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Picture for category The effects of the FATF rec.16 on customers transfers

The effects of the FATF rec.16 on customers transfers

Today Payments service providers have to comply with FATF new recommendation 16 through adaptation of national/regional legal framework which lays down rules for banks to send information on the Ordering Customer (field 50a) and beneficiary field (59a), end to end throughout the payment’s value chain, for the prevention purposes, investigations and detection of money laundering and terrorism financing. The EU put a deadline 26 June 2017 to comply with (rec16) for all payments which involve European banks.

By the end of this course you will be able to:

. Explain the effects of FATF Recommendation 16 on banking operations practice precisely on customers’ transfers.

Course Outline:

. Effects of FATF Rec.16 on customers transfers: MPG FATF REC 16 #1: Underlying guiding principles MPG FATF REC 16 #2: The use of field 50a with Option A MPG FATF REC 16 #3: The use of field 50a with Option F MPG FATF REC 16 #4: The use of field 50a with Option K MPG FATF REC 16 #5: The use of field 59a with Option A MPG FATF REC 16 #6: The use of field 59a with No letter Option MPG FATF REC 16 #7: The use of field 59a with option F

Target Audience:

. Banking operations officers handling customers transfers

. Compliance officers

. AML officers

1 Days

Prerequisites:

. knowledge of customers transfers procedures and mechanism.

This course entitles you to attend:

Upon successful completion of this course, participants will obtain:

Bilingual

Course Schedule :