This practical course gives you the knowledge and necessary guidance on how to approach Anti-Money Laundering (AML) compliance within your organization.  The course follows international best practices in AML and covers both Anti-Money Laundering and Counter-Terrorism Finance (CTF) Frameworks. 

This course is ideal for professionals seeking to learn how to identify and combat money laundering activities and protect their organizations. Both participants with no previous AML experience and participants seeking AML certification benefit from this course. 

Course Methodology 

This course is highly interactive with facilitator-led presentations, group discussions and real/ current case studies. 

Course Objectives 

By the end of the course, participants will be able to: 

• Understand international money laundering standards and the participants' role as Anti-Money Laundering Officers or Money Laundering Reporting Officer (MLRO) within their organization. 
• Establish a risk-based approach to AML, the AML/CTF Framework, business risk assessments, and suspicious activity reports. 
• Assess customer, product, and jurisdictional risk, and identify red flags. 
• Develop methods for training and culture to identify and combat money laundering activities related to their organization. 

Target Audience 

This course is suitable for Compliance Officers, AML Officers, Money Laundering Reporting Officers (MLROs), Know Your Customer (KYC) analysts, auditors, and any other professionals with responsibilities for financial compliance within their organization.  

Target Competencies 

• Investigations 
• Operational compliance 
• Decision making 
• Stakeholder communications 
• Problem-Solving 

Course Outlines 

Introduction to Money Laundering 

• Explanation of Money Laundering Laws 
• International standards 
• Wolfsberg principles 
• Office of Foreign Assets Control (OFAC) 
• Financial Services Authorities (FSA)  

The Role and Responsibilities of a MLRO 

• Money Laundering Reporting Officer(s) - MLRO 
• The role of the MLRO 
• The Annual AML Return 
• Training and Awareness 
• Risk Based Approach 

AML in the workplace 

• AML policy 
• Business Risk Assessment 
• Customer Risk Assessment 
• Customer Due Diligence (CDD) 
• Politically Exposed Person (PEP) 
• Enhanced Due Diligence (EDD) 
• Source of Funds and Source of Wealth (SOF, SOW) 

Monitoring and Screening 

• Monitoring Customers 
• Monitoring Transactions 
• Sanctions 
• Screening Employees 

Culture and Awareness 

• Awareness Campaign 
• Role-based training 
• Corporate culture 

Warnings and Escalations 

• Examples of warning signs 
• Record keeping 
• Internal Escalation Process 
• Suspicious Activity Reports 

Tax Evasion and Issues

• Tax Evasion 
• Tax Avoidance 
• US Foreign Account Tax Compliance Act (FATCA) 
• Ensuring compliance