Overview:
The *Anti Money Laundry course* is designed to empower professionals in regulated firms with essential knowledge and skills to combat Money Laundering (ML) and Terrorist Financing (TF). This comprehensive training equips participants with a clear understanding of the scope, risks, and regulatory frameworks surrounding AML and TF. It also focuses on implementing practical procedures and controls to mitigate risks effectively. Participants will gain valuable insights into how financial services can be misused for illegal activities and their legal responsibilities to maintain compliance with international standards and regulations.
Objectives
Grasp the different types of financial crime risks and their implications.
Master the components of a risk-based approach to AML and its real-world applications.
Understand how compliance functions collaborate to reduce risks.
Develop the expertise to design and implement effective risk management programs within an organization.
Course Outline
Understanding Financial Crime Risks:
Exploring various types of financial crime: money laundering, terrorist financing, fraud, bribery, corruption, tax evasion, and sanctions evasion.
- Identifying categories of risks and understanding their potential impact on firms.
Risk-Based Approach:
Key elements of a risk-based framework and how to apply it.
Escalation and decision-making processes in a risk-based context.
Compliance and Controls:
Understanding the “three lines of defense” in risk management.
Techniques for identifying and reporting suspicious activities.
Record-keeping obligations for individuals and corporations.
Customer Due Diligence (CDD):
Mastering Know Your Customer (KYC) protocols and conducting Customer Risk Assessments.
Establishing effective transaction and sanctions monitoring programs.
Regulatory and Global Framework:
Overview of FATF initiatives, UN Sanctions, and global AML efforts.
Responsibilities of the Money Laundering Reporting Officer (MLRO).
Addressing risks linked to Politically Exposed Persons (PEPs) and high-risk jurisdictions.
Practical Insights:
Understanding the stages of Money Laundering and Counter-Terrorist Financing (CTF).
Pinpointing vulnerabilities in financial services.
Recognizing the penalties and consequences of non-compliance.
Why Choose FIT Institute?
With a curriculum designed by industry experts, FIT Institute ensures participants leave with a deep understanding of AML practices and the confidence to implement them effectively in their professional roles.
Inquire Now
Contact FIT Institute for more details about course schedules and to find the best learning option for your needs.
