Anti-Money Laundering and Counter-Terrorism Financing

Anti-Money Laundering and Counter-Terrorist Financing


Money Laundering constitutes one of the greatest threats to every developed economy and society; and has become a central artery of today’s serious, organized criminal activity. Although it existed in conceptual form for a number of decades, the exploitation of recent developments in globalization, capital and customer mobility, increasing complexity of legal systems and inter-dependency and inter-connection of economies/financial systems and services, has turned money laundering to a sophisticated set of strategies and activities aiming to circumvent legal systems, regulatory road-blocks and Financial Intelligence Units’ efforts for its containment.

In the light of the above, effective, hands-on understanding and compliance with the Anti-Money Laundering and Counter – Terrorism Financing law (AML – CFT) and regulatory framework has never been more pivotal and more relevant for the continued operation, expansion in new markets and services, compliance and sound reputation of regulated financial institutions, administrative service providers, regulated professions (such as legal, accounting and auditing) and a variety of stakeholders that operate in related fields.  From the regulators’ corner, it is also vital to be able to relate to and appreciate the main challenges that the regulated entities face and develop their industry understanding.

This training programme aims in imparting essential information and further the understanding re the latest developments and typologies in AML – CFT, utilize case studies and real-life scenarios and address some of the key challenges in the implementation and operation of effective AML – CFT for the regulated sectors of the economy.

Date/Time: 08 June 2017, 08:30 - 17:00

Training Duration: 7 training hours

Location: CIIM Nicosia ( View Map )


You will enhance your understanding regarding important aspects on Anti-Money Laundering and Counter-Terrorism Financing, by addressing the key features of best practices. You will examine the latest international developments, consider threats and typologies, explore challenging cases of client due diligence and economic profiling.

In addition, you will attain essential information regarding the effective implementation of risk-based approach for Anti-Money Laundering and Counter-Terrorism Financing for financial institutions and administrative service provides.

Develop your knowledge regarding recognition and reporting procedures of suspicious transactions/activities.


Introduction to the AML theory

  • Difficulties in monitoring
  • Difficulties in estimating ML itself
  • Proactive responses to ML – TF

Overview of Main Provisions of AML – CFT Legal & Regulatory Framework

  • Case studies and interactive examples during class
  • Specific problems drawn from latest developments
  • Issues regarding the nature of predicate offences

Particular Aspects of the Legal/Regulatory Framework and Practical Applications

1) Client acceptance and categorization, compliance function, directors’ role and obligations:

  • The Puppet Masters: How the Corrupt use legal structures to hide stolen assets and what to do about it
  • Money Laundering using Trust and Company Service Providers
  • Money Laundering and Terrorist Financing Vulnerabilities of Legal Professionals

2) Application of measures and procedures on a Risk Based approach for financial institutions and administrative service providers:

  • The nature of AML – CFT risks: geographic, client, product/services risk
  • The Risk-Based approach and what does it entail
  • The implications and obligations for financial institutions and administrative service providers
  • The ambiguities of the risk-based approach, applications, etc
  • The impact of the Suspicious Transaction Reporting System. When to file a report: law and practice
  • Challenging cases of client due diligence, economic profiling and high risk clients, recognition and reporting of suspicious transactions/activities, latest threats and typologies
  • Demonstrating Compliance and using technology for that purpose

Best Practices and Methodologies

  • Fields of application (Financial Institutions, Legal and Audit professions, E-commerce, E-business, etc.)
  • The value of the information being collected, stored, analysed and exchanged

International Standing of Cyprus Regarding Application of AML - CFT

  • Criticism – Discussion


1) Practitioners in legal, accounting, audit and financial institutions fields:

  • Providers of compliance and audit services that seek to enhance and sharpen their understanding of key concepts on AML – CFT and develop a hands-on approach on implementation of AML – CFT measures based on best-practices and methodologies.
  • AML – CFT Reporting officers wishing to gain the latest knowledge on typologies, suspicious transactions, misuse of corporate vehicles to veil sources, intended usage or destination of funds, and effective internal reporting within their institutions and to FIUs.
  • Information Systems managers who wish to develop their understanding on the needs and challenges for the application of systems and processes for client economic profiling, records’ maintenance, transactions’ analysis and the carrying out of audits and investigations.
  • Legal practitioners who seek to further their understanding of key legal concepts and legislative provisions, enabling them to provide up-to-date and accurate legal advice to their clients.

