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Course Outline
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)
- Foundations of Money Laundering and Terrorist Financing
- Defining AML and CTF: concepts and operational mechanics.
- Legal frameworks criminalizing Money Laundering and Terrorist Financing, including the scope of offenses under Financial Crime Prevention laws.
- Historical evolution: tracing the shift of illicit funds from drug trafficking to corruption and terrorism.
Global Responses to AML and CTF
- The international community’s approach to AML and CTF following the 9/11 attacks.
- Focus on the Financial Action Task Force (FATF):
- Membership structures (including specific country affiliations where applicable).
- The core 40 Recommendations for AML and the additional 9 Recommendations for CTF.
- FATF’s role in shaping national and international legislative standards.
Adhering to Anti-Money Laundering Laws
- Review of international statutes and local regulations pertinent to the course location.
- Reference to UK regulations for comparative purposes, primarily the Proceeds of Crime Act 2002 (POCA).
Strategies for Compliance
- Establishing robust Internal Controls, Procedures, and Policies.
- Collaboration with regulatory bodies and law enforcement authorities.
- Implementing Know Your Customer (KYC) protocols and Identification and Verification (ID&V) standards.
- Assessing the impact on corporate strategy, client management, and human resources.
Identification and Reporting of Suspicious Activity
- Understanding legal reporting obligations.
- Techniques for detecting suspicious transactions.
- Procedures for internal escalation and external reporting of potential violations.
Methods for Detecting Money Laundering
- Integrating Prevention, Detection, and Due Diligence practices.
- Utilizing Early-Warning Systems.
Future Perspectives
- Current trends and emerging “hot spots” in financial crime.
- Future directions for AML and CTF compliance.
Additional Areas of Financial Crime Risk
- Fraud Prevention.
- Cybersecurity and Information Protection.
- Preventing Market Abuse and Insider Trading.
- Adherence to International Sanctions.
Requirements
There are no specific prerequisites for this course.
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.
