GACO Financial Crime Training 2024

Financial Crime training plays an important role in firms, ensuring that employees are equipped with the knowledge and skills to identify, prevent and report any instance of suspected money laundering or other financial crimes. 

Designed to equip employees with the knowledge and skills to identify, prevent, and report the activities associated with money laundering and financial crime, Financial Crime training is a crucial part of every good compliance process. It generally encompasses a comprehensive understanding of relevant legislation, regulatory requirements, and best practices aimed at mitigating the risk of money laundering, fraud, and other forms of financial crime.

Dispelling the myth that Financial Crime Training is for Compliance Officers and MLRO's, it should be noted that Financial Crime training is essential for all employees working within regulated firms. Teams and personnel that need to be trained could include:

• Frontline staff: customer-facing employees who may handle financial transactions, account openings, or the sale of products and services on a daily basis
• Compliance and risk professionals: responsible for implementing and overseeing AML policies and procedures, assessing and managing risk within regulated firms
• Senior management: it is important that executives and directors are well-versed in the prevention of money laundering in order to set the tone for AML compliance throughout the business.

In Essence: training is for everyone in your Organisation!

The risk of money laundering and other financial crimes is not static. Criminals are constantly coming up with new and innovative ways to launder money, and businesses need to stay ahead of the game. By conducting AML training on an annual basis, businesses can help mitigate the risk of financial crime by ensuring that employees are aware of the latest threats and are equipped to detect and prevent them.

To assist you in complying with most of the above mentioned requirements, GACO has set up 3 half-day training sessions. This year the sessions will be again on a face to face basis with David Parody and held at the Leisure Cinemas at the King’s Bastion Leisure Centre. 

Among other things, David David will be focusing on the new NRA, next Moneyval evaluation and UBO register dos and don'ts as well as the top 10 changes as a result of the revised AML Guidance Notes released by the GFSC.

You can only register for 1 session per person. As places are limited, please register online as soon as possible to avoid disappointment . Places will be allocated on a first come, first serve basis. Please find below further details of the event.

Sessions, Dates & Time

Session 1: 26th November 2024; 09.30 - 12.30hrs
Session 2: 26th November 2024; 13.30 - 16.30hrs
Session 3: 27th November 2024; 09.30 - 12.30hrs

Location

Leisure Cinemas at the King’s Bastion Leisure Centre

Price

GACO Members: £40 per attendee
Non-GACO Members: £80 per attendee

Speakers

David Parody

• National Coordinator for AML/CFT/CPF for Gibraltar.
• Consultant on AML/CFT/CPF. Undertaken assignments with the World Bank and Council of Europe.
• Proven leadership skills in delivering substantive projects on time, on budget and effectively.
• Ex-officio Board Member & previous Secretary to the Financial Services Commission with direct reporting to the Chairman. Interfacing with Chairman and Board members on a very regular basis.
• International experience. David has been seconded both to the Bank of England and FSA in the UK (Arrow Development) and as Deputy Director of Regulation in the British Virgin Islands (2008). Strong emphasis of information technology from both a development as well as an implementation angle.
• Proficient and experienced public speaker.
• Detailed knowledge of EU Money Laundering Directives and the FATF Recommendations and Evaluation Methodology.

Carl Ramagge

In December 2021, Carl Ramagge joined the Gibraltar Financial Intelligence Unit as Head of Operations (Legal). Carl was called to the Bar of England and Wales (and Gibraltar) in 2007 and brings with him almost 15 years of Criminal Justice experience. Having spent most of his time defending his clients, in 2013 he was appointed Crown Counsel for HM Government of Gibraltar and spent 8 years at the Office of Criminal Prosecutions and Litigation (OCPL). At OCPL he worked on some of Gibraltar’s most important trials for offences such as Murder, Rape, Serious sexual assaults and offences against children. He had also undertaken specialist training in Rape and Serious Sexual Offences with the Crown Prosecution Service in the UK. He has also prosecuted financial crime including fraud and false accounting and some have resulted in the crown confiscating the proceeds of crime. During 2022, Carl has attended numerous courses required to upskill in economic crime and financial intelligence, including the FATF Standards Course. Specialising in the recent surge in sanctions, Carl has been involved in the operational aspects of sanctions breaches reported through the GFIU. His experience on this has allowed him to engage with the private sector through Project Nexus events.