08:00 – 09:00
09:00 – 09:15
  • Tod Burwell
  • President and CEO
  • BAFT
  • Farid Huseynov
  • First Deputy CEO
  • Kapital Bank
  • 09:15 – 09:30
    Introduction/Workshop Overview
  • Bastien Collette
  • Director, Advisory & Consulting (AML/CTF),
  • Deloitte (Luxembourg)
  • Stacey Facter
  • Senior Vice President, Trade Products
  • BAFT
  • Emil Garayev
  • Director
  • Deloitte (Azerbaijan)
  • Rustam Mukhametshin
  • Director
  • Deloitte (Russia, Kazakhstan)
  • Learning objective:
    A workshop for transaction banking business and compliance personnel to understand important regulatory requirements and developments in combatting financial crime, with an emphasis on governance and accountability. This workshop will mainly focus on anti-money laundering and counter-terrorism financing, and will cover local and international perspectives.
    09:30 – 10:30
    Risk Based Approach and Adequate Internal Organization
    Learning Objective:
    The concept of a risk-based approach is a fundamental premise of AML regulation and of an appropriate AML/CTF framework. This session will focus on how a risk-based approach informs an AML/CTF framework, emphasizing the importance of depth of competence - an art as much as a science in order to do this well. This session will also explain the importance of having an adequate internal organization, including “3 lines of defense” to identify and mitigate customer risk.
    • A. How AML/CFT fits within the definition of financial crime
    • B. AML/CFT risk assessment
      • 1. Factors to consider when assessing client risk, scoring, ongoing monitoring
      • 2. Your organization’s/own risk appetite and de-risking
    • C. Adequate Internal Organization
    10:30 – 11:30
    Customer Due Diligence
    Learning objective:
    This session will help bankers and compliance personnel to understand the regulatory requirements regarding customer identification and due diligence.
    • A. Initial customer due diligence (AML/CTF and sanctions) – Counterparty on-boarding
    • B. Simplified due diligence, normal due diligence, and enhanced due diligence
    • C. Event driven and periodic refresh of information (on-going due diligence)
    • D. Beneficial ownership
    • E. Source of funds and source of wealth
    • F. Special concerns
      • 1. Trade based money laundering
      • 2. Bribery and corruption (PEPs)
      • 3. Shell companies and tax evasion
      • 4. Bearer shares
    11:30 – 11:45
    Networking Coffee Break
    11:45 – 13:00
    Ongoing Monitoring of the Business Relationship (Transaction Monitoring, Transaction Filtering and Name Screening)
    Learning objective:
    This session will explain recent developments in governance and optimization of automated transaction monitoring systems for both AML/CFT and sanctions compliance, as well as the importance of the client name screening.
    • A. Governance of your automated system
    • B. Optimization – a combination of systems, processes and people
    • C. Detection scenarios and case studies
    13:00 – 14:00
    Networking Lunch
    14:00 – 15:00
    Correspondent Banking and Trade Finance
    Learning objective:
    This session will describe current international standards (FATF) and supervisory expectations (BCBS) for correspondent banking and how correspondents and respondents can meet these expectations in an efficient and cost effective way.
    • A. customer due diligence and risk rating
      • 1. Initial
      • 2. Event driven and periodic refresh
      • 3. When do you have to know your customer’s customer?
    • B. Transaction monitoring – transparency in payments
    • C. Restricting or closing an account
    15:00 – 15:15
    Networking Coffee Break
    15:15 – 15:45
    BAFT Combating Trade Based Money Laundering: Rethinking the Approach
    Learning objective:
    Review of BAFT’s recently released paper that proposes alternative, collaborative approaches to solving the problem of trade based money laundering by increasing the public and private sector partnership.
    15:45 – 16:45
    Learning objective:
    This session will explain the evolution of economic sanctions programs, which have become more complex over time, and offer strategies to protect against inadvertent and deliberate evasions of sanctions regime requirements, as well as consider controls to mitigate the risk of sanctions breaches.
    • A. Comprehensive sanctions, SDNs and sectoral sanctions
    • B. EU v. US sanctions against Russia
    • C. Sanctions – a note about trans-shipment
    • D. Governance and controls
      • 1. Training and awareness
      • 2. Testing
      • 3. Accountability
    Wrap Up/Closing Remarks