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Topics

  1. Purpose and scope of the Law
  2. Obligated entities and their duties under the Law
  3. Customer identification and verification
  4. One-time transactions and establishing business relationships with clients
  5. Establishing business relationships and the “Know Your Customer” (KYC) standard – KYC updates and frequency
  6. Determining customer risk levels using a risk-based approach – risk categories and factors
  7. Re-assessment of customer risk levels
  8. Preventive measures: simplified, standard, and enhanced
  9. Examination of legal entity structures
  10. Identification and verification of beneficial owners
  11. Customer screening process using international databases
  12. Politically exposed persons (PEPs), their family members and associates – identification and significance in AML compliance
  13. International financial sanctions
  14. Identification of sanctioned persons
  15. Suspicious transaction scenarios and detection mechanisms
  16. Process for submitting Suspicious Transaction Reports (STRs) to the Financial Monitoring Service of Georgia
  17. Case studies and tests