A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone. The document provides an overview of anti-money laundering legislation, requirements, and reporting procedures for accountants and other designated persons. It discusses customer due diligence, applying a risk-based approach, internal systems and controls, training staff, and making reports of suspicious transactions to the proper authorities.
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In this 1 Hour Online CPD Course Conor Sweeny of OmniPro provides a comprehensive overview of the Company Law issues in relation to Changing the Share Capital of a Company.
Preparing Your Practice For a Monitoring VisitMicheal O'Neill
One of the biggest challenges facing any accountancy practice is getting the balance between profitability, client service and regulation. The monitoring visit process pushes accountancy practices to maintain high standards and ensure compliance with the relevant regulations. This 1 Hour Online CPD Course looks at the practicalities and issues facing accountants in successfully preparing their practice for the inevitable monitoring visit.
In this 1 Hour Online CPD Course Conor Sweeny of OmniPro provides a comprehensive overview of the Company Law issues in relation to Changing the Share Capital of a Company.
In this 2 Hour Online CPD Course Liam Grimes discusses some of the key issues pertaining to Revenue Audits – The selection process, audit practices, audit settlement as well as a detailed review of Revenue Powers. Liam also provides an overview of Budget 2012.
A 60-minute webinar presented by Core Compliance & Legal Services and sponsored by LiveOffice.
Once You Archive Email, What's Next?
When it comes to email compliance, preparedness is key.
View this crash course in email compliance, and find out what else you need to know to protect yourself and your business.
You'll learn:
- What you are required to do after you capture electronic data
- What SEC and FINRA rules apply to email
- What types of communications require email supervision and more
Dodd-Frank Compliance and Technology Summer Meeting 2013Jeffrey C.Y. Li
Atlas Communications Technology recently co-sponsored the Dodd-Frank Compliance and Technology Summer Meeting. The presentation was an introduction to the complexities of the Dodd-Frank Wall Street Reform and Consumer Protection Act, what firms need to do to bring themselves into compliance, and the technology that can help enterprises meet the stringent demands of the act.
For more information about this conference, or to learn about our Fall meeting in September featuring one of the authors of the act, Congressman Jim Himes, please call 1-855-Dodd Frank (1-855-363-3372) for any questions, or if you wish to talk to one of our presenters today to talk about taking the next steps towards Dodd-Frank Compliance
Atlas Presentation 2013 07-09 dodd-frank summer meeting v1-0 (for online)
The financing of the international trade of goods — and the underwriting thereof — implicate a many-staged process of manufacture, storage, movement, delivery, inspection, and vending. The parties involved are many. The documentation of rights and responsibilities used to fill a small library of paper, and now involves paper, electronic communication, and some digital information transfer. Many points of delay and potential contention persist. Can blockchain clean this up? What other technological developments are reshaping trade finance?
Part of the webinar series: Blockchain Basics 2022
See more at https://www.financialpoise.com/webinars/
Plymouth - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Review by the Office of the Director of Corporate Enforcement (ODCE)Micheal O'Neill
Kevin Prendergast the Corporate Compliance Manager of ODCE provides a detailed review of the Office of the Director of Corporate Enforcement’s current and future focus as well as recent changes in Company Law, developments in Auditor Regulation and the forthcoming Companies Reform and Consolidation Act.
The financing of the international trade of goods — and the underwriting thereof — implicate a many-staged process of manufacture, storage, movement, delivery, inspection, and vending. The parties involved are many. The documentation of rights and responsibilities used to fill a small library of paper, and now involves paper, electronic communication, and some digital information transfer. Many points of delay and potential contention persist. Can blockchain clean this up? What other technological developments are reshaping trade finance?
Part of the webinar series: Blockchain Basics 2021
See more at https://www.financialpoise.com/webinars/
This 2 Hour Online CPD Course examines the main provisions in a Shareholder agreement, the pitfalls and what advisors need to watch for when guiding clients through the process. Presented by Alan O’Driscoll of Flynn O’Driscoll Business Lawyers gain insights into the creation, implementation and resolution of disputes arising from Shareholders Agreements.
In this 2 Hour Online CPD Course Liam Grimes discusses some of the key issues pertaining to Revenue Audits – The selection process, audit practices, audit settlement as well as a detailed review of Revenue Powers. Liam also provides an overview of Budget 2012.
A 60-minute webinar presented by Core Compliance & Legal Services and sponsored by LiveOffice.
Once You Archive Email, What's Next?
When it comes to email compliance, preparedness is key.
