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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CTF)
- Foundations of Money Laundering and Terrorist Financing
- Defining AML and CTF and understanding their operational mechanisms
- The criminalization of money laundering and terrorist financing, including the specific offenses covered under financial crime prevention laws
- The evolution of money laundering schemes from drug trafficking to corruption and terrorism
The Global Response to AML and CTF
- Post-9/11 international initiatives to address AML and CTF challenges
- Focus on the Financial Action Task Force (FATF):
- Breakdown of membership categories (including analysis of specific country memberships)
- Review of the 40 AML Recommendations and the additional 9 Recommendations on CTF
- Examination of FATF's impact on both domestic and international regulatory frameworks
Adhering to Anti-Money Laundering Laws
- Overview of international legislation and local laws relevant to the course location
- Comparison with UK regulations, primarily focusing on The Proceeds of Crime Act 2002 (POCA)
Developing Effective Compliance Strategies
- Implementation of internal controls, standard operating procedures, and corporate policies
- Strategies for collaborating with regulatory bodies and law enforcement authorities
- Application of Know Your Customer (KYC) and Identification and Verification (ID&V) protocols
- Evaluating the impact of AML/CTF requirements on business strategy, client relationships, and human resource management
Identification and Reporting of Suspicious Activity
- Understanding legal obligations for reporting
- Techniques for recognizing suspicious transactions
- Processes for internal escalation and external reporting of suspicious activities
Advanced Money Laundering Detection Methods
- Integrating prevention measures, detection tools, and due diligence practices
- Utilizing early-warning systems and indicators
Future Trends in AML and CTF
- Identifying current high-risk areas in the financial sector
- Forecasting future developments and requirements in AML and CTF compliance
Additional Areas of Financial Crime
- Fraud prevention and detection
- Information security best practices
- Market abuse and insider trading regulations
- Navigating sanctions and embargo requirements
Requirements
There are no prerequisites for 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.
