Anti Money Laundering (AML / CFT) Compliance Requirements

Overview

Anti Money Laundering (AML) and Countering Financing of Terrorism (CFT) Compliance Requirements for Banks and FIs What you'll learn:

You will learn about Money Laundering, Anti Money Laundering (AML) and Countering Financing of Terrorism (CFT) RegimeYou will learn about AML / CFT Regulatory RequirementsYou will learn about the Risk Based Approach RBA towards AML / CFT ComplianceYou will learn about the High Risk Money Laundering Classification Factors with ExamplesYou will learn about the Customer Due Diligence Measures and process- SDD and EDD with ExamplesYou will learn about the High Risk Category Customers and Transactions with ExamplesYou will learn about the Negative Media, Adverse Media Searches, Its Sources and Importance in AMLYou will learn about the "High-Risk Jurisdiction" and "