View this crash course in email compliance, and find out what else you need to know to protect yourself and your business.
You'll learn:
- What you are required to do after you capture electronic data
- What SEC and FINRA rules apply to email
- What types of communications require email supervision and more
Dodd-Frank Compliance and Technology Summer Meeting 2013Jeffrey C.Y. Li
Atlas Communications Technology recently co-sponsored the Dodd-Frank Compliance and Technology Summer Meeting. The presentation was an introduction to the complexities of the Dodd-Frank Wall Street Reform and Consumer Protection Act, what firms need to do to bring themselves into compliance, and the technology that can help enterprises meet the stringent demands of the act.
For more information about this conference, or to learn about our Fall meeting in September featuring one of the authors of the act, Congressman Jim Himes, please call 1-855-Dodd Frank (1-855-363-3372) for any questions, or if you wish to talk to one of our presenters today to talk about taking the next steps towards Dodd-Frank Compliance
Atlas Presentation 2013 07-09 dodd-frank summer meeting v1-0 (for online)
The financing of the international trade of goods — and the underwriting thereof — implicate a many-staged process of manufacture, storage, movement, delivery, inspection, and vending. The parties involved are many. The documentation of rights and responsibilities used to fill a small library of paper, and now involves paper, electronic communication, and some digital information transfer. Many points of delay and potential contention persist. Can blockchain clean this up? What other technological developments are reshaping trade finance?
Part of the webinar series: Blockchain Basics 2022
See more at https://www.financialpoise.com/webinars/
Plymouth - Essential 6-monthly Finance Directors' Update – Nov/Dec 2016 PKF Francis Clark
Our six-monthly Finance Seminars provide a high level overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Review by the Office of the Director of Corporate Enforcement (ODCE)Micheal O'Neill
Kevin Prendergast the Corporate Compliance Manager of ODCE provides a detailed review of the Office of the Director of Corporate Enforcement’s current and future focus as well as recent changes in Company Law, developments in Auditor Regulation and the forthcoming Companies Reform and Consolidation Act.
The financing of the international trade of goods — and the underwriting thereof — implicate a many-staged process of manufacture, storage, movement, delivery, inspection, and vending. The parties involved are many. The documentation of rights and responsibilities used to fill a small library of paper, and now involves paper, electronic communication, and some digital information transfer. Many points of delay and potential contention persist. Can blockchain clean this up? What other technological developments are reshaping trade finance?
Part of the webinar series: Blockchain Basics 2021
See more at https://www.financialpoise.com/webinars/
This 2 Hour Online CPD Course examines the main provisions in a Shareholder agreement, the pitfalls and what advisors need to watch for when guiding clients through the process. Presented by Alan O’Driscoll of Flynn O’Driscoll Business Lawyers gain insights into the creation, implementation and resolution of disputes arising from Shareholders Agreements.
This 2 Hour Online CPD course delivered by Mark Lonergan of the Law Library provides an overview of the main tax challenges facing practitioners and provides practical advice on how you can plan and improve the efficiency of your tax department.
Feilim O’Caoimh of McDowell Purcell Solicitors delivers a brief overview of the principle legal issues in Wind Farm Development. During this presentation he describes the Wind Farm Development Life Cycle and the challenges at each stage of the cycle.
Lean Manufacturing - How Do Lean Manufacturing Strategies Affect Profitability?Micheal O'Neill
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Is Budgeting Necessary? A Discussion on the Current Perpsectives on BudgetingMicheal O'Neill
Michael Kealy of Dublin Business School delivers a 2 Hour Online CPD Course analysing the need for Budgeting in these recessionary times and examines the practical challenges in developing and implementing a budget.
Insolvency and Restructuring – Achieving the Best Outcomes for Your Clients M...Micheal O'Neill
In this 2 Hour Online CPD Course Tom Murray of Friel Stafford provides an overview of Ireland’s current Corporate Insolvency & Restructuring landscape and looks forward to what’s coming down the line in 2012 and how accountants can best advise clients in difficulty.
Green Tax Issues, R&D Tax Credits & Intellectual PropertyMicheal O'Neill
Mark Lonergan delivers a 2 Hour Online CPD course examining the opportunities and challenges facing Irish businesses in relation to Green Tax, R&D Tax Credits & Intellectual Property.
Football and Finance – the Financial Management of Well Known BusinessesMicheal O'Neill
For Online CPD that is a little bit different – In this 2 Hour Online CPD Course Michael Kealy examines the financing behind the business of Football. He looks at how top clubs make and spend their fortunes and what lessons can be learned from them.
