In cooperation with the National Bank of Ukraine, the Council of Europe organised a series of trainings with over 420 banking professionals participating. Five weekly sessions served to enhance the skills of the baking professionals in applying Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) measures.
Organised in an interactive way, in each session banking officials reviewed best practices in making operational the AML/CTF regulatory requirements and learnt from case studies that helped to illustrate real proceedings. Experts from the Council of Europe, with many years of professional experience, led the sessions and shared good AML/CTF practices with participants.
The agenda of the training series comprehensively covered all relevant AML/CFT topics including: business-wide risk assessment and understanding financial risk exposure; review of the most relevant predicate offences for money laundering; customer due diligence (CDD) requirements and reviews; customer risk assessments and relationship monitoring; sanctions screening; role and effectiveness of the second and third lines of defence; ongoing compliance; testing and auditing programs and reporting of suspicious transactions and other relevant information.
The training will enhance the capacities of the Ukrainian banking sector to effectively prevent money laundering and terrorist financing.
This activity was organised within the framework of the Project on “Strengthening measures to counter money laundering and the financing of terrorism in Ukraine”, funded by the European Union and the Council of Europe and implemented by the Council of Europe in their Partnership for Good Governance II.