Anti-Money Laundering (AML) Compliance Masterclass

What are the Goals?

By the end of this Anti-Money Laundering (AML) Compliance Masterclass training course, you will be able to understand:

• The process of Money Laundering
• Regulations applicable to firms / banks
• FATF roles in Anti-Money Laundering
• The penalties for non-compliance with AML legislation
• How Anti-Money Laundering and Countering Terrorist Financing (CTF) might be prevented?
• How to define the ways in which a Firm / Bank and its staff should protect themselves against the risks of Money Laundering and Terrorist Financing?
• Due diligence measures to deter money laundering and terrorist financing
• The “red flags” might help you to identify, prevent and report any (suspicious or actual) criminal activity
• The implications of offshore financial center on ML

Who is this Training Course for?

This training course is designed to deliver the knowledge and skills, providing details of the latest policies and procedures to:

• Staff with specific anti money laundering duties
• Anti-Money Laundering (AML) / Compliance Professionals
• Senior Management
• All Staff working in financial services who want an introduction to anti money laundering
• Anyone who works within the regulated financial sectors, or to a career in anti-money laundering or fraud prevention
• Consultants
• Treasury Managers
• Auditors
• Lawyers
• Regulator or Advisor of Product / Services
• Credit Managers

Daily Agenda

Day One: Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)

• Why the Current Focus on Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)?
• Money Laundering & the Financing of Terrorism Definitions
• Differences and Similarities between Money Laundering and Terrorist Financing
• Key Stages of Money Laundering
• Typologies & Techniques of Money Laundering
• Indicators of Money Laundering
• Products and Services Vulnerable to Money Laundering or Terrorism Financing
• Money Laundering Trends in (Jurisdiction)

Day Two: The International Organizations of Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)

• The International bodies’ response to Anti-Money Laundering (AML) and  Countering Terrorist Financing (CTF)
• The International Measures to Prevent Money Laundering and Financing of Terrorism 
• The Complex and Interrelated Risks with Respect to Money Laundering and Sanctions
• FATF and Its Roles of Anti-Money Laundering (AML)
• Customer Policies and Procedures
• International Legislation and Legislation Applicable to Your Jurisdiction
• The Wider Context for Financial Crime Risk and Regulation in which Your Firm Operates
• The Role and Responsibilities of (Front / Back Office / AML / Compliance Officer), and How these fit within the financial crime risk-management life cycle?

Day Three: Compliance Strategies

• Jurisdiction Anti-Money Laundering (AML) and  Countering Terrorist Financing (CTF)
• Laws and Regulations
• The Requirements for Robust Anti-Money Laundering Operations, Internal Controls, Procedures and Policies
• Cooperation with the Authorities and the Regulators
• Know Your Customer (KYC) and ID&V Rules
• Tipping-off
• Market Abuse and Insider Dealing
• Client Relations and Human Resources Strategies
• The Relevant Laws and Regulations in Your Jurisdiction, The International Standards and The Role of Law Enforcement

Day Four: Recognizing and Reporting Suspicious Transactions

• Statutory Obligations
• Identifying Suspicious Transactions
• Internal and External Reporting of Suspicious Transactions
• Identifying High-risk Indicators - Understand what to do with the information and whom to escalate it to
• The Role of the MLRO
• The Importance of Record Keeping
• Responsibilities of Firms / Banks and Individuals
• Setting-up Monitoring Procedures

Day Five: Money Laundering Detection Techniques

• Prevention, Detection and Due Diligence
• Early-Warning Mechanisms
• Designing Money Laundering and Terrorist Financing Risk Assessments
• Applying Know Your Customer (KYC) & Customer Due Diligence (CDD )
• Risk Management of Politically Exposed Persons (PEPs)
• Screening
• Best Practices Applicable to Firms / Banks 
• Sanctions