Financial Reporting Standards Refresher in SSAPsMicheal O'Neill
Delivered by Garret Wynne of OmniPro this 1 Hour Online CPD Course provides a summary of all current SSAPs applicable under Irish GAAP. The key points under each SSAP are addressed individually providing a concise overview of each Standard.
Garret Wynne of OmniPro provides a rapid fire refresher of current and future Financial Reporting Standards for Irish Accountants. This Financial Reporting Refresher forms part of the Essential Advisors Mix which is also available online. When you purchase this course as part of the Essential Advisors Mix youget 10 Hours Online CPD for just €150.00.
The Essential Advisors Mix provides 4 Hours Auditing, 2 Hours Financial Reporting, 2 Hours Company Law & 2 Hours Tax Online CPD.
Conor Sweeney of OmniPro provides an overview of recent Company Law developments and looks to future changes that are coming down the line. This Critical Company Law Update forms part of the Essential Advisors Mix which is also available online. When you purchase this course as part of the Essential Advisors Mix you get 10 Hours Online CPD for just €150.00.
The Essential Advisors Mix provides 4 Hours Auditing, 2 Hours Financial Reporting, 2 Hours Company Law & 2 Hours Tax Online CPD.
Compliance with Investment Business RegulationsMicheal O'Neill
In this 1 Hour Online CPD course Michelle Kane provides a detailed review of Investment Business Regulations and the impact they have on Practising Accountants who hold Investment Business Authorisation and provide Investment Business Advice to their clients.
This 1 Hour Online CPD Course delivered by Des O’Neill of OmniPro examines the Audit Acceptance & Planning process that should be followed by all Auditors. Des provides practical advice and examples to ensure an efficient and compliant Audit.
These economically challenging times present an added dimension to the opinion forming process facing auditors when they form audit opinions on financial statements. This practical session blends the theory and the technicality of the standards and the guidance documents with the practicality of actual opinions formed.
Audit Opinion Dilemmas forms part of the Essential Advisors Mix which is also available online. When you purchase this course as part of the Essential Advisors Mix you get 10 Hours Online CPD for just €150.00.
This 1 Hour Online CPD Course has been designed as a comprehensive guide to Annual Returns including completing and filing of the return. Conor gives practical step by step advice to ensuring that you don’t fall foul of the many common mistakes reported by Companies Registration Office on an Annual Basis.
This 30 minute Online CPD Course delivered by Garret Wynne of OmniPro provides a summary of the reporting requirements of Charities in Ireland. It provides information on the optional application of the Charity SORP and the key FRSs applicable under Irish GAAP.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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Explore how micro-credentials are transforming Technical and Vocational Education and Training (TVET) with this comprehensive slide deck. Discover what micro-credentials are, their importance in TVET, the advantages they offer, and the insights from industry experts. Additionally, learn about the top software applications available for creating and managing micro-credentials. This presentation also includes valuable resources and a discussion on the future of these specialised certifications.
For more detailed information on delivering micro-credentials in TVET, visit this https://tvettrainer.com/delivering-micro-credentials-in-tvet/
Group Presentation 2 Economics.Ariana Buscigliopptx
Anti Money Laundering The Legislation And The Requirements
1. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
In Association with:-
Online CPD for Accountants &
Professional Advisors
Anti Money Laundering - the
Legislation and the
Requirements
Presenter:
Michelle Kane - OmniPro
CPDStore.com
Unit 3, South Court, Block D, Iveagh Court,
Wexford Road Business Park, 5 – 8 Harcourt Road,
Carlow. Dublin 2.
