Course Description

The scope and intensity of anti-money laundering (AML) regulations is increasing around the world. A wide range of financial institutions and other businesses involved in financial and cash transactions will be included under these regulations and need to substantially enhance their AML compliance capabilities. Among other compliance requirements, these institutions must develop and implement AML training.

Course Objectives

·         Describe money laundering and the challenges and risks involved in combating it

·         Recognize the key stages in money laundering and the principal techniques 

·         Gain insight into how to establish and use customer profiles

·         Identify and report on suspicious activities

·         Articulate the objectives and principal elements of a "Know Your Customer” policy

·         Describe the key processes and technologies to fight money laundering

·         Comprehend local AML regulations and key reporting requirements

Who Should Attend?

·         Managers

·         Auditors

·         Commercial Bankers

·         Financial and Accountants officers

·         Officers who need a comprehensive understanding of AML best practices.

PROGRAM TOPICS

·         Introduction to Money Laundering

·         Define money laundering

·         Identify the principal sources of laundered money 

·         Identify the reasons why criminals launder money 

·         Recognize the consequences of money laundering 

·         Stages of Money Laundering

·         Define the stages of money laundering: placement, layering, integration 

·         Placement Techniques

·         Identify the principal techniques used in the placement stage of money laundering

·         Recognize different placement techniques  

·         Layering Techniques

·         List the techniques used in the layering stage of money laundering

·         Recognize different layering techniques 

·         Integration Techniques

·         List the principal techniques used in integration

·         Recognize different integration techniques 

·         Know Your Customer Basics (KYC )

·         Define the KYC policy 

·         Identify the principal elements of the KYC policy 

·         Identify the risks of not implementing the KYC policy

·         Customer Profiling

·         Objectives of customer acceptance in a KYC policy

·         Objectives of customer identification in a KYC policy

·         Understand the typical higher risk and lower risk customer profiles

·         Recognize higher risk and lower risk customer profiles

·         Nature and impact of blacklists

·         Recognizing Suspicious Activities

·         Define and classify suspicious activities

·         Recognize suspicious activities

·         Identify key elements of reporting and record keeping

·         A list of suspicious activities is provided.

·         AML (anti-money laundering) Technologies

·         Describe the principal technologies used to detect money laundering

·         Identify the major functions of such money laundering detection technologies