Angela Mele, founder of RiskPass AML+Compliance Ltd. and Paul Byles, director of FTS, will present an anti-money laundering refresher training session this month for the local compliance and risk-management industry.
Both are former regulators of the Cayman Islands Monetary Authority and have worked in the compliance and risk-management sector for the past 15 years.
“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,” Byles, the organiser of the seminar, said.
Mele will speak on the topics of ‘Proliferation Financing’ and ‘Extensions to the Risk-based Approach,’ while Byles will address ‘Targeted Financial Sanctions’ and ‘Transaction Monitoring.’
The seminar, set for Thursday, 25 Nov., from 9am to 12:30pm. will be held via Zoom and include two breakout sessions and an online test. Attendees will receive a certificate of completion.
Mele said, “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.”
Byles added that while some local professionals will be aware of the changes, it is not always the case that they have incorporated necessary updates into their 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.”
To sign up for the seminar, which costs US$150, visit www.ftscayman.com./events.