2) Professionals from Financial Intelligence Units and/or regulators wishing to refresh and improve their understanding on the main challenges the industry faces regarding the implementation of AML – CFT.

3) Managers and Executives in regulated sectors (e.g. CySEC regulated entity AML Officers) of the economy that seek to gain a better understanding of the AML – CFT, and be in a better position to evaluate the needs and aspects of AML – CFT programs and measures for their businesses.


All CIIM Executive Education programmes are developed and taught by CIIM resident and visiting faculty who are widely recognised as skilled professional trainers with local and international business experience. Through many years of business consulting and teaching experience, CIIM faculty develop innovative long-lasting practical concepts that shape the practice of your daily professional responsibilities. The result is a practical educational experience which is designed to have an immediate effect into your business environment.


Trainer: Demetris Tsingis ( Read Full Bio )

Trainer Bio

Demetris A. Tsingis holds a BSc in Government & Economics from the LSE, an MBA in Finance and Entrepreneurial Management from Wharton Business School and is a Partner in K. Treppides & Co Ltd. He is a Fellow Chartered Accountant (FCA), a member of the Chartered Institute of Securities and Investment (MCSI), a member of the ICPAC Financial Services sub-committee and a holder of the ICPAC practicing certificate, a member of the Cypriot Institute of Internal Auditors (IIA) Education sub-committee, an advanced licence holder by the Cyprus Securities & Exchange Commission (CySEC) and an approved and active CF10 Compliance and CF11 AML Compliance from the UK Financial Conduct Authority (FCA). He is an approved External Trainer by the HRDA and a licensed Mediator and Insolvency Practitioner in Cyprus.

He is a Local Councilor of the Strovolos Municipality, a Board Member of the Nicosia Sewerage Board and the Founding President of the Kuwait – Cyprus Business Association Board of the CCCI. He further served as Chairman of the Board of Directors of COOP Strovolou.

Demetris A. Tsingis has extensive experience by working with and for investment banks, private banks, investment funds, investment firms and has dealt with regulators such as the FCA, SEC, CySEC and CBC. His experience spans from mergers & acquisitions and LBO valuations, to private equity & venture capital, to portfolio management, to licensing, Risk Management, Compliance and AML Compliance, to audit and to business plan preparations. He is also a Fellow of Entrepreneurship lecturing at CIIM since 2006 and a lecturer in the Cyprus Entrepreneurship Competition since 2007.

Expertise: Portfolio Management, Risk Managmeent, Compliance, AML, Mergers and Acquisitions, LBO valuations, Private Equity and Venture Capital

Training Experience: Over 14 years of local and international experience. In Cyprus, he has recentry trained professionals from organisation including Hellenic Bank, Ernst & Young, Jordan Ahli Bank PLC, cdbbank, Orbex Ltd, Novatax Ltd, Q Investment Management & Advisory Ltd, C.D. Messios Ltd and Heatway Electromechanical Services Ltd.


Programme Fee: €300

HRDA Subsidy: €119*

Programme Fee after HRDA subsidy: €181*

*This programme has been approved by the HRDA. Organisations participating with their employees, who satisfy the HRDA's criteria, are entitled to the subsidy.

Due to CIIM's non-profit status, no VAT is charged. Fees include tuition, educational material, coffee breaks, refreshments and lunch.

Special Discounts:

  • 10% discount for 3 registered employees attending from the same organisation
  • 15% discount for 4 registered employees attending from the same organisation
  • For larger group bookings from the same organisation please contact us
  • CIIM Students and Alumni who will attend the programme without participating through their organisations will benefit from a 25% discount on the fee before subsidy and can remit their payment in instalments. CIIM Students and Alumni attending as employees of a company and will apply to the subsidy, will benefit from a 15% discount on the net fee of the programme. Please contact us for further information.
  • Unemployed individuals will benefit from a 15% discount on the fee before subsidy and can remit their payment in instalments. Please contact us for further information.

To proceed with your registration, please click the button below to apply online. Reservation of seat is subject to availability.

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