We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. Read More

Log in


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

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

Registration


Register
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.

    EVENT CPE COMPETENCES


    3 Hours Core


    WEBINARS TERMS AND CONDITIONS


    Terms and conditions  apply


    DISCLAIMER


    By Registering and/or Booking for this event, you agree that MIA will collect your information, who will be using it as per the MIA Privacy Policy for CPE Events. Please read the MIA’s Privacy Notice for CPE Events in its entirety which can be found at this link. By accepting to participate in this event you accept that MIA shall process personal data in accordance with this Privacy Notice.
    If registration is being affected by a company or other corporate entity on behalf of an attendee or the registering company or other corporate entity supplies to the MIA personal data of third parties, such as of employees, affiliates, management companies or service providers, the registering company or other corporate entity shall be solely responsible for making sure that the provision of such data to the MIA fully complies with applicable laws and the relevant person in regard to whom the data relates has been provided with the necessary information at law regarding the MIA’s processing of his personal data.
    Any information notices, consents or other applicable requirements that may be required to be fulfilled for the provision of third party data to the MIA shall be borne solely by the registering company or other corporate entity. The registering company or other corporate entity hereby fully indemnifies the MIA and shall render the MIA completely harmless against all costs, damages or liability of whatsoever nature resulting from any claims or litigation (instituted or threatened) by any third party against the MIA as a result of the provision of any third party personal data to the MIA by the registering company or other corporate entity.
    The Malta Institute of Accountants may take photos during this event. These images will be used by the Institute to share news about the event in newsletters, the Annual Report, The Accountant journal and printed publicity. Photos can also be published on MIA’s Facebook, Linkedln and Twitter. Such images may be used to publicise future events of the same nature and for reporting purposes.


                   
    SUBSCRIBE TO OUR MAILING LIST

    Contact Us

    Suite 4, Level 1, Tower Business Centre, Tower Street, Swatar, BKR 4013, Malta 

    E-mail: info@miamalta.org

    Tel. +356 2258 1900

    © MALTA INSTITUTE OF ACCOUNTANTS, 2021  Privacy Notice