1. Through case work, in-class discussions and expert guidance from our experienced speakers, you will learn how to assess the key elements of AML compliance programme.
2. First-hand study, experience-sharing and real-world cases by our AML speakers provides practical knowledge and skills in an attempt to prepare you to pursue a career in financial compliance.

 

 

The programme aims to equip students with a theoretical and practical foundation and the latest knowledge in anti-money laundering and counter-terrorist financing. The programme focuses on the best practice approach to money laundering and terrorist financing prevention in Hong Kong. 

 

Assessment Criteria

Each module will be assessed by one individual written assignment. All assessments will be in English.

 

Attendance Requirement

Student are required to achieve at least 70% in attendance for each module to complete the whole programme.

 

Speakers

Dr Lam Yat-fai (林日辉), CAMS, CFE, CFA, CAIA, FRM, PRM, MCSE and MCNE

Chief Data Scientist, Strategic Data Science Limited

Dr Lam Yat-fai is the Chief Data Scientist of Strategic Data Science Limited and the Adjunct Professor of Finance, City University of Hong Kong. He graduated from City University of Hong Kong with a Doctor of Business Administration degree and holds the CFA, CAIA, CAMS, CFE, FRM, PRM, MCSE and MCNE professional designations, specializing in the areas of machine learning, cryptocurrencies and anti-money laundering. Before becoming a financial technologist, Dr. LAM worked for bank regulator, international bank and sovereign wealth fund.

 

Mr Albert So

Practising Solicitor, Certified Anti-Money Laundering Specialist, Certified Financial Crimes Specialist, Arbitrator, Fellow of International Bar Association

Mr Albert So, practising solicitor of High Court of Hong Kong and the Chairman of Hong Kong Mediation and Arbitration Centre. Over the past years, he has been the Court Prosecutor (fiat) for the Department of Justice responsible for handling financial crime prosecutions, and has also been the program director and university lecturer of various law and mediation programmes in Hong Kong and overseas universities.

Before Mr So joined the legal profession, he had been one of the team members of a financial regulatory authority, responsible for conducting criminal investigation, handling litigation and disciplinary-related professional proceedings. Throughout his professional time as a regulator, he had personally handled over 800 financial disputes and their relevant litigations.

 

Mr Ronald Mak

Certified Public Accountant, Certified AML Professional
Citi – APAC AML Risk Management

Mr Mak possesses over 18 years of experience in the financial services industry and he joined HKU SPACE as part time teacher since 2018. In the current APAC AML Risk Management role, he oversees the Treasury and Trade Solutions business – with coverage including payment systems, collection services, trade finance, correspondent banking, payment intermediary and store value facility, etc. Prior to joining Citi, he was employed with PwC and KPMG advising various types of financial institutions.  He also led the AML team within the Intermediaries Supervision Department in Securities and Futures Commission.

 

Mr Kenny Ip

Retired Chief Superintendent of Police

Mr Ip has over 25 years of financial crime investigations experience including Commercial Crime Bureau and Interpol Paris Secretariat General, Finance and Economic Crime Group. He was the founder of JFIU and in-charge of Money Laundering Financial Investigation Unit for 9 years. He has testified as Expert Witness in money laundering criminal prosecution cases both in the court of HK and USA. He also organized professional training to officers both in Hong Kong, China and overseas on money laundering and terrorist financing matters. Upon retirement, Mr. Ip worked at HKMA Enforcement Department for a year before joining a local bank, Group Audit Department and Financial Crime Compliance Department responsible for designing and implementing solution on fraud and money laundering cases. Mr. Ip then joined another local bank working both in HK and Shanghai handling AML and Financial Crime Compliance management functions. Currently, Mr Ip teaches ECF AML/CFT Professional Level courses with HKU SPACE.

Application Code	2255-EP087A	Apply Online Now
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Module 1 – Regulatory Principles of Anti-Money Laundering and Counter-Terrorist Financing (30 hours)

1. International organizations for Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF)

• Financial Action Task Force
• United Nation
• Asia Pacific Group on Money Laundering

2. Legislations for AML/CTF in financial institutions

• Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance
• Drug Trafficking (Recovery of Proceeds) Ordinance
• Organized and Serious Crimes Ordinance
• United Nations (Anti-Terrorism Measures) Ordinance

3. Roles of different government authorities

• Financial Services and The Treasury Bureau
• Financial regulators: HKMA, SFC, OCI and C&E
• Hong Kong Police Force
• Joint Financial Intelligence Unit
• Narcotics Division

