Combating money laundering in insurance

Bucharest 08 November 2018 - 09 November 2018

Trainer: Alexandru Codescu


The course is a detailed instruction about the standards, legal requirements and national and international requirements applicable in the field of combating money laundering (AML) / Combating Financing of Terrorism (CFT), being included also issues concerning institutional responsibilities held in this area by the competent authorities.
In terms of specific implications course shows punctual all the obligations and responsibilities of financial companies, officers of Conformity or its designees, while focusing issues specific operational elements indicative and institutional culture of AML / CFT.
The course is structured as a specialized training that can be done by all those who directly or tangentially in this area, particularly in light activity within financial firms.
The analytical approach of the course involves developing a comprehensive framework for specialized AML / CFT both in terms of how interpretation / implementation of specific legal requirements, and in terms of developing skills and competencies in this area.

Target group

The training program is addressed, without limitation, to:

  • persons within the reporting entities with responsibilities in the implementation of and compliance with legal requirements (compliance officers and persons appointed);
  • Persons who have responsibilities in internal control of a company;
  • people who work in the economic / financial department of a company;
  • auditors, consultants or others with similar qualities (professional).

Course objectives

  • provides the necessary knowledge for understanding the phenomenon of money laundering and terrorism financing, in terms of culture profile and of specific preventive measures;
  • ensures an adequate level of awareness of the risks in this area;
  • aimed at acquiring mechanisms for monitoring and the necessary analytical capacity;
  • presents the relevant legislation, modules of interpretation and correlation of regulations;
  • presents the regime of international sanctions, applicability and subsequent responsibilities;
  • creates the prerequisites for proper identification and analysis of suspicious transactions of money laundering and terrorism financing in insurance and the compliance of reporting requirements thereof;
  • provides the necessary knowledge for the proper application of customer due diligence measures (customer due diligence), ESD or SDD measures (enhanced due diligence / simplified due diligence);
  • presents legal obligations in relation to the identification of the real beneficiaries (UBOs), verifying customer information obtained from intermediaries (third parties), etc;
  • provides skills in the field.



  • The main bodies of the AML / CFT
  • International Standards Profile
  • Obligations of states and systems / financial jurisdictions in this area


  • Primary legislation
  • Secondary legislation (sectoral regulations)
  • Next Steps (implementing Directive IV AML)


  • The scope of responsibility and operational elements (structural)
  • Interpretation of legal obligations in the AML / CFT
  • Analytical capacity and reactive measures
  • Analytical modules, profile and risk indicators - customers / transactions
  • Case studies and typologies


Alexandru CODESCU- Money Laundering Prevention Service - Chancellery of the President FSA

Mr. Codescu through his position, coordinates the activity meant to prevent money laundering and financing of terrorism carried out by ASF for all three financial sectors surveyed.
Prior to the current position of the A.S.F. Mr. Codescu held the position of Director of Surveillance and Control of the National Office for Prevention and Control of Money Laundering, is representative of this institution which several institutional bodies. Between 2009 - 2013, Mr. Codescu held in the Council of Europe as member of the Standing Bureau of the MONEYVAL Committee (Committee of Experts on the Evaluation Measures for Combating Money Laundering and Financing Terorimului by exercising two consecutive terms granted by the vote expressed by Member States. During the work performed in this area, he participated in over 50 international missions of the Council of Europe, European Commission, Financial Action Task Force (FATF), the International Monetary Fund, World Bank, OSCE, etc. as an expert appraiser and / or the report.Currently, Mr. Codescu is a member or representative groups in almost all international profile of the European Commission or the European Supervisory Authorities.

Duration / Period

The program will take place  in the following time interval:

  • Wednesday, 17/10/2018, between 09:00 - 17:00
  • Thursday, 18/10/2018, between 09:00 - 17:00
  • Friday, 19/10/2018, between 09:00 - 13:00


The investment for this program is of 600 lei + VAT/participant.

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