Certified Anti-Money Laundering Professionals

The menace of Money laundering and Terrorism financing has reached an alarming proportion globally, creating a huge risk to the financial system and infusing an unimaginable distortions in the economy on a global scale. Money Laundering has gained tremendous importance sequel to the 9/11 attacks on the World Trade Center in the US, thereby prompting various jurisdictions to enact anti-money laundering and anti-terrorism financing statutes. The essence is to prescribe compliance regime for the banking and financial services industry.

Therefore, the aims of the Certified Anti-Money Laundering Professionals compliance course is to prevent, deter, detect, and report money laundering activities globally and to equip the certification holders with relevant skills to comply with the relevant compliance requirements and to track and engage in Asset Tracing practices across jurisdictions.

CAMP is an Anti-Money Laundering (AML) Compliance Course designed to prepare holders with up to date legal and institutional compliance capabilities, both in banking and other financial services organizations. It covers money laundering and counter-terrorism activities focusing more on transactional and KYB, KYC, KYD, Due Diligence, Extra Due Diligence and Technology including Asset Tracing

Participants will sit for a Multiple Choice Examination consisting of 150 questions and are expected to score 90 marks to qualify. The Institute of Certified Forensic Accountant of USA & Canada is the certifying body and issuers of the Certificate.

Learning Objectives
At the end of this training session, participants will be able to:

• Define money laundering and terrorism financing
• Identify sources of laundered money,
• Discuss money laundering cycle;
• Identify agents of money laundering and terrorism finance
• Apply various methods of preventing money laundering and terrorism financing
• Describe how a Company / Bank and its Staff should protect themselves against Money Laundering?
• Discuss restrictions relevant to companies and banks
• Discuss and educate co-workers on the basic concept of money laundering and its various processes
• Safe-guard your companies from contraventions and regulatory penalties
• Identify the economic impacts of money laundering and terrorist financing on national and  international developments
• Examine the efficiency of international compliance standards to combat money laundering and terrorist financing
• Summarize the legal requirements and preventive measures to be adopted by developing countries to combat money laundering
• Discuss the various international measures to combat terrorist financing and incorporate the compliance and implementation of the FATF recommendations into their laws
• Evaluate financial records to find potential leads to money laundering and terrorist financing (CTF)
• Apply worldwide ALM regulations and laws
• Detect and block Money Laundering and terrorist financing transactions
• Discover the “red flags” that may help you recognize, prevent, and disclose any (suspect or actual) illegal conduct
• Assist in Asset Tracing Initiatives
• Face the Certified Anti-Money Laundering Professionals Exam with confidence

Syllabus for the Certified Anti Money laundering Professionals (CAMP)

Module 1        AML & CTF 101

• Introduction and definition of Money Laundering and Terrorist Financing
• Similarities and differences between terrorist financing and money laundering
• Reasons for Money Laundering by criminals.
• Consequences of Money Laundering,
• Activities that support Money Laundering,
• The Essential Stages in Money Laundering and Terrorist Financing
• Techniques of Money Laundering
• Money Laundering Process
• Different forms of Money Laundering
• Red flags of Money Laundering and Terrorist Financing
• What is KYB, KYC, KYD?
• Law relating to Money Laundering and terrorist financing
• Identification of Suspicious transactions
• Money Laundering in Business Organizations
• Buybacks
• Invoice scams
• Money laundering schemes examples
• Loans back schemes
• Smurf and modified transactions
• Banking-company transactions
• Shell industries
• Banking schemes
• Nominee scheme
• Company front scheme

Module 2        Money Laundering Activities & Legal Framework

• Technology and Electronic cash
• Financing of Terrorism
• Legal sources of terrorist financing
• Illegal sources of terrorist financing
• Macroeconomic impact of money laundering
• Money Laundering Risk
• Risk Based Approach in Money Laundering
• High Risk Countries
• High Risk Customers
• High Risk Products/Services
• Cross-border Accounts Deposits
• Payment Gateways and Wire transfers
• Features of IPO scams
• Factors facilitating the scams
• Money Laundering Statutes across jurisdiction
• Almighty USA Patriot Act
• Global Initiatives against Money Laundering
• International Money-Laundering Information Network (IMoLIN)/Anti-Money-Laundering International Database (AMLID)
• Enforcement of Anti-Money Laundering Rules
• The Money Laundering Tracking Software
• Wolsberg Principles on Correspondent Banking
• Risk Based Due Diligence
• Due Diligence Standards
• Shell Banks and Shell Companies
• Enhanced Due Diligence
• ALM laws and regulations
• European detectives

Module 3        Money Laundering Investigations, Compliance & Global Initiatives    

• Money Laundering Case Studies
• Investigative Tools
• Using records and books to establish culpability
• Analyzing financial documents for leads
• Analyzing the income statement
• Analyzing the balance sheet
• Direct Evidence and Circumstantial Evidence
• Tips and pitfalls
• Unusual activity in accounts
• How to identify red flag indicators
• How to use red flag indicators
• Examples of red flag indicators
• Building an Effective AML Program
• The duties and responsibilities of (AML, compliance, back or front desk officers) and how they are associated with the crime management life cycle
• United Nations resolutions
• The duty of the financial action task force (FATF)
• Statutory obligations
• Reporting of the suspicious transactions
• The importance of record-keeping
• The duty of MLRO
• Roles of companies or banks and people
• Developing a monitoring process
• Tipping off
• AI in AML
• Challenges in AML

Module 4        Asset Tracing

• Introduction to Asset Tracing
• Difference between money laundering and asset hiding
• Four phases of Asset Tracing
• Pre-investigative phase
• Investigative phase
• Judicial phase
• Disposal phase
• Potential sources of information for Asset Tracing
• Securing the Asset
• Enforcement of Orders
• Plaintiff’s option to petition the court
• Contributions of FIU in Asset Tracing
• Pro-active sharing of intelligence
• Personal contacts and networks
• Ability to institute an administrative freeze
• Auditors, Whistle Blowers, Media and Civil Society Reports
• Assets and Income declarations by Public Officials
• Intelligence Services

Module 5        Asset Tracing Practices

• Constituting the Asset Tracing Team
• Investigative Team
• Joint Investigations with Foreign Authorities
• Coordination and Timing
• Securing Evidence in Asset Tracing
• Creating the profile of the Target
• Checklist for Collection of Basic Targets Information
• Assets Tracing Case study
• Five Effective Questions to Use in an Investigation
• Information from government agencies – examine them
• Auditing agencies, Tax authorities, Real properties and Vehicle Registries
• Corporate or business registries and licensing board
• Ethics or Integrity office, civil records repositories
• Court records repositories
• Utilities
• Physical Surveillance
• Trash Runs and Mail Cover
• Interviews and Account Monitoring Orders
• Search and Seizure Warrant
• Sufficient Grounds for a Search Warrant
• Important Items to Seize
• Post-execution Requirements and preserving the evidence
• Documentation to Be Requested from Financial Institutions