Anti-Money Laundering And Combating The Financing of Terrorism (AML & CFT)

Course Overview:

This 2-day Anti-Money Laundering (AML) course equips you with the knowledge and skills to combat financial crime. The participants will learn concept of AML, learn how to identify suspicious activity that could be money laundering and risks associated. The course will cover the legal frameworks and regulations surrounding anti-money laundering.

Learning Objectives:

By the end of this Program, the participant will be able to:

1. Understand the concept of money laundering and terrorist financing activities

2. Recognize the various risks of money laundering and terrorist financing, as well as the penalties and disciplinary actions relating to breaches

3. Become familiar with the AML and CFT requirements relating to the activities of financial institution

4. Become familiar with the most critical AML and CFT laws, regulations, directives, international standards, and leading practices

6. Acquire the knowledge and skills to evaluate the AML and CFT program

Course Outline:

Day 1:

Module 01: An Introduction to Money Laundering and Terrorist Financing Activities, the Respective Stages, and Risks:

• The definition

• Money laundering stages

• Money laundering risks

• Examples and real life case studies

• The definition of terrorism, terrorist financing, and risks

Module 02: AML and CFT International Efforts and Initiatives:

• Financial Action Task Force (FATF)

• Basel Committee on Banking Supervision

• Wolfsberg Committee

• The Egmont Group of Financial Intelligence Units

• European Union directives

• The World Bank and the International Monetary Fund

• Regional bodies initiatives toward AML and CFT

Day 2:

Module 03: The Components of the AML and CFT Program: -

• The objective of the combat program

• Relevant policies and procedures

• The appointment of the regulatory compliance officer to monitor the AML and CFT program

• The ongoing AML and CFT training program

• The independent audit of the AML and CFT program

• The risk-based methodology

• The risk assessment mechanism

• Know Your Customer (KYC) program requirements

• Due Diligence (DD) and Enhanced Due Diligence (EDD) requirements

• Examples of high-risk accounts and activities

• International sanctions list and their important

Who Should Attend?

• Banking Operations

• Compliance, AML, and CFT

• Internal Audit

• MLRO

• Portfolio/product Managers

• Legal, HR and Procurement

• Customer services personnel in financial institutions

• Risk Management

Training Methodology:

• Lecture

• Case Studies

• Interactive Dialogue and Discussions