTIONS provides practical, cost effective, convenient training to IFA’s which satisfies both industry and legislative requirements in the field of Anti-Money Laundering and Counter Terrorist Financing.