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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
- Defining AML and CFT: mechanisms and operational dynamics
- The criminalization of Money Laundering and Terrorist Financing, including offenses covered under Financial Crime Prevention legislation
- The evolution of Money Laundering from drug-related activities to corruption and terrorism
Global Response to AML and CTF
- The international community’s strategic response to AML and CTF following the 9/11 attacks
- Focus on the Financial Action Task Force (FATF):
- Membership structures and categories (including specific country memberships where applicable)
- The 40 Recommendations for AML and nine additional Recommendations for CTF
- The FATF’s role in shaping domestic and international legislative frameworks
Adhering to Anti-Money Laundering Laws
- International legal frameworks and local legislation applicable to the host country
- Comparative analysis with UK Regulations and Legislation, primarily The Proceeds of Crime Act 2002 (POCA)
Compliance Frameworks
- Establishing robust Internal Controls, Procedures, and Policies
- Collaboration with regulatory authorities and oversight bodies
- Implementation of Know Your Customer (KYC) and Identification and Verification (ID&V) protocols
- Strategic impact on Client Relations and Human Resources
Identification and Reporting of Suspicious Activities
- Understanding statutory duties and obligations
- Techniques for spotting suspicious transactions
- Procedures for internal and external reporting of suspicious activity
Detection Methodologies for Money Laundering
- Strategies for Prevention, Detection, and Due Diligence
- Utilization of Early-Warning Systems
Future Perspectives
- Identifying current emerging hotspots
- Forecasting future developments in AML and CTF
Additional Financial Crime Risks
- Fraudulent practices
- Cybersecurity and Information Security
- Market Manipulation and Insider Trading
- International Sanctions compliance
Requirements
No prior experience or qualifications 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.
