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Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)
- Foundations of Money Laundering and Terrorist Financing
- Defining AML and CTF: their mechanics and scope
- The legal criminalization of money laundering and terrorist financing, including specific offenses covered under financial crime laws
- The evolution of money laundering from drug trafficking to corruption and terrorism
Global Responses to AML and CTF
- International community actions following the 9/11 attacks
- Focus on the Financial Action Task Force (FATF):
- Membership classifications (including details on specific national memberships)
- The 40 AML Recommendations and the additional 9 CFT Recommendations
- FATF’s impact on both domestic and international regulatory frameworks
Adherence to Anti-Money Laundering Laws
- Global statutes and regulations applicable to the host country of the course
- UK regulatory framework (for reference): primarily the Proceeds of Crime Act 2002 (POCA)
Strategies for Compliance
- Establishing internal controls, procedures, and policies
- Engaging with regulatory bodies and law enforcement authorities
- Implementing Know Your Customer (KYC) protocols and Identification and Verification (ID&V) requirements
- Strategic, client relationship, and human resource implications
Identification and Reporting of Suspicious Activity
- Legal requirements for reporting
- Techniques for spotting suspicious transactions
- Procedures for internal and external reporting of questionable financial activity
Techniques for Detecting Money Laundering
- Approaches to prevention, detection, and due diligence
- Utilizing early-warning systems
Future Outlook
- Identifying current areas of heightened risk
- Prospects for the future of AML and CTF efforts
Additional Areas of Financial Crime Concern
- Fraudulent activities
- Information security risks
- Market manipulation and insider trading
- Sanctions compliance
Requirements
No prior knowledge required.
14 Hours
Testimonials (1)
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
