Newsletter 02/2015
Seminar Announcement

AML in Practice: Implementation of Current Legislation and Guidance for 2015 and Beyond

a morning seminar on Monday 20th April 2015

2014 was a relatively quiet year from an AML/CFT point of view. The Central Bank of Ireland did not publish any enforcement action and the FCA only published one.

However, while it may have been publicly quiet, the Central Bank completed their thematic inspections to determine if firms had followed their recommendations as set out in the infamous October 2012 ‘Dear CEO’ letter.

2015 has started with a bang, with the Central bank publishing their report on Anti-Money laundering/Countering the Financing of Terrorism and Financial Sanctions in the Irish Banking Sector. This report is based on on-site inspections carried out by the Central Bank over the course of 2013 and 2014 and supplemented by Risk Evaluation Questionnaires completed by Retail and Wholesale banks and submitted to the Central bank for assessment.

Although, the report is written predominantly for the Banking sector, the Central bank expects all financial and credit institutions to carefully consider the issues raised in the report, and to use the report to inform the development of AML/CFT and Financial Sanctions frameworks.


This 3 hour seminar is intended to give practical guidance on how to implement the current Irish AML legislation, guidance and findings from the 2015 Report as well as the ‘Dear CEO’ Letter.It aims to bridge the gap between knowing what is necessary under the legislation / guidance notes and actually implementing / embedding the requirement into your business in a way that does not hinder the day to day running of it.

It is understood that participants will already have a working knowledge of the legislation.


  • How to design and create a robust risk assessment outlining practical steps on what should and should not be contained in it.
  • How to demonstrate Governance and Compliance in your Institution
  • How to document and identify suspicious transactions and activities and the correct procedures for escalation of suspicious transactions
  • Constructing a CDD framework for your institution including on-boarding new customers and on-going monitoring of customers
  • Constructing an appropriate EU Financial Sanctions Framework
  • Appropriate Testing of AML/CFT and Financial Sanctions Systems and how to demonstrate same


This seminar will be presented by Joseph Shannon. 
His biography can be found here

Seminar Details:

Date: Monday 20th April 
Registration: 9.00 - 9.50 am (Tea/Coffee and pastries will be served at registration)
Start Time: 10.00
Coffee Break: 11.30 - 11.45 am
Finish Time: 1.00 pm

Venue: Gibson Hotel, Point Village Dublin 1

Cost: €50 per attendee


If you wish to enquire about a course before booking, please contact us at

CPD details:

This seminar has been submitted and awaiting CPD accreditation with Institute of Bankers and other accrediing bodies

24 February 2015
In This Issue
Central Bank News
Central Bank publishes Consumer Protection Outlook Report
Regulatory Transactions Service Standards - Recent Statistics
Financial Crime
Central Bank Publishes Report on AML, CTF and Sanctions Compliance in Banks
Central Bank publishes its Enforcement Priorities for 2015
UK News
Payday loans: loan caps now in place in the UK and Wonga escapes criminal investigation...
CRD IV - COREP reporting changes again
CRD IV - Implementing Regulation published on reporting of Liquid Assets
Corporate Governance News
Weavering back again!
March - June Schedule
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