This Anti-Money Laundering (AML) Compliance Masterclass is designed to improve the fundamental skills required to assist your company in anti-money laundering and counter-terrorism finance, as well as how to stop, detect, and report money laundering activities.
This training course covers the regulatory background and focuses on the importance of Know Your Customer (KYC), Customer Due Diligence (CDD), sanctions monitoring, and the reasonable performance of the Money Laundering Reporting Officer.
You will research the AML risks associated with emerging industry divisions.
This is a rigorous and highly effective training program that will teach you how to avoid money laundering and the laws that make it a crime. It will improve your understanding of financial crime risks, global laws and regulations, laws and regulations applicable to your jurisdiction, and the rules and controls in place to detect and prevent financial crime.
This training course also addresses several issues concerning the nature of the financial services industry's services and products (namely, managing, controlling, and possessing money and property belonging to others), which makes it vulnerable to misuse by money launderers and the phases of money laundering and forces undertaken to combat terrorism, including regulations that govern financial institutions.
Course Objectives Anti-Money Laundering (AML)
By the end of this training course, you will be prepared to understand:
The manner of Money Laundering
Statutes applicable to firms/banks
FATF uses in Anti-Money Laundering
The disciplines for non-compliance with AML legislation
How Anti-Money Laundering and Countering Terrorist Financing (CTF) might be limited
How to determine how a Firm / Bank and its staff should protect themselves against the risks of Money Laundering and Terrorist Financing
Due diligence standards to deter money laundering and terrorist financing
The “red flags” might assist you to recognize, prevent and report any (suspicious or actual) criminal action
The implications of foreign financial center on ML
Course Methodology of Anti-Money Laundering (AML)
Participants in this training course will get a sketch of the best manners of competing Anti-Money Laundering and terrorist finance. The training methodology involves case studies, group live instruction, presentation, and ongoing discussion of worked cases, videos, group discussions, and interactive sharing is supported.
Organizational Impact of Anti-Money Laundering (AML)
This training course is of direct relevance to Anti-Money Laundering (AML) and as a result, the companies will profit greatly from their employee’s participation. The company will develop from:
More efficient care for Anti-Money Laundering (AML) team
Greater significance and reliability of dissolving the regulatory
More strategic thinking and concentrate on achievement
More efficient use of identifying high-risk indicators
Qualification of staff for improved responsibility
Personal Impact of Anti-Money Laundering (AML)
This training course will be of personal benefit to participants by presenting you with:
Understanding Money Laundering, Terrorist Financing, and Commands
Vulnerabilities of financial institutions to money laundering and terrorist financing
Anti-money laundering and combating terrorist financing – legal and regulatory structures
Management responsibilities and the risk-based way to money laundering and terrorist financing
Greater knowledge of industry exercises, problems, and solutions
Raised understanding and assurance to complete tasks strongly
Improved self-confidence and motivation at work
Greater job achievement in providing quality support to management
Greater knowledge to manage, develop and motivate colleagues
The construction of the Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF) regime in your jurisdiction
Your access into the Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF) management
Designated remittance service classifications and correspondent banking
Recording of certain transactions, and record-keeping
Consequences to you for not complying with your responsibilities
Who Should Attend
This training course is planned to deliver the experience and skills, implementing details of the latest policies and methods to:
Staff with specific anti-money laundering obligations
All Staff working in financial services who need an entrance to anti-money laundering
Anyone who operates within the regulated financial divisions, or to a career in anti-money laundering or fraud prevention
Consultants
Treasury Managers
Auditors
Lawyers
Regulator or Advisor of Product / Services
Credit Managers
Course Outline
DAY 1
Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
Why the Current Focus on Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)?
Money Laundering & the Financing of Terrorism Definitions
Differences and Similarities between Money Laundering and Terrorist Financing
Key Stages of Money Laundering
Typologies & Techniques of Money Laundering
Indicators of Money Laundering
Products and Services Vulnerable to Money Laundering or Terrorism Financing
Money Laundering Trends in (Jurisdiction)
DAY 2
The International Organizations of Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)
The International bodies’ response to Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
The International Measures to Prevent Money Laundering and Financing of Terrorism
The Complex and Interrelated Risks with Respect to Money Laundering and Sanctions
FATF and Its Roles of Anti-Money Laundering (AML)
Customer Policies and Procedures
International Legislation and Legislation Applicable to Your Jurisdiction
The Wider Context for Financial Crime Risk and Regulation in which Your Firm Operates
The Role and Responsibilities of (Front / Back Office / AML / Compliance Officer), and How these fit within the financial crime risk-management life cycle?
DAY 3
Compliance Strategies
Jurisdiction Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
Laws and Regulations
The Requirements for Robust Anti-Money Laundering Operations, Internal Controls, Procedures, and Policies
Cooperation with the Authorities and the Regulators
Know Your Customer (KYC) and ID&V Rules
Market Abuse and Insider Dealing
Client Relations and Human Resources Strategies
The Relevant Laws and Regulations in Your Jurisdiction, The International Standards and The Role of Law Enforcement
DAY 4
Recognizing and Reporting Suspicious Transactions
Statutory Obligations
Identifying Suspicious Transactions
Internal and External Reporting of Suspicious Transactions
Identifying High-risk Indicators - Understand what to do with the information and whom to escalate it to
The Role of the MLRO
The Importance of Record Keeping
Responsibilities of Firms / Banks and Individuals
Setting-up Monitoring Procedures
DAY 5
Money Laundering Detection Techniques
Prevention, Detection and Due Diligence
Early-Warning Mechanisms
Designing Money Laundering and Terrorist Financing Risk Assessments
Applying to Know Your Customer (KYC) & Customer Due Diligence (CDD )
Risk Management of Politically Exposed Persons (PEPs)
