Introduction to Anti-Money Laundering Law and Compliance

Overview

Beyond theoretical foundations, the course provides practical tips to ensure a strong grasp of this complex subject. Participants are equipped to fulfil professional obligations related to compliance.The curriculum integrates viewpoints from progressive national legal systems for detailed examination. Beyond theoretical foundations, the course imparts practical tips to ensure a strong understanding of this complex subject. Participants are equipped to fulfil professional obligations related to compliance.Compliance with anti-money laundering (AML) regulations presents significant challenges for both regulators and reporting entities. With AML laws spanning various legal and regulatory areas, navigating them can be intricate. While designated non-financial businesses and professions (DNFBPs), including legal practitioners, may plead ignorance of the law, such lack of awareness does not serve as a valid excuse for non-compliance with AML laws.

Hence, this comprehensive course is designed for law students and legal practitioners, offering a nuanced exploration of the complex AML landscape. It emphasizes the multifaceted nature of AML compliance, specifically addressing its impact on DNFBPs, focusing exclusively on legal practitioners. The course actively bridges the knowledge gap by stressing the importance of AML regulation understanding, providing a detailed overview to ensure compliance. It establishes connections between AML regulations and the legal profession, delineating the potential roles of legal practitioners in money laundering scenarios and aiming to equip participants with essential knowledge and awareness. Additionally, the course reinforces professional ethics and responsibilities in combating money laundering, offers insights into the current legal framework, and touches on anticipated shifts in the legal and regulatory environment for legal professionals.

Excursions constitute an important component of this course, offering a unique academic experience. Presently, no international court exclusively addresses financial crimes; nevertheless, a discernible trend within international courts indicates a proclivity to integrate explicit mandates with global initiatives combatting money laundering. As part of this enriching program, we will coordinate visits to two prominent courts that have been at the forefront of mainstreaming AML issues: a morning session at the International Criminal Court, including a visit to the Office of the Prosecutor, and an afternoon discussion at the International Court of Justice focusing on the ongoing AML case, Equatorial Guinea v. France.

Learning objectives

• Understand the structure and nature of international AML law;
• Distinguish different sources of the legal basis for AML compliance;
•  Explain the role of legal practitioners in AML compliance;
• Identify the main AML compliance methods; and
• Design AML compliance programs