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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)
- Foundations of Money Laundering and Terrorist Financing
- An overview of AML and CFT: definitions and operational mechanics
- The criminalization of Money Laundering and Terrorist Financing, including the categories of offenses covered by Financial Crime Prevention laws
- The evolution of Money Laundering schemes from drug-related proceeds to corruption and terrorism
International Response to AML and CFT
- The global community's approach to AML and CFT following the 9/11 events
- Focus on the Financial Action Task Force (FATF):
- Membership structures (including specific country membership details)
- The 40 Recommendations for AML and the additional 9 Recommendations for CFT
- The influence of FATF on domestic and international legislative frameworks
Adherence to Anti-Money Laundering Laws
- Review of international legislation and laws applicable in the country where the course is conducted
- Comparison with UK Regulations and Legislation, specifically The Proceeds of Crime Act 2002 (POCA)
Compliance Strategies
- Establishing Internal Controls, Procedures, and Policies
- Collaboration with Regulatory Authorities and Supervisors
- Know Your Customer (KYC) standards and Identification and Verification (ID&V) protocols
- Impact of compliance on corporate strategy, client relationships, and human resources
Identification and Reporting of Suspicious Transactions
- Understanding Legal Obligations
- Techniques for identifying suspicious transactions
- Procedures for internal and external reporting of suspicious activities
Money Laundering Detection Methodologies
- Strategies for Prevention, Detection, and Due Diligence
- Implementing Early-Warning Mechanisms
Future Outlook
- Identifying current 'hotspots' in financial crime
- Anticipating the future trajectory of AML / CFT efforts
Other Key Areas of Financial Crime
- Fraud Prevention
- Information Security
- Market Abuse and Insider Dealing
- International Sanctions
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.
