Tensions throughout the world continue to escalate, financial institutions can expect even greater regulatory scrutiny of their anti-money-laundering compliance programs. In turn, it will become even more challenging to strike a balance between corporate responsibility to address AML issues and concerns about the budget and resources required to fulfil regulatory mandates. Recent world events reinforce the need for continued vigilance on the (Anti-Money-Laundering Strategies) AML front.

The pressure to do more to stop money laundering continues to increase, and the job of AML monitoring and compliance has grown more complicated. Today’s large banks process hundreds of millions of transactions each day, and growth continues unchecked. At the same time, financial crime schemes grow ever more sophisticated.

In this environment, financial services organizations will be wise to take a fresh look at their AML systems with an eye toward expanding automation, improving performance, standardizing processes, and increasing transparency. Firms that invest wisely can create a compliance environment that meets immediate and future AML requirements and serves as a platform for improving overall governance and risk management.

Duration:         5 days

Who should attend?

This programme is aimed at Investors, Bankers, Auditors, IT Personnel, Financial Consultants, Actuarial Professionals, middle and senior intelligence and security managers wanting to understand the key drivers of Money-Laundering, graft and vice in organisations

Course Outcomes: 

Upon completing this programme, the participants should be able to:

• Identify how crimes of money laundering and financial terrorism and perpetuated in the international community
• Understand and develop strategies to curb money laundering and financial terrorism across the globe and why it is a global sin
• Understand the link between money laundering, corruption and political instability especially in Africa
• Understand the modern-day strategies of EIMS (Enterprise Information Management System) to fight money laundering
• The importance of monitoring in tracking the movement of authorized or unusual transactions.

Course Content

Module I: Introduction

1. What is money laundering?

1. Why is money laundered?
2. How is money laundered?
3. What crimes generate property that can be laundered?

1. b. What forms of property can be laundered?
2. Terrorist financing

1. What is terrorist financing?
2. How does terrorist financing differ from money laundering?

1. Vulnerabilities of Financial Institutions to Money Laundering and Terrorist Financing

Module II: Money laundering risk analysis

1. Introduction
2. Money laundering risk analysis – Customer type
3. Money laundering risk analysis – Product / Service
4. Money laundering risk analysis – Geography
5. Money laundering risk analysis – Business Type
6. Money laundering risk analysis – Reputation, Sanctions
7. Money laundering risk analysis – Scenarios

Module III: Anti-Money Laundering (AML)

1. AML and the financial services industry
2. AML program architecture
3. AML program external environment
4. AML program components I (KYC / due diligence; activity reviews including automated and manual surveillance)
5. AML program components II (Screening, Investigations, Policies and Procedures)
6. AML program components III (Training, Risk Analysis, Risk Assessment)

Module IV: Conclusion

1. Link between money laundering, corruption and political instability in Africa.
2. Importance of monitoring in tracking the movement of authorized or unusual transactions.
3. Modern-day strategies of EIMS (Enterprise Information Management System) to fight money laundering

Methodology

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.