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.

Course duration: 5 Days

Course Objectives

• Understand the fundamentals of money laundering and terrorist financing.
• Familiarize participants with global and local AML regulations.
• Identify key risks and red flags in financial transactions.
• Implement effective AML compliance programs.
• Conduct due diligence and Know Your Customer (KYC) processes.
• Develop strategies to monitor and report suspicious activities.
• Leverage technology and data analytics in AML compliance.
• Explore the role of governance and ethics in financial crime prevention.
• Understand penalties and legal consequences of non-compliance.
• Apply AML compliance through real-world case studies and scenarios.

Organizational Benefits

• Strengthened compliance with AML regulations and standards.
• Reduced exposure to financial crime risks.
• Enhanced reputation and trust among stakeholders.
• Improved efficiency in detecting and reporting suspicious activities.
• Better alignment with global regulatory expectations.
• Minimized legal penalties and fines for non-compliance.
• Empowered workforce with specialized AML knowledge.
• Increased use of advanced tools for fraud and risk management.
• Greater resilience to emerging threats in financial crime.
• Contribution to a more transparent and secure financial system.

Target Participants

• Compliance Officers
• Risk Management Professionals
• Financial Analysts and Advisors
• Internal Auditors
• Legal and Regulatory Professionals
• Banking and Financial Services Personnel
• Insurance Sector Employees
• Senior Executives in charge of compliance functions
• Law Enforcement and Anti-Corruption Officers
• Non-Financial Institution Representatives exposed to financial crime risks

Course Outline

Day 1: Introduction to Money Laundering

• Definition and process of money laundering.
• Stages of money laundering: Placement, Layering, and Integration.
• Importance of AML in the financial system.
• Key global and regional AML regulations (FATF, Basel, EU Directives, etc.).

Day 2: Regulatory Frameworks and Authorities

• Overview of global AML regulations.
• FATF recommendations and its impact.
• Role of regulatory authorities (e.g., FinCEN, FCA, AUSTRAC).
• Local AML laws and regulations.
• Penalties for non-compliance.

Day 3: Risk-Based Approach

• Understanding the risk-based approach to AML.
• Identifying and assessing AML risks.
• Customer risk assessment.
• Risk mitigation strategies.

Day 4: Customer Due Diligence (CDD)

• What is Customer Due Diligence?
• Types of CDD: Standard, Simplified, and Enhanced.
• Know Your Customer (KYC) requirements.
• Beneficial ownership identification.
• Ongoing monitoring of customers.

Day 5: Suspicious Activity Reporting (SAR)

• Identifying suspicious activities and transactions.
• Importance of reporting suspicious transactions.
• Filing Suspicious Activity Reports (SARs).
• Red flags and indicators of money laundering.
• Case studies of suspicious activity.

Day 6: Anti-Terrorist Financing (ATF)

• Difference between money laundering and terrorist financing.
• Methods used for terrorist financing.
• International efforts to combat terrorist financing.
• Risk indicators of terrorist financing.

Day 7: Financial Crime Prevention Tools and Technology

• Role of technology in AML compliance.
• Transaction monitoring systems.
• Artificial Intelligence (AI) and Machine Learning (ML) in AML.
• Blockchain and cryptocurrency risks.
• Digital identity verification.

Day 8: Internal AML Controls and Compliance Programs

• Establishing internal controls for AML compliance.
• Role of the compliance officer.
• Policies and procedures for AML compliance.
• Training and awareness programs for employees.
• Independent audits and reviews.

Day 9: Sanctions and Politically Exposed Persons (PEPs)

• Understanding sanctions and embargoes.
• Identifying and dealing with PEPs.
• Screening for sanctions and PEPs.
• Managing risks associated with PEPs.
• Case studies on sanctions violations.

Day 10: Case Studies, Practical Scenarios, and Wrap-Up

• In-depth case studies of money laundering cases.
• Interactive scenarios to test participants’ knowledge.
• Best practices in AML compliance.
• Key takeaways and future trends in AML.
• Wrap-up, Q&A session, and certification exam (if applicable).

Training Methodology

This course employs a participatory and hands-on approach to ensure practical learning, including:

• Interactive Lectures: Comprehensive sessions led by AML experts.
• Case Studies: Real-world examples to contextualize learning.
• Group Discussions: Collaborative problem-solving exercises.
• Role-Playing Scenarios: Simulating AML compliance situations.
• Workshops: Hands-on activities to design AML compliance frameworks.
• Assessments: Pre- and post-training quizzes and assignments to evaluate understanding.

This methodology ensures participants gain both theoretical knowledge and practical experience in AML compliance situations and frameworks, empowering them to excel in their respective roles.

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Register as a group from 3 participants for a Discount

Key Notes

• The participant must be conversant with English.
• Upon completion of training the participant will be issued with an Authorized Training Certificate
• Course duration is flexible, and the contents can be modified to fit any number of days.
• The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and a Certificate upon successful completion of Training.
• One-year post-training support Consultation and Coaching provided after the course.

Course Booking

Please use the “book now” or “inquire” buttons on this page to either book your space or make further enquiries.