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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)
- Navigating Money Laundering and Terrorist Financing
- Defining AML and CTF: mechanisms and operations
- The criminalization of money laundering and terrorist financing: categories of offenses under financial crime legislation
- The evolution of money laundering from drug-related activities to corruption and terrorism
Global Responses to AML and CTF
- The international community's approach to AML and CTF following the 9/11 attacks
- The role of the Financial Action Task Force (FATF):
- Membership classifications (including potential focus on specific national memberships)
- The 40 AML Recommendations and the additional 9 Recommendations concerning CFT
- FATF’s impact on shaping domestic and international regulatory laws
Adhering to Anti-Money Laundering Laws
- Overview of international regulations and local laws applicable in the course delivery region
- Reference to UK standards (for comparative context): primarily the Proceeds of Crime Act 2002 (POCA)
Implementation of Compliance Strategies
- Establishing internal controls, procedures, and policies
- Collaborating with regulatory authorities and oversight bodies
- Know Your Customer (KYC) and Identity & Verification (ID&V) protocols
- Strategic, client relationship, and HR implications
Detection and Reporting of Suspicious Transactions
- Legal obligations for reporting
- Techniques for identifying suspicious financial activity
- Protocols for internal and external reporting of suspect transactions
Techniques for Detecting Money Laundering
- Preventive measures, detection methods, and due diligence practices
- Implementing early-warning systems
Future Outlook
- Current “hot spots” in financial crime
- Future trends and developments in AML and CTF
Additional Financial Crime Areas
- Fraud prevention
- Information security
- Market manipulation and insider trading
- Sanctions compliance
Requirements
No prior experience or specific prerequisites are required.
Testimonials (1)
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