059 9183888 01 4110000
www.OmniPro.ie www.CPDStore.com
2. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Anti Money Laundering
Legislation
– EU Third Money Laundering Directive transposed
into Irish Law
– The Criminal Justice (Money Laundering and
Terrorist Financing) Act 2010
Criminal Justice (ML &TF) Act
2010
• In broad terms this Act
– Defines the offence of money laundering
– Requires designated persons to identify non-domestic
politically exposed persons (PEPs)
– Requires identification of beneficial owners of legal
entities such as companies and trusts
– Focuses on the level of risk of money laundering
– Requires Central Bank and Financial Services
Authority to monitor credit and financial institutions
under this act
• The CCABI through the Institute’s have
published new Guidance in the form of a
Revised M42 Statement
OmniPro Education & Training 1
3. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Designated Persons
• Accountants in practice are ‘designated
persons’ under section 25 of the Act
• Other professions designated now include
– Solicitors and barristers
– Tax advisers
– Credit and financial institutions
– Trust and company service providers
– Private members gaming clubs
• Many of the obligations continue from the
previous regime or will not have changed
significantly, eg
• Obligation to identify clients
• Keep records
- retain identification records for at least 5 years
from last doing business with the client
- retain documentation relating to transactions
for at least 5 years following the date the
transaction was completed
- Adopt procedures
- Undertake appropriate training
- Report knowledge, suspicion or reasonable
grounds for suspicion to the Garda and the
Revenue Commissioners
OmniPro Education & Training 2
4. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
- Report all transactions connected with certain
‘designated’ states and territories
• In addition this Act extends its requirements to
businesses which are deemed to be in the
High Value Goods sector
• Any person trading in goods, but only in
respect of transactions involving payments in
cast of a total of atleast €15,000 whether one
transaction or a series
HVG Examples
• Antique dealers
• Boat sales
• Car sales
• Dealers in precious stones
• Jewellers
OmniPro Education & Training 3
5. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
New Developments
• Risk based approach to be taken to CDD
• Risk based approach to verify the identity of
beneficial owners
• Enhanced Due Diligence for politically
exposed persons (PEP’s) and for clients who
have not presented themselves in person
when establishing the business relationship
• Simplified due diligence for certain categories
• Removal of the general exemption from CDD
for clients who are themselves designated eg
other accounting firms or legal firms are no
longer exempted
• The ability to place reliance on 3rd parties to
carry out CDD
• On-going monitoring of your dealings with your
clients on a risk sensitive basis
• Introduction of more detailed requirements in
relation to your policies and procedures for
CDD measures and on-going monitoring,
reporting, internal control
• Including
– Internal reporting procedures
– Risk assessment and risk management
– Monitoring and management of compliance
– internally communicating the policies you
have established
OmniPro Education & Training 4
6. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• A supervision obligation on the competent
authorities to ensure that designated persons
are in compliance with the legislation
– In other words your Institute will have a more
onerous obligation to inspect your procedures
and how you are applying them.
What is Money Laundering
Anyway?
The 2010 Act defines money laundering very
widely
• all forms of handling or possessing the
proceeds, where the person knows or believes
such proceeds is or represents the proceeds
of criminal conduct,
• It includes possessing the proceeds of one‘s
own crime,
• facilitating any handling or possession of such
proceeds.
• The proceeds of criminal conduct may take
any form, including in money or money‘s
worth, securities, tangible property and
intangible property.
OmniPro Education & Training 5
7. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• The offence of money laundering also includes
someone being reckless as to the criminal
nature of the proceeds.
• Money laundering can be carried out in
respect of the proceeds of conduct that is an
offence in Ireland as well as conduct occurring
elsewhere that
– is an offence in the place where the conduct
takes place and
– would have been an offence if conducted in
Ireland
What is a Money Laundering Offence?
• Anyone can commit a money
laundering offence.
• A person commits a money laundering
offence if he, knowing or believing that
property is or probably comprises of the
proceeds of criminal conduct or being
reckless as to whether the property is or
probably comprises of such proceeds,
engages in any of the following acts in
relation to the property:
OmniPro Education & Training 6
8. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• Concealing or disguising the true nature,
source, location, disposition, movement or
ownership of the property, or any rights
relating to the property;
• Converting, transferring, handling, acquiring,
possessing or using the property;
• Removing the property from, or bringing the
property into, the State.
• For a matter to be money laundering there
must not only be criminal conduct, but also
proceeds of criminal conduct
Punishment for committing a
money laundering offence
• Up to 14 years in prison
• And/or an unlimited fine
OmniPro Education & Training 7
9. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Failing to make a report is an
offence
• If in the normal course of business, ie acting
as an auditor you come across something
which appears to be, or where you have a
suspicion it is, money laundering you must
make the required report
• Failure to do so is an offence under Section 42
• You are obliged by the legislation to make a
report
• There is no diminimus level in this legislation
so reports are required no matter the amount
concerned
• Failure to make a report carries up to 5 years
imprisonment and/or an unlimited fine
Legal privilege
• External reports are not necessarily required
where you are assisting a client rectify
position or
• receive information or documentation for
example when engaged by a legal
professional to carry out work on behalf of a
client.
OmniPro Education & Training 8
10. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Internal systems & controls
• Firms need to have in place a range of
systems in order to prevent and detect
operations related to money laundering or
terrorist financing.
