Implementing BNM’s Anti-Money Laundering/
Countering Financing of Terrorism (AML/CFT) Process
25 Aug 2021 | 10.00am – 11:30am
Join and Get an Exclusive Offer for AML Solutions!
- Free Public Seminar for Professional Firms in Malaysia (Lawyers, Accountants, Trust Companies, Company Secretaries, Dealers in Precious Metals / Precious Stones, Registered Estate Agents)
- Practical Guide to implementing AML/CFT Internal Policies, Procedures and Controls (IPPC)
- Sharing and demo on how to enhance your AML/CFT Process (including Screening, Customer Due Diligence, Ongoing Monitoring)
- Exclusive offer for SentroWeb AML software to webinar attendees
- Certificate of Attendance will be provided
About the Seminar
Effective 1 Jan 2020, professional firms in Malaysia are required to comply with the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (“AMLA”). Accordingly, the Bank Negara Malaysia (BNM) as the regulator for these industries, has issued guidelines to assist the lawyers, CPAs, CSPs, jewellers, estate agents (as reporting institutions) meet their AML/CFT obligations under AMLA. Specifically, these guidelines cover:
|Requirements||Bank Negara Malaysia |
Guideline on AML/CFT & TFS for DNFBPs
– Guideline Section –
|AML/CFT Policies, Procedures and Controls||10, 11|
|Customer Due Diligence||14|
|Making Suspicious Transaction Reports||19, 20|
|AML/CFT Screening||11.7, 15, 17, 23, 24|
While the guidelines are useful, it is important for professional firms to set up the operational processes to deal with the AML/CFT risks. This public seminar will provide practical information on how to implement the guidelines by Bank Negara Malaysia, for small and medium size firms.
|Date: 25 August 2021 (Wednesday)|
Time: 10 am – 11:30 am
Platform: ZOOM Online Webinar
Price: Free (on First-come-first-serve basis)
Registration Closing Date: 24 Aug 2021 (earlier, if upon full registration)
|09:45 – 10:05||Log in and Welcome Introduction|
|10:05 – 10:35||Practical Guide to implementing AML/CFT Internal Policies, Procedures and Controls|
Speaker: Mr Martin Lim, Founder and Director, Ingenique Solutions
In Section 10 and 11 of the BNM Guideline on the Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Designated Non-Financial Businesses and Professions (DNFBPs), there is a need for firms to implement internal policies, procedures and controls (IPPC) to address ML/TF risks.
How does a firm develop and implement these AML/CFT IPPC in their day-to-day operations to mitigate the ML/TF risks and comply with the AMLA requirements?
This session will share with the participants practical implementation that will balance compliance requirements and business needs, with focus on Customer Due Diligence and Ongoing Monitoring.
|10:35 – 11:00||Enhancing Your AML/CFT Process (CDD, Screening, OM) through Technology|
Speaker: Mr Sachin B. Singh, Director, Dow Jones Asia Pacific
By now, professional firms are familiar with the requirements of AML/CFT, and have taken active steps to implement AML/CFT processes in their businesses. With the right tools, AML/CFT processes can be made more efficient for Customer Due Diligence (CDD), Screening and Ongoing Monitoring.
This session will share with the professional firms (lawyers, accountants, company secretaries etc), the current technologies that can be used by the practitioners to enhance their AML/CFF processes. An introduction by Dow Jones on the need for reputable AML databases will be covered.
|11:00 – 11:20||Short demo of SentroWeb-DJ – Key Features to Help Comply with AMLA|
Speaker: Ms Tan Lee Kiau, Senior Sales Executive, Ingenique Solutions
A short demo of SentroWeb, which is supported by Dow Jones, will show you the salient features that help you streamline your AML/CFT processes and comply with AMLA. Attendees are welcomed to find out more about SentroWeb-DJ, after the presentation.
|11:20 – 11:30||Q&A|
About the Speakers
Founder & Director, Ingenique Solutions
Martin is the person behind the product development of all products by Ingenique. Prior to joining Ingenique, Martin has more than 15 years in the IT industry covering both technical and business development responsibilities. With Ingenique, he frequently engages with small and medium sized professional firms to assist them in implementing AML/CFT policies, procedures and controls, and to prepare for regulatory inspections and reviews. He is also the principal trainer for the Singapore Ministry of Law’s Precious Stones / Metal Dealer (PSMD) sector on AML/CFT compliance, and the honorary AML/CFT Advisor for Singapore Bullion Market Association (SBMA).
Sachin B. Singh
Director, Dow Jones Asia Pacific
Sachin heads the regional partnership as the Director of Partnerships – APAC, Risk & Compliance, Dow Jones. In his role he works closely with regulators, financial institutions, industry associations, legal and compliance professionals. He regularly engages with international financial institutions and non-financial institutions on AML compliance matters, and works closely with his clients to navigate these matters.
Ms Tan Lee Kiau
Senior Sales Executive, Ingenique Solutions
Ms Tan Lee Kiau is a Senior Sales Executive responsible for the sales in Ingenique Solutions. With Ingenique, she plays a key role in developing and growing the Singapore and Malaysia market, by putting her strong client relationship skills and practical knowledge in AML/CFT matters to help clients address their AML/CFT related issues, concerns & requirements. Lee Kiau holds a Bachelor of Arts degree, in Economics and Japanese Studies.