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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)
- Foundations of Money Laundering and Terrorist Financing
- Defining AML and CTF: mechanisms and operations
- The legal criminalization of Money Laundering and Terrorist Financing, including offenses covered under Financial Crime Prevention legislation
- The evolution of Money Laundering from drug trafficking to corruption and terrorism
Global Response to AML and CTF
- The International Community’s stance on 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 relevant)
- The 40 Recommendations for AML and the additional 9 Recommendations for CTF
- FATF’s impact on domestic and international legal frameworks
Adhering to Anti-Money Laundering Laws
- Review of international regulations and specific legislation applicable to the delivery location
- Comparison with UK Regulations and Legislation, primarily The Proceeds of Crime Act 2002 (POCA)
Strategies for Compliance
- Establishing Internal Controls, Procedures, and Policies
- Collaboration with Regulatory Authorities and Bodies
- Implementation of Know Your Customer (KYC) and Identification and Verification (ID&V) rules
- Assessing the impact on Corporate Strategy, Client Relationships, and Human Resources
Identifying and Reporting Suspicious Activity
- Understanding Statutory Obligations
- Techniques for Identifying suspicious transactions
- Protocols for Internal and External reporting of suspicious transactions
Methods for Detecting Money Laundering
- Strategies for Prevention, Detection, and Due Diligence
- Utilizing Early-Warning Mechanisms
Future Outlook
- Current trends in high-risk areas ('hotspots')
- Future directions for AML and CTF practices
Additional Financial Crime Areas of Concern
- Fraudulent Activities
- Information Security
- Market Manipulation and Insider Trading
- International Sanctions
Requirements
No prior experience or 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.