• customer due diligence and ongoing
monitoring;
• reporting procedures ;
• record-keeping;
• internal control;
• risk assessment and management
• compliance management;
• communication and training.
• need to establish systems that create an
internal environment or culture in which staff
are aware of their responsibilities under the
Irish anti-money laundering regime and where
they understand that they are expected to fulfil
those responsibilities with appropriate
diligence.
OmniPro Education & Training 9
11. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
How do I decide what systems I need?
Consider a range of matters including:
• the type, scale and complexity of your own
operations;
• the different types of activities you are
involved in;
• the types of services you offer, and your client
profiles;
• how you sell your services;
• the type of business transactions it becomes
involved in or advises on; and
• the risks associated with each area of its
operations in terms of the risks of the
accounting firm or its services being used for
money laundering or terrorist operations, or
the risks of its clients and their counterparties
being involved in such operations.
What are the likely risks to be
considered at a firm level
• Clients trying to evade the payment of taxes;
• Clients attempting to utilise false accounting
to support a claim;
• Clients deliberately trying to defraud their
customers;
• Clients using this practice to assist them to
launder criminal proceeds in an attempt to
make them legitimate; and
• Clients assisting with terrorist financing.
OmniPro Education & Training 10
12. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Reporting Procedures
• Staff need to have clear procedures as to
– How; and
– Who
They need to make reports to either internally or
externally if you do not appoint an MLRO
• It is recommended that information in respect
of any report should not be kept on the client
file to ensure that there is no possibility of
‘tipping off’
Training Staff
• Training needs to include
– Information on the legislation including
penalties
– On how to recognise suspicious transactions
– How and who to consult with internally
– How to make internal reports
– How to avoid tipping off
OmniPro Education & Training 11
13. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• Frequency of training - is up to you to decide
but it is suggested that it should be no less
than annually
• New staff members should be trained as soon
as is practicable after starting
Applying a risk based approach
• You need to develop a risk profile for your firm
• And
• To apply to your client base
– eg, Assess your clients by industry, type or
sector
– The jurisdictions of client origin, funding,
investment and conduct of business
– Different types of services or products
Keep it simple
• Categorise by
- low
- normal
- high
• Risk ratings can be raised or lowered with
appropriate management input in particular or
exceptional circumstances
OmniPro Education & Training 12
14. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Consider how your firm is being
used
• Are Clients
– Using the firm actively to launder money through
the handling of cash or assets
– Are you concerned in an arrangement which could
facilitate money launder through provision of
investment services or providing trust or company
services
– Is there a risk attaching to the client eg high risk
sector, illegal activities, tax evaders, fraud?
Is a Money Laundering Reporting
Officer Required?
• The 2010 Act does not specifically require the
appointment of a MLRO
• Section 44 (1) states that accounting firms can
do so if they decide it is appropriate as part of
the procedures they adopt
• If an MLRO is appointed then the obligations
under S42 are met by individuals making an
internal report
• If there is no such internal procedure, ie a
MLRO is not appointed then individual staff
members would be obligated to make the
external reports
OmniPro Education & Training 13
15. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Role of the MLRO
• Receive internal reports of suspicions from
other staff members
• Consider the facts and circumstances and
decide whether or not to make an external
report
• Ensure that staff have obtained appropriate
training to be aware of suspicious transactions
etc
• Act as the liaison point with the Garda and
Revenue Commissioners
• Maintain the firms records in relation to any
cases reported including documents detailing
the investigation/review of internal reports
• Advising on how to proceed with work once a
report has been made in order to manage the
risk of prejudicing any investigation (tipping
off)
• Design and implement internal AML systems
Customer Due Diligence (CDD)
• Identifying the customer
- Verifying that identity on the basis of documents, data or
info received from a reliable and independent source
• Identifying beneficial owners
• Applying risk based measures to understand
ownership and control structures
• Conducting ongoing monitoring of the
business relationship
OmniPro Education & Training 14
16. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Identification Procedures for
Existing Customers
• S33 now requires you to satisfy yourself that
you have adequate documentation on the
identity of all clients including any
‘grandfathered’ under the old regime.
• The Act does not require immediate CDD
• CCAB I recommends when you are next
commencing an engagement with existing
clients
When do I apply CDD?
