Anti-Money Laundering and Combating Terrorism Financing

AML Concepts, Customer Due Diligence Principles, Controls and Procedures

Ratings: 4.29 / 5.00




Description

[March 2023 Update]

  • Modules subtitled in six (6) languages - Dutch, French, Japanese, Portuguese, Simplified Chinese, Turkish

  • Added module on State capture and money laundering.

  • Updated general content and added Money Laundering and Terrorism Financing modules, more details on the three + 1 topics (KYC, CDD, EDD & AML Risk, including quizzes, case studies and assignments.

  • Bonus Resources include- Wolfsberg AML Principle on Political Exposed Persons (PEPs)

This course is a five-series topic covering the fundamentals or concepts of AML/CFT compliance. The course aims to enable students not just to be able to describe money laundering and terrorist financing; but also to understand predicate offenses, customer due diligence, and risk. The knowledge to be gained will build students' job-related confidence. This course will cover definitions, concepts, and processes that you will need to plan your policies, among other things. These will extensively address the following.

  1. Introduce you to money laundering (ML) and terrorism financing (TF). It will also explain how these two illegal activities are related. Taught in a thorough but straightforward explanatory style which will cover

    • The art of disguising laundered money, a brief history of Money Laundering and lesson on state capture, tax havens. 

    • How ML/TF are committed; learn about predicate crimes

    • Learn about an uncommon type of terrorism - Eco-terrorism in terms of its nature, history, philosophical justifications of its perpetrators, and some of the tactics used by "eco-terrorists.

    • What is Know-Your-Customer (KYC)? Why KYC is necessary, why financial institutions like banks, insurance companies and others are easy Money Laundering targets.   

  3. Financial and non-institutions must go beyond just identifying their customers to familiarize themselves with the right processes and learn about the KYC guidelines.

  4. Under Customer-Due-Diligence (CDD), we will define CDD and differentiate between KYC and CDD. We will also explain why CDD is Important and what best standards are available.

  5. We will examine the essentials of a proper KYC/CDD strategy and why we need a good plan.

  6. Under Enhanced-Due-Diligence (EDD) - what is it all about and when is it applied, how do you de-escalate enhanced risk etc.

  7. BONUS resource - Wolfsberg AML Principle on PEPs - Definitions, identify high-risk associates, family members etc

  8. And lastly, we will discuss Anti Money Laundering (AML) risks in detail -This will be addressed by Region, Financial Institution Products, and types of Customers and their transactions.

What You Will Learn!

  • Learn in simple ways, how money is laundered and terrorism financed.
  • Consequences of money laundering on the economic or political scape.
  • Money Laundering and State Capture
  • What motivates Terrorism and how it's financing is moved
  • Understand what AML - Customer Due Diligence is? The types of AML due diligence. Best standards for formulating excellent KYC/CDD strategies
  • How to design a standard KYC/CDD Policy for your business
  • Steps needed to take for Customer Due diligence according to FATF recommendations
  • How and When to de-risk your client
  • Learn how to identify risk, risk profile customers, transactions and regions according to AML principles....
  • Bonus Resources and case studies.

Who Should Attend!

  • Anyone in customer relations, operations, management, compliance, front office staff, bank tellers, Human Resource
  • Students, financial institution interns, new hires
  • Criminal Law students, Fraud analysts
  • Policymakers and legal drafters.
  • Civil Society Groups