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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
- Fundamentals of Money Laundering and Terrorist Financing
- Defining AML and CTF: their mechanisms and operational realities
- Legal frameworks criminalizing Money Laundering and Terrorist Financing, including the scope of offenses covered under Financial Crime Prevention laws
- The historical trajectory of Money Laundering, evolving from drug trafficking to corruption and finally to terrorism
Global Responses to AML and CTF
- International community initiatives addressing AML and CTF following the 9/11 events
- Key role of the Financial Action Task Force (FATF):
- Membership structures (potentially including analysis of specific national affiliations)
- Review of the 40 Recommendations for AML and the additional 9 Recommendations concerning CTF
- FATF’s impact on shaping domestic and international regulatory landscapes
Adhering to Anti-Money Laundering Laws
- Overview of international statutes and local legislation relevant to the course delivery location
- Reference to UK Regulations and Legislation (such as The Proceeds of Crime Act 2002 / POCA) for comparative insight
Developing Compliance Strategies
- Establishing robust Internal Controls, Procedures, and Policies
- Engaging effectively with Regulatory Authorities
- Implementing Know Your Customer (KYC) and Identification and Verification (ID&V) standards
- Evaluating the impact of these measures on corporate strategy, client engagement, and Human Resources
Detecting and Reporting Suspicious Activities
- Understanding legal and statutory reporting duties
- Techniques for recognizing suspicious transactions
- Processes for internal escalation and external reporting of irregularities
Techniques for Identifying Money Laundering
- Best practices in Prevention, Detection, and Due Diligence
- Utilizing Early-Warning Systems
Future Outlook
- Identifying current risk hotspots in the financial landscape
- Anticipating future trends and developments in AML and CTF
Additional Financial Crime Risks
- Business and Insurance Fraud
- Cybersecurity and Information Protection
- Market Manipulation and Insider Trading
- International Sanctions Compliance
Requirements
No prior experience or specific qualifications are required to join this course.
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.
