Training of the company director on KYC/AML requirements

For every company operating in any jurisdiction, financial security is an important aspect. The sale of goods/services is regulated by the concluded cooperation agreement, and in the context of financial technologies, security measures are included in the transaction tools used.

In March 2020, amendments to the Law on the Prevention of Money Laundering and the Financing of Terrorist Activities were published. In accordance with the amendments that have entered into force, one important requirement for all Estonian companies is to have Director KYC/AML which can only be performed by a resident of Estonia.

A specialist holding this position must be fluent in all existing requirements imposed on Estonian companies holding a cryptocurrency license.

Also, the KYC/AML director must know the basic norms of the current legislation of Estonia, and successfully operate with them in the process of conducting work activities. Specific knowledge of the KYC/AML niche allows you to identify clients of cryptocurrency projects.

Features of the concept of KYC/AML, which has taken hold in the field of cryptocurrency markets and is associated with complete anonymity and decentralization:

  1. KYC (Know Your Customer) – know your customer.
  2. AML (Anti-Money Laundering) – effective measures against money laundering.

Modern concepts of KYC/AML are interconnected with max financial. business responsibility, and reliable protection against fraudulent risks. Today, these concepts are used in concluded agreements between organizations of different states, where restrictions prevailing at the legislative level.

Also, KYC/AML is required to be included in the contracts of partners belonging to countries where there is strict government control over operating enterprises. In offshore zones, such requirements are completely absent.

Current KYC/AML standards additionally encountered in the process of obtaining a license to register foreign currency. Full compliance with all the subtleties of KYC/AML by cryptocurrency owners and exchange participants provides the opportunity to quickly withdraw cryptocurrencies into cash or non-cash money. By giving up anonymity, in return users receive guaranteed, comprehensive security of funds.

Training of the company director on KYC/AML requirements on affordable terms

The E-COMMERCE BROKER company offers accessible and professional training for the director of your company on KYC/AML requirements. Our company employs experts who know all the intricacies of current legislation in different jurisdictions.

We provide a wide range of services regarding registration of companies almost anywhere in the world, opening accounts in banking institutions, and also specialize in acquiring for high/low risk businesses.

Upon completion of the training course, the KYC/AML director will have the following skills:

  1. Development of rules and relevant regulatory documents for cryptocurrency organization, for the purpose of competent management of risks associated with the financing of terrorism and illegal money laundering.
  2. Identifying suspicious activities of partners and taking appropriate measures.
  3. Passing an interview at Rahapesu andmebüroo to obtain/confirm a license to transparently conduct activities in the field of cryptocurrency.

The duration of training is 1 month, the cost is 2200 Euro. To register for the course, use the contact information provided.

We inform you that you can enroll in KYC/AML courses with the issuance of a certificate that is valid in the European Union and beyond.

Start of a new group 05.09.2022/XNUMX/XNUMX.

The total course volume is 100 academic hours.
* 65 hours of theoretical and practical classes * 35 hours of independent work

Training is conducted in Russian. In the near future it is planned to teach in English.
Training is conducted jointly with the TempoKoolitus training center - face-to-face in Estonia (Tallinn) and remotely (Skype or Zoom).

Lessons will be held on Mondays and Thursdays from 10.00-13.00 (morning group), as well as from 18.00-21.00 (evening group).

The cost of the course is 2200 EUR. The training takes place over 2 months.

Upon completion of the course, a certificate is issued in Estonian (for residents of Estonia) and English, valid throughout the EU.
If you have any questions about registering for courses, please leave a request and we will contact you within a day.

