Anti Money Laundering
Anti Money Laundering
In this course, participants will learn the basic concepts of money laundering and the financing of terrorism, and the latest international developments in the area of anti-money laundering and combating the financing of terrorism. Participants will also develop skills in conducting customer due diligence and detecting suspicious transactions.
- Describe money laundering and how it differs from the financing of terrorism.
- Describe the international framework for money laundering and the financing of terrorism.
- Identify the role and function of financial intelligence units (FIUs) domestically and internationally.
- Describe the customer due diligence process
- Explain the role of financial institutions in the field of AML/CFT.
- Describe the compliance function in financial institutions.
- Develop detection skills through hands-on practice.
Understanding Money Laundering and the Financing of Terrorism
- What is money laundering?
- What is terrorist financing?
- The differences between money laundering and the financing of terrorism.
- How is money laundering conducted?
- The impact of money laundering and the financing of terrorism.
Understanding the International Framework of AML/CFT
- UN Conventions.
- Financial Action Task Force on Money Laundering (FATF).
- Forty recommendations on money laundering.
- Nine special Recommendations on the financing of terrorism.
- Basel Committee on Banking Supervision.
- Egmont Group.
- International Organization for Securities Commissions (IOSCO).
- International Association for Insurance Supervision (IAIS).
The Compliance Function
- Definition of compliance.
- Risks of non-compliance.
- Compliance function principles.
- Qualifications of the Compliance Officer.
- Relationship between the compliance function and internal audit.
- Money Laundering Reporting Officer (MLRO).
- Main qualifications.
- Authorities and Powers
- AML/CFT examples and case studies
Typologies and Case Studies
Participants will be informally assessed on their interaction during sessions and their participation in exercises
Who should attend?
Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from KESDEE’s innovative solutions.
- Supervisory Agencies
- Central Banks
- Financial Institutions
- Commercial Banks
- Investment Banks
- Housing Societies/Thrifts
- Mutual Funds
- Brokerage Houses
- Stock Exchanges
- Derivatives Exchanges
- Insurance Companies
- Multinational Corporations
- Accountancy Firms
- Consultancy Firms
- Law Firms
- Rating Agencies
- Multi-lateral Financial Institutions