AFB Financial Crime Masterclass: Correspondent Banking (Mitigating the Risks in Respondent Relationships)

This masterclass is designed to provide attendees who manage respondent relationships with greater confidence in assessing the risks in new and existing relationships, and to identify higher risk relationships and transactions.

Attendees will be provided with a review of legal and regulatory responsibilities from the USA and UK, and best practices from the JMLSG Guidance and the Wolfsberg Group Guidance.

The workshop will provide a comprehensive summary and update on how to manage risks so that members can continue to provide respondent services to branches, subsidiaries, and parent groups in overseas territories. Delegates will be supported with practical notes, working templates and risk assessment exercises to ensure that the session is highly interactive, and outcomes focussed.

Course content

Introduction to Correspondent Banking and financial crime risk awareness, including:

• Payable Through Accounts
• Shell Banking
• Offshore Banking Licenses

Laws and Regulations

• USA
• UK
• Wolfsberg Group Guidance
• JMLSG Guidance

How to conduct due diligence of a respondent bank

Case study analysis of regulatory failure, good and poor practices

Identifying the risks in respondent relationships and transactions

Course structure

• In person and instructor led
• 3 hours of learning
• Case study analysis
• Working templates
• CPD credits for any session attended

Learning Outcomes

By the end of this session, you will be able to:

• Define the importance of correspondent banking products and the impact of de-risking on worldwide social and economic development
• Describe the risks in respondent relationships, and the very latest correspondent banking- related financial crime risks including sanctions evasion, laundering the proceeds of crimes including fraud, bribery, and corruption
• Explain some of the key laws and regulations that define corresponding banking risk management roles and responsibilities, including the US Patriot Act
• Analyse the key findings from recent case enforcement action from the UK and USA
• Outline the framework of good governance that a firm should have in place to manage and mitigate the risks in respondent relationships
• Report your concerns and suspicions according to the requirements of the Proceeds of Crime Act and other applicable laws

Who should attend?

• Relationship Managers and employees responsible for developing overseas relationships
• Risk and compliance with responsibility for managing respondent relationships
• Financial crime professionals with responsibility for financial crime policies and procedures
• Line two and line three risk management officers including Internal Auditors
• MLRO, DMLROs and nominated officers
• Members of the Board and risk committees

Logistics

Venue:        In-person, Central London venue
Date:          Wednesday, 24 September 2025
Time:          09:00 – 12:30 (Registration and light breakfast from 09:00)
Price:          £400 plus VAT

For further information including any questions around booking please contact secretariat@foreignbanks.org.uk