Anti Money Laundering (AML) Orientation

Outline:

• Anti-money Laundering
• AML/CFT and KYC Fundamentals
• Obligations (regulatory Requirements
• Global, National And
• Regional). 
• International Frameworks, Best
• Practices By FATF, Basel,
• Egmont Eu Directives, Etc. 
• Risk-based Approach
• Risk Indicators, Internal Controls
• Customer Due Diligence
• SDD, Edd, Ongoing Monitoring
• Beneficial Owners, Peps
• Identify, Verify, SOW-SOF
• Monitor
• Sanctions, Screening
• Red Flags, Ofac, Unsc,
• Eu-ukhm Black List/Watch List,
• False Positives
• Suspicious Transaction
• Reports (STR, SAR, CTR)
• Filing, Reviewing, Data Mining
• Record-keeping Procedures
• Regular, Ad-hoc Reporting
• Training
• Awareness, Refresher, Updates

Topics:

• Three Stages in the Money Laundering Cycle.
• The Economic and Social Consequences of Money Laundering.
• AML/CFT Compliance Programs and Individual Accountability.
• Credit Unions and Building Societies.
• Non-Bank Financial Institutions
• Non-Financial Businesses and Professions.
• Risk Associated with New Payment Products & Services.
• Corporate Vehicles Used to Facilitate Illicit Finance.
• Terrorist Financing
• Use of Hawala and Other Informal Value Transfer Systems.
• Emerging Risks for Terrorist Financing