• When establishing a business relationship
• At appropriate times to existing customers
• Where there are any doubts about previously
obtained customer information
• YOU NEED TO ‘KNOW YOUR CLIENT’
• YOU NEED TO DOCUMENT YOUR
KNOWLEDGE PROPERLY
• YOU NEED TO RISK ASSESS THEM
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17. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Reporting suspicions
• Accounting firms need to submit external
reports to the Garda and the Revenue
Commissioners where
– You have knowledge
– Suspicions
– Or grounds to suspect
That another person has been, or is engaged in
money laundering or terrorist financing
• This knowledge or suspicion must arise ‘in the
course of carrying on business as an
accounting firm’
• Can only arise where you have scrutinised the
information
• Where doubt exists seek legal advice
What needs to be reported
• the information on which the knowledge or
suspicion has arisen
• The identity of the suspect
• The whereabouts of the laundered property
• Any other relevant information eg names of
associates etc
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18. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• Insolvency practitioners need to take care
when being appointed to a case that the
assets which they have been appointed to sell
may represent the proceeds of criminal
conduct .
• Selling those assets may constitute an offence
under Section 42(9)
How to make reports
• There is a prescribed form which can be
downloaded from
www.antimoneylaundering.gov.ie
Where are reports made to?
• By post to:
• Detective Superintendent, Financial
Intelligence Unit, Garda Bureau of Fraud
Investigation, Harcourt Square, Dublin 2
• Tel: 01 6663714
• And
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19. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• Revenue Commissioners,
SuspiciousTransactions Reports Office, Block
D, Ashtowngate, Navan Road, Dublin 15
• Tel No: 01 8277542
• Following a STR you will receive an
acknowledgement and feedback will be
provided on a six-monthly basis regarding the
status of any investigation
Taxes Consolidation Act 1997
• Income Tax
• Capital Gains Tax
• VAT
• Capital Acquisitions Tax
• Stamp duty, etc
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20. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
S 1078 Outlines Revenue offences
• Incorrect returns
• Incorrect claims or reliefs
• Issuing incorrect invoices
• Failure to deduct PRSI
• Incorrect books of account
• Failure to submit returns or certificates as
required
S1079 Duty to Report
• As an Accountant in Practice/Auditor you
become a relevant person and so you then
have a duty to make a report under this
legislation of any instance of a relevant
offence
Relevant Offences
• Wilfully or knowingly making an incorrect
return, statement or accounts
• Wilfully or knowingly claiming or obtaining a
relief on or an exemption from making a
payment
• Failing to comply with any provision of the
Acts in respect of furnishing return in relation
to income, or profit or gain
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21. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Other reporting responsibilities
• Company Law Enforcement Act 2001
• Criminal Justice (Theft and Fraud Offences)
Act 2001
• To the professional bodies regarding
misconduct of members
• To PI Insurers
Reporting to the Professional
Bodies
• Because of the way complaints are dealt with
internally if you are going to make a report be
mindful of ‘Tipping Off’
• It may be sensible to speak to someone within
the body who is aware of the responsibilities it
has under Anti Money Laundering legislation
• The same principle applies to alerting your
insurers.
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22. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Insolvency practitioners
• Obligations under S56 of the CLEA 2001
which requries the liquidator to report on the
conduct of the directors of an insolvent
company
• If in doubt take advice to ensure you are
avoiding the risk of prejudicing an
investigation
Anti-Money Laundering
Compliance Unit
• Established by the Department of Justice and
Law Reform to administer functions of a
competent authority
– The authorisation process for Trust and
Company Service Providers
– The registration for Private Members Gaming
Clubs
– The functions of monitoring designated
persons assigned to the Minister
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23. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
Trust & Company Services
Providers
• Who carry on activities without registering will
be subject to a fine of €5000 or imprisonment
of 12 months or on conviction of an indictment
to a fine and/or imprisonment of up to 5 years
What does it mean to your firm?
• You need to be diligent and spot those
transactions that fall foul of the legislation
• You need ensure that staff are appropriately
trained in AML procedures and that they have
adequate client knowledge to spot suspicious
items
• You need to ensure that your firm makes all of
the appropriate reports to Garda and
Revenue, and others
• You need to ensure that your own procedures
are adequate
• By now you will need to have client
identification on all clients;
• Have adopted and documented appropriate
risk assessment of your business and your
clients
• Have appointed an MLRO
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24. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
• And, have carried out your first AML
compliance review!
Useful Webpages
• CAI’s frequently asked questions
• Financial Regulator section on Anti-Money
laundering
• www.antimoneylaundering.gov.ie
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25. A Personalised CPD Certificate of Completion will be forwarded to you upon completion of this course. These notes do not serve as proof of completion alone.
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