4. Mutual evaluation by Financial Action Task Force (FATF)

• Results of last mutual evaluation in 2008
• Preparation of next mutual evaluation in 2018

5. Regulatory framework

• Customer due diligence (CDD)
• Risk based approach for CDD
• CDD for individual persons / corporations
• Enhanced CDD for politically imposed persons
• Simplified CDD for public entities

6. AML/CTF Governance Model

• Compliance risk in AML/CTF
• Reporting lines and policy
• Communication of AML/CTF compliance

7. Reporting Suspicions

• International requirements
• Cross-border reporting issues
• Data protection requirements

8. Complex Money Laundering Typologies & Red Flags

• Product / service risk
• Distribution channel risk
• Country risk

 

Module 2 – Anti-Money Laundering Compliance Programme (30 hours)

1. Assessing Risk and Developing the Anti-Money Laundering and Counter-Terrorist Financing Risk Scoring Model

• Factors to assess risk level
• Geographical location and customer classification
• Risk level of your products or services

2. Elements of Anti-Money Laundering compliance programme

• Internal policies, procedures and controls
• Training in compliance
• Internal audit
• Compliance culture and senior management’s role
• Customer Due Diligence implementation

3. Suspicious Transaction Monitoring and Reporting I

• Suspicious customer behaviour and identification
• Suspicious cash transactions, non-cash deposits and wire transfer transactions
• Suspicious commercial account activity and credit transactions
• Suspicious investment trade

4. Suspicious Transaction Monitoring and Reporting II

• Suspicious trade financing records
• Suspicious employee behaviour
• Suspicious activity in currency exchange centres
• Suspicious activity in insurance transactions

5.  Law Enforcement Investigations

• Decision to prosecute
• Summonses and subpoenas
• Search warrants
• Orders to freeze accounts
• Dealing with investigators and prosecutors

6. Conducting the Investigation

• Organization of documents
• Employee interviews
• Attorney-client issues

7.  International Anti-Money Laundering Cooperation

• Mutual legal assistance treaties
• Financial intelligence units
• Financial Action Task Force recommendations on cooperation between countries

 

Module 3 – Financial Crime Compliance (15 hours)

1. Financial Crime and International Sanctions

• International sanctions regulations
• List-based programmes
• Sanctions evasion
• Sanctions screening
• Transaction monitoring of arms, ammunition, other embargoed materials

2. Anti-Bribery and Corruption

• Common forms of bribery
• Difference between bribery, corruption and facilitation payments
• Hong Kong Prevention of Bribery Ordinance
• Hong Kong Banking Ordinance
• UK Bribery Act
• US Foreign Corrupt Practices Act

3. Fraud and Internal Threats

• Financial statement fraud scenarios
• Rules of evidence
• Fraud control assessment
• Fraud investigation basics and outcomes
• Cyber and technology enabled financial crime
• Major red flag identification

4. Financial Crime Compliance and Risk Management

• Use of financial intelligence
• Suspicious transaction report analysis
• Managing risk across bank groups
• Application of adverse news

 

Module 4 – Anti-Money Laundering in Practice (15 hours)

1. Anti-money laundering risk assessment programme

• Risk assessment
• Anti-money laundering policy
• Reporting

2. Anti-money laundering implementation and compliance programme

• Management of regulatory expectation
• Effective detection and monitoring
• Common issues

3. Anti-money laundering Investigations

• Investigation basics and outcomes
• Interviewing
• International cooperation

4. Recent AML Case Studies in banking

Tentative Timetable

Module 1 - Regulatory Principles of Anti-Money Laundering and Counter-Terrorist Financing (30 hours)

Session	Date	Time
1	2 Nov 2024 (Sat)	4:00 pm - 7:00 pm
2	9 Nov 2024 (Sat)	4:00 pm - 7:00 pm
3	16 Nov 2024 (Sat)	4:00 pm - 7:00 pm
4	23 Nov 2024 (Sat)	4:00 pm - 7:00 pm
5	30 Nov 2024 (Sat)	4:00 pm - 7:00 pm
6	7 Dec 2024 (Sat)	4:00 pm - 7:00 pm
7	14 Dec 2024 (Sat)	4:00 pm - 7:00 pm
8	28 Dec 2024 (Sat)	4:00 pm - 7:00 pm
9	4 Jan 2025 (Sat)	4:00 pm - 7:00 pm
10	11 Jan 2025 (Sat)	4:00 pm - 7:00 pm

 

Module 2 - Anti-Money Laundering Compliance Programme (30 hours)

