Description
Attend and earn 0.5 CPD hour
* This interactive online recording includes questions and quizzes requiring critical thinking about the topics, so you have no annual limits to the number of points/hours you can claim with this format of learning. Please verify with your CPD rules
Chair
Will Irving, Partner, Russell McVeagh
Money Laundering in Disguise: How Law Firms Unknowingly Assist Criminal Organisations in their Money Laundering Activities
As today’s money laundering strategies evolve beyond outdated stereotypes of cash transactions, criminals now leverage sophisticated structures and professional networks to maintain legitimacy and avoid detection. Learn:
- Why does a money launderer need a credible law firm?
- Professional money launderers: the new wave of financial criminal
- Profile of a professional money launderer: no tattoo in sight!
- Beyond trust accounts: while trust accounts were once a focus, criminals today leverage law firms more for legitimacy than for financial services. We’ll examine how this shift affects AML/CFT protocols within legal practices
- Red flags for law firms
- Practical steps to assist law firms in their AML/CFT efforts to identify clients involved in money laundering
Presented by Royden McGee, CAMS, Consultant AML/CFT Audit and Training, Moore Markhams
Learning Objectives:
- Identify how sophisticated money laundering operations exploit legal services and what red flags lawyers should watch for
- Understand practical AML/CFT measures law firms can implement to reduce risk and comply with regulatory obligations
Presenters
Royden McGee, CAMS, Consultant AML/CFT Audit and Training, Moore Markhams
Royden provides specialist advice, training and audit services to AML/CFT reporting entities and business associations. Prior to moving into the world of AML, Royden completed a 30-year career with Inland Revenue which included 16 years leading teams investigating Tax and financial crime including fraud and money laundering. It was during this period, that he was also part of a team that trained police detectives and other NZ government agencies from NZ, Australia and the pacific islands on a week-long ‘Investigating money laundering’ course held twice a year at the police college in Wellington. The sum of Royden’s experience gives him a unique perspective with being involved in both reporting entity AML/CFT compliance and the investigation of money laundering offences.
Will Irving, Partner, Russell McVeagh
Will is a partner in Russell McVeagh's litigation practice, based in the Auckland office. Specialising in commercial litigation, his expertise spans financial services, regulatory enforcement, and disputes involving property, tax, and ICT. His experience includes acting for financial institutions in investigations by New Zealand’s financial regulators, with a particular focus on the Anti-Money Laundering and Countering Financing of Terrorism Act, the Credit Contracts and Consumer Finance Act, and the Financial Markets Conduct Act. He has represented clients in significant cases, including acting for Tiger Brokers in proceedings brought by the FMA in relation to AML/CFT Act compliance. Will’s accolades include recognition in the Best Lawyers® New Zealand 2024 Guide for Arbitration and Mediation and Litigation, and he was named a Rising Star in 2020 by NZ Lawyer magazine.
