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Duration 14 hours
Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)
- Fundamentals of Money Laundering and Terrorist Financing
- Defining AML and CTF: Mechanisms and operational dynamics
- The criminalization of Money Laundering and Terrorist Financing, including offenses covered by Financial Crime Prevention laws
- The evolution of Money Laundering schemes from drug trafficking to corruption and terrorism
Global Response to AML and CTF
- The international community’s reaction to AML and CTF following the 9/11 attacks
- Focus on the Financial Action Task Force (FATF):
- Membership structures (potentially including specific country memberships)
- The 40 Recommendations on AML and the additional 9 Recommendations on CFT
- FATF’s impact on domestic and international legislative frameworks
Adherence to Anti-Money Laundering Laws
- International statutes and local legislation applicable to the course’s delivery location
- UK Regulations and Legislation (for comparative analysis): Primarily the Proceeds of Crime Act 2002 (POCA)
Compliance Frameworks
- Establishing internal controls, procedures, and policies
- Collaborating with regulatory bodies and authorities
- Implementing Know Your Customer (KYC) and Identification and Verification (ID&V) protocols
- Strategic implications for client relationships and human resources
Identification and Reporting of Suspicious Transactions
- Legal obligations regarding reporting
- Mechanisms for identifying suspicious transactions
- Processes for internal and external reporting of suspicious activities
Detection Methodologies for Money Laundering
- Strategies for prevention, detection, and due diligence
- Implementation of early-warning systems
Future Outlook
- Current hotspots in financial crime
- Trajectories for future AML/CFT developments
Additional Financial Crime Areas
- Fraud prevention
- Information security
- Market abuse and insider trading
- Sanctions compliance
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.