Session	Date	Time
1	11 Nov 2024 (Mon)	7:00 pm - 10:00 pm
2	18 Nov 2024 (Mon)	7:00 pm - 10:00 pm
3	25 Nov 2024 (Mon)	7:00 pm - 10:00 pm
4	2 Dec 2024 (Mon)	7:00 pm - 10:00 pm
5	9 Dec 2024 (Mon)	7:00 pm - 10:00 pm
6	16 Dec 2024 (Mon)	7:00 pm - 10:00 pm
7	23 Dec 2024 (Mon)	7:00 pm - 10:00 pm
8	30 Dec 2024 (Mon)	7:00 pm - 10:00 pm
9	6 Jan 2025 (Mon)	7:00 pm - 10:00 pm
10	13 Jan 2025 (Mon)	7:00 pm - 10:00 pm

 

Module 4 - Anti-Money Laundering in Practice (15 hours)

Session	Lecture Date	Time
1	8 Mar 2025 (Sat)	9:30 am - 1:00 pm
2	8 Mar 2025 (Sat)	2:00 pm - 6:00 pm
3	15 Mar 2025 (Sat)	9:30 am - 1:00 pm
4	15 Mar 2025 (Sat)	2:00 pm - 6:00 pm

 

Module 3 - Financial Crime Compliance (15 hours)

Session	Date	Time
1	12 Apr 2025 (Sat)	9:30 am - 1:00 pm
2	12 Apr 2025 (Sat)	2:00 pm - 6:00 pm
3	26 Apr 2025 (Sat)	9:30 am - 1:00 pm
4	26 Apr 2025 (Sat)	2:00 pm - 6:00 pm

 

Venue: HKU SPACE Po Leung Kuk Stanley Ho Community College (HPSHCC) Campus (at Causeway Bay) or other locations in Hong Kong Island. The above tentative timetable may be subject to change without prior notice.

Application Fee

HK$150 (non-refundable)

Course Fee

• - Module 1: Regulatory Principles of Anti-Money Laundering and Counter-Terrorist Financing $5,400
  
  - Module 2: Anti-Money Laundering Compliance Programme $5,400
  
  - Module 3: Financial Crime Compliance $2,800
  
  - Module 4: Anti-Money Laundering in Practice $2,800
  

Applicants shall:

1. hold a bachelor’s degree awarded by a recognized institution or equivalent; or
2. hold an Associate Degree / a Higher Diploma awarded by a recognized institution or equivalent and have 2 years work experience; or
3. hold relevant professional qualifications.

Applicants with other qualifications will be considered on individual merits.

Online Application Apply Now

Application Form Application Form

Enrolment Method

1. Please complete APPLICATION FORM and submit them in person at any of the following SPACE enrolment centre. Please refer to the SPACE enrolment centre for opening hours and address.
2. All applications must be accompanied by:

   a) Photostat copies of full educational certificates and transcripts.

   b) Testimonials or other documentary proof of the applicant's working experience.

   c) A separate non-refundable crossed cheque payable to “HKU SPACE” for HK$150 in respect of the application processing fee. Application fee and course fee can be paid by credit cards at HKU SPACE Enrolment Centres.

Note: When submitting your application in person at any of the HKU SPACE enrolment centres, please bring along the originals of your educational certificates / transcripts and documentary proof of working experience for certification at the enrolment centres. Late applications may only be considered at the discretion of the Course Director.

Payment Method

1. Cheque or bank draft

   Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify theprogramme title(s) for application and applicant’s name. You may bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres. Please refer to the SPACE enrolment centre for opening hours and address.

2. VISA/MasterCard

   Applicants may also pay the course fee by VISA or MasterCard, including the “HKU SPACE MasterCard”, at any HKU SPACE enrolment centres. Holders of the HKU SPACE MasterCard can enjoy a 10-month interest-freeinstalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.

 

Notes

1. Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, course fee will normally be reimbursed by a cheque, and fees paid by credit card will normally be reimbursed to the payment cardholder’s credit card account.
2. In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
3. Fees and places on courses cannot be transferred from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on approved transfers.
4. Receipts will be issued for fees paid but HKU SPACE will not be responsible for any loss of receipt sent by mail.
5. For additional copies of receipts, please send a stamped, self-addressed envelope with a completed form and a crossed cheque for HK$30 per copy made payable to ‘HKU SPACE’. Such copies will only normally be issued at the end of a course.
6. Classes are expected to be held at HKU SPACE learning centers. The health and safety of our students is our top priority. If the situation in Hong Kong requires. HKU SPACE reserves the right to move some classes to other locations, including online teaching platforms.