By NEIL HARTNELL
Tribune Business Editor
A Bahamian asset protection and loss prevention firm is holding a two-day “advanced” anti-money laundering workshop at the British Colonial Hilton, starting tomorrow.
The seminar, organised by Preventative Measures and its principal, Gamal Newry, is targeted at the likes of compliance officers, chief financial officers, law enforcement, top company executives and internal and external auditors.
Its main presenter is L Burke Files, a well-known international speaker on anti-money laundering and financial crime. He heads a firm of investigators that specialise in asset recovery, due diligence, intellectual property, and the unravelling of illicit financial structures.
“Considering that the jurisdiction is under heavy scrutiny and monitoring, it is critical that the organisational and national monitors are equipped with real world experiences that have proven to be successful in their application,” Preventative Measures said.
“The advanced anti-money laundering course has been designed for professionals that have a bit of time and sophistication with money laundering. The course will assist participants in clearly spotting, understanding, investigating and discussing some of the more advanced money laundering schemes.”
The Preventative Measures workshop will start by examining historical money laundering trends and the importance of Know Your Customer (KYC) due diligence on clients, while also assessing the common methods used to conceal financial crime schemes.
It will then focus on the various forms of money laundering, including trade-based and crowd funding related schemes, and the use of parallel companies and warehouse receipts.
The workshop will also examine how money laundering and illicit schemes can be detected, and the “red flags” to look for.