Local experts combine for key AML training session: Includes updates to Cayman’s anti-money laundering framework over past 12 months

Local experts combine for key AML training session: Includes updates to Cayman’s anti-money laundering framework over past 12 months

November 6, 2020
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Two of the country’s best-known experts on the Cayman Islands’ anti-money laundering framework have united to offer a refresher training session for the local compliance and risk management industry, Thursday, 25th November, 9am to 12:30pm.

Ms Angele Mele, Founder of RiskPass AML+Compliance Ltd. and Mr Paul Byles, Director of FTS, are former regulators of the Cayman Islands Monetary Authority (CIMA) and have worked in the compliance and risk management sector for the past 15 years. This key training session offers the rare opportunity for attendees to learn from both speakers on the various changes to the country’s anti-money laundering regime.

“The purpose of the session is not only to provide an overview of recent legislative and regulatory updates but also to identify the changes that local compliance experts and directors need to incorporate into their existing systems, to be compliant,” Paul Byles, Director of FTS and organiser of the seminar said.  

Ms Mele will present on the topics of ‘Proliferation Financing’ and ‘Extensions to the Risk-based Approach,’ while Mr Byles will address ‘Targeted Financial Sanctions’ and ‘Transaction Monitoring.’ The seminar will be held on the Zoom platform and will include two breakout sessions and an online test. Attendees will receive a certificate of completion.

“We thought it would be timely to hold a session focusing on material updates since late 2019 and outline how these changes can be added into an existing framework,” Ms Mele said.

Mr Byles said that while some local professionals will be aware of the changes, it’s not always the case that they have incorporated necessary updates into their existing systems and procedures.

“Being aware of the changes and getting to the stage where you have fully incorporated them are two very different things,” he said. “The approach taken with this training session is to pinpoint the areas where changes need to be made and explore how these changes can be incorporated. I am hoping this is where we will be able to add value for compliance professionals.”

The session will be carried out via Zoom on Thursday, November 25th, from 9am to 12:30pm. Persons can sign up at www.ftscayman.com./events.