Anti-Money Laundering (AML)
Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME
Who should attend?
- Delegates in the financial services sector who must have knowledge of this subject.
- Delegates in non-financial sectors who need to understand their exposure to money laundering
- Government officials who need to understand the impact of money laundering on financial issues and policies
- Junior Managers, Fresh Graduates & Final Semester Students to acquire a promising career in a reputable organization.
- Define money laundering and explain how it works
- Be aware of anti-money laundering regulation and international financial crime compliance standards
- Take to the workplace proportionate and sophisticated action plans and processes for combating financial crime and fraud
The Scope of Money Laundering
- What is money laundering?
- How money is laundered
- The money laundering offences
- How money laundering destroys value
- Terrorist financing
- International Bodies and Standard Setters
- National Regulatory Frameworks
- The impact of the FATF standards and recommendations on domestic frameworks
- Industry and professional guidance
- Examples of other jurisdictions
The Risk-based Approach
- What is a risk-based approach?
- FATF guidance on the risk-based approach
- Determining the risks
- Implementing a risk-based approach
- The role of the money laundering reporting officer
- Tool 1: KYA (Know Your Assets)
- Tool 2: KYB (Know Your Business)
- Tool 3: KYC (Know Your Customer)
- Tool 4: CDD (Customer Due Diligence)
- Tool 5: EDD (Enhanced Due Diligence)
- Tool 6: SDD (Simplified Due Diligence)
Recognising and Reporting Suspicions
- The international requirements
- Currency transaction reporting
- What is meant by suspicion and reasonable grounds to suspect?
- What constitutes suspicious activity?
- The SAR/STR process and its documentation