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M22006 - Demystifying customer due diligence – A practical approach (Online)

  • 27 Jan 2022
  • 13:30 - 16:45
  • Online Webinar


Registration Time: 13:15
Sessions Time: 13:30 - 16:45  including a 15-minute break
Speaker: Ms Ruth Esposito & Ms Niamh Dalton
Venue: Online Webinar
Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

Background information

In accordance with local anti-money laundering and counter financing of terrorism laws, subject persons are required to implement adequate customer due diligence measures. These measures aim to reduce the risks of the subject persons to be misused for money laundering and financing of terrorism purposes. However, due diligence measures may also assist in dealing with other types of risks that include other financial crime risks such as fraud, reputational risk, and people risk. This session will address the obligations emanating from the Prevention of Money Laundering and Funding of Terrorism Regulations (S.L. 373.01 of the Laws of Malta) and the Implementing Procedures. Furthermore, good practice measures as well as case studies will be discussed throughout the session.

Specific topics to be covered during the session

  • Outlining the importance of due diligence for risk management purposes.
  • The compliance factor – understanding the AML and CFT obligations vis-à-vis customer due diligence.
  • The risk-based approach and customer due diligence.
  • Understanding the difference between simplified due diligence, standard due diligence and enhanced due diligence.
  • Customer due diligence during onboarding and on an ongoing basis.

Why is the session of relevance to our members?

Attendees will enhance their knowledge as to what the local AML and CFT obligations in terms of customer due diligence entail. Furthermore, attendees will have a better understanding as to how customer due diligence can be implemented in practice.

Target Audience 

  • MLROs
  • Compliance Officers
  • Board members
  • Committee members
  • Risk officers
  • Internal auditors
  • Individuals handling customer due diligence measures

    Speakers' Profile

    Ruth Esposito joined Grant Thornton in 2016 and leads the compliance function within the Firm. Her role is to ensure that the Firm is compliant with the various regulatory requirements which include matters relating to anti-money laundering and counter financing of terrorism, data protection, independence, conflicts of interest and corporate governance. Over the years, her role expanded to cover various risk management matters whereby she implements the necessary measures and advises on aspects related to reputational risk and operational risk. Ruth is also responsible for the drafting of several internal policies and procedures and to monitor the implementation of same throughout the Firm.  Prior to joining Grant Thornton, Ruth worked with one of the big four companies in Malta whereby she was engaged on a number of projects related to anti-money laundering and counter financing of terrorism. Furthermore, she was also engaged on a cybersecurity project in which she formed part of the project management team. During this time, Ruth had the opportunity to work in Newcastle and in London as part of a team which was engaged by credit institutions to carry out several tasks related to anti-money laundering and counter financing of terrorism. 
    In 2015, Ruth obtained a Bachelor of Arts (Honours) in Criminology. She also obtained a Certificate in Anti-Money Laundering and Funding of terrorism (MQF level 5). In 2021, ​Ruth is successfully completed the Master of Science in Security Management, Counter Fraud and Counter Corruption at the University of Portsmouth.
    Niamh Dalton obtained a Bachelor of Arts (Honours) Degree in Criminology from the University of Malta in 2018. After completing her degree, she developed an interest in both the physical and financial aspects of crime. This interest developed further as she has now successfully completed the Masters Degree in Crime Science with Counter Fraud and Counter Corruption with the University of Portsmouth. Niamh started her career with the National Statistics Office (NSO) whereby she was responsible to test survey programs, allocating interviewers or supervisors to conduct surveys, collecting the necessary data for surveys and the delivery of informative presentations. Subsequently, in 2019, she started working with Grant Thornton as a Lead Associate in Compliance. Her main role is to conduct customer due diligence and to ensure that the Firm is compliant with all relevant laws and regulation such as the anti-money laundering and counter financing terrorism regime. Niamh is also involved in the risk management aspect of the Firm as she assists in the implementation of various mitigation measures pertaining to health and safety, reputational risk and operational risks amongst other matters.


    3 Hours Core


    Terms and conditions  apply


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