Learning modules

Implementation of AML policy and its main aspects
• Basic concepts of AML CFT CWMDF when organizing the process of a company’s business activities
• Functions of a KYC/AML specialist
• Corporate ethics and AML policy in the company
• (AML/CFT Act) An act defining actions to prevent money laundering and terrorist financing (AML/CFT)
• (MSOL) Operational Licenses for Payment Institutions and Electronic Money Institutions
• Modeling of internal security systems to identify suspicious company transactions
• Responsibilities of members of the company’s board for organizing AML procedures
Legal organizational aspects necessary when forming a KYC/AML policy
• Requirements and standards that the AML Officer and Compliance Officer must meet
• International standards and recommendations Fatf by application of AML/CFT measures
• Legal framework and regulations of Estonia
• Methodology for assessing the effectiveness of AML/CFT systems
• International cooperation and operational issues
• Main aspects of control over the volume of money circulation in accordance with the AML/CFT Law (RahaPTS)
• Preventive measures and forms of supervision
• International sanctions and sanctions regimes
Theoretical foundations of financial monitoring AML/CFT
• Financial monitoring: concept and types
• Methods of combating the laundering of funds and other property obtained by criminal means
• Methods of countering the financing of terrorism and the proliferation of weapons of mass destruction
• Powers of law enforcement and investigative agencies
• Risks and control environment
• Financial investigations in the financial monitoring system
• Consequences of money laundering and terrorist financing for national economic and financial systems
Elements of KYC standards for risk management. Know your client program
• Important elements of KYC standards
• General requirements and features of the psychology of communication when obtaining identification information of a client/partner
• Detailed identification issues, in accordance with FATF recommendations
• Identification work with trust account, designated person account and fiduciary account
• Aspects of corporate identity controls, anonymous accounts, correspondent transactions and unusual transactions
• Identification of accounts opened by professional intermediaries and remote clients
• Identification of persons associated with politics
• Risk management and implementation of KYC standards on a transnational scale
Personal data protection (GDPR)
• Key aspects of the General Data Protection Regulation (GDPR) of the European Union
• Basic provisions of the personal data protection law in Estonia
• Principles for processing personal data
• Purpose and legal basis for processing personal data
• Ensuring the protection and storage of personal data
• Transfer of personal data to third parties
• Personal data storage
• Submission and consideration of complaints
AML/CFT risk indicators
• Organization of a synchronized system for monitoring suspicious schemes for money laundering and terrorist financing
• Assessing suspicious indicators for KYC/AML officer and Compliance Officer • System for working with real estate transaction indicators
• Structure of work with indicators of money circulation
• Monitoring indicators for trade transactions and professional service providers
• Indicators for monitoring financial obligations and investments
• Structure of work with indicators of money circulation
Practical modeling and assessment of the security of financial instruments
• Basic Concepts of the International Chamber of Commerce (ICC) Rules and the Uniform Rules for Demand Guarantees, ICC Publication No. 758 (ICC 758)
• Risk assessment when working with bank guarantees and documentary letters of credit (BG (BCL), L/C, DLC (UCP600)
• Risk assessment structure when working with Investment agreement and Partnership agreement formats
• Features of payments in the Swift system, SWIFT RMA, Swift GPI service, types of financial messages
• Aspects of fraudulent schemes using MT103/202, MT799/760 messages
• Typical fraud schemes in clones of the Global Pay system
• Risk assessment when working with depository clients (using the example of working with Euroclear)
• Red indicators of problematic transactions (Danske Bank versions of mirror transactions)
• Peculiarities of working with clients of Russian banks (aspects of the work of KTT)
• Aspects of the operation of the basic SEPA scheme and SEPA direct debit (SDD mandate) Business to Business (B2B) (Practical modeling in working with risk indicators)
Practical modeling of assessing the security of the financial environment of a legal entity based on data from the annual report
• Indicators for assessing the risk of formal structures for constructing assets and liabilities of the balance sheet
• Indicators of model management of current assets and liabilities
• Indicators of compliance with the volume of circulation of working capital
• Cash flow analysis (analysis of receivables and payables)
• Indicators of compliance with financial indicators of current activities (analysis of financial ratios)
• Indicators of compliance of transactions with financial obligations and investments with the stated financial planning
• An indicator of the real calculation of the company’s investment needs in current economic activities
Risk indicators when working with cryptocurrency
• Legal status of cryptocurrency
• Types of cryptocurrencies and their features
• Structure of working with smart contracts based on blockchain
• The concept of peer-to-peer (P2P) networking
• Decentralized cryptosystems (DEX IB modulation)
• Features of the formation of nominal and secured tokens
• Circulation structure of the nominal value of non-fungible tokens
• Aspects of financial transactions with hot and cold crypto wallets
• Modeling the operation of red zone indicators when analyzing work with a crypto resource
• Crimes in the crypto circulation system and countermeasures
• Aspects of legislative regulation of the circulation of cryptocurrencies in the EU and the USA
Modern indicators for identifying payment documents and contracts that have signs of falsification
• Main aspects of technical and forensic examination of documents
• Types of fraud with digital documents and their features
• The concept of metamerism
• Method for conducting spectral analysis of documents
• Graphic indicators for identifying signs of document falsification
• Methods for expert assessment of the authenticity of signatures and handwriting when working with a graphic editor
• Assessing the authenticity of digital documents in practice (modeling situations)
• (Practical classes and independent work)
Methods for using profiling to identify suspicious clients and partners in the work of a KYC/AML specialist
• Basic aspects of profiling
• Psychological basis for profiling to identify suspicious aspects of behavior
• Areas of application of operational psychodiagnostics in the work of a KYC/AML specialist
• Methods for using psychological profiling techniques to identify suspicious clients and partners
• Determining the psychotype of a potential fraudster
• Detailing aspects of the psychological impact on a person, using modern online fraud schemes
• Methods for reducing the risk of vulnerability of KYC/AML specialists in identifying suspicious transactions in the field of money laundering and terrorist financing (recommendations (FATF)

Course teacher

Ilmar Ibragimov
Business course teacher

2016-2021 Emissione company individual projects in the field of PCS technology and structural economics.

Development of a financial model, preparation of project documentation, sales using financial instruments BG (Bond loan), SBLC (subordinated loan contract), LC line of credit, MTN (medium-term credit note).

Audit of partners in accordance with anti-money laundering rules in accordance with the ICA certificate according to the ISO 19600:2014 standard. Working with commercial registrars in Germany, Switzerland, Austria, the Czech Republic and other countries. Working with registrars of offshore companies.

Introduction of Dekra certification. Inspection of construction tenders and projects in accordance with Platts terms and conditions. Inspection and production of prospectuses and projects in Dex II Dex PP formats. Inspection and financial analysis of the company's annual report and business activities.

2009-2015 Tallinn School of Economics. Department of Financial Analysis, researcher and lecturer. Course of lectures: analysis of financial trends, financial analysis, audit of the annual report, foreign exchange activities, merchandising, corporate marketing.

2007 research in the field of electricity, project consultant

2006 Refkliima Group financial risk management, financial analyst. Management accounting development of an effective model for the company, financial forecasts.

2000 shareholder of the company “Term Holding” work with investors, individual projects

1997 Basis-Group Company (Russia) financial risk management, financial analyst

1995 Estonian Financial Bureau, Deputy Head of Banking Bankruptcy Department

1990-1994 Estonian Social Bank, from the position of senior economist in the international department to head of the financial risk department

Education and qualifications:

1990 Tallinn School of Mathematics
1992 Accounting Courses (Certificate of Specialization)
1994 Tallinn Technical University major in accounting
1996 Tallinn Technical University Master's degree in banking
1999 Tallinn University of Technology, doctoral studies
2000 individual doctoral research on the impact of modern industrial technologies on society, direction “industrial production”.


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