Podcast Location:
Sorry, this podcast has been removed as it is now out of date
Categories:
Banking and Financial Services
Fraud, Financial Crime & Anti-Money Laundering
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • a) £69+VAT for this CPDcast only
  • b) £325+VAT for unlimited access to all of our podcasts. details »
  • c) Discounts for multiple users - call +44 (0) 20 3377 3901 now to speak to our sales team
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at commercial and criminal practitioners of all levels and anyone operating within the regulated sector. The podcast provides practical advice for satisfying the duty to perform due diligence under the 2007 Regulations. Changes introduced by the new legislation are highlighted. The podcast also addresses the due diligence requirements for conducting business on an international level. The concept of a "politically exposed person" (PEP) is defined and explored.

Outcomes:
After completing the course you will:
  • Understand the scope of the Money Laundering Regulations 2007;
  • Understand the meaning of Client Due Diligence (CDD);
  • Be aware of the law governing reliance on third parties for CDD;
  • Understand when CDD must be performed;
  • Recognise which countries are deemed to have equivalent legislation for the purposes of CDD;
  • Appreciate the difference between simplified and enhanced CDD;
  • Be aware of the definition of a politically exposed person (PEPs);
  • Understand the due diligence requirements relating to PEPs.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Legal Principles
Legislative Updates
Practical Guide
Sources and References:
  • Money Laundering Regulations 2007, Regulations 5,8,9,11,13,14,17;
  • Solicitors Code of Conduct;
  • www.hm-treasury.gov.uk.

This podcast follows on from "Anti money laundering: Part 1".In this podcast Ivan Pearce and Simon Taylor discuss the duties imposed by the Money Laundering Regulations 2007 on those operating in the regulated sector. The podcast considers the requirements for Client Due Diligence. The difference between simplified and enhanced client due diligence is analysed. The specific due diligence requirements for entering into business relations with politically exposed persons are defined.

Podcast Added: 15/8/2008

This course has now been removed from the site. It is no longer suitable for CPD purposes as it contains information that is out of date or incorrect. For a list of our latest CPDcasts, please visit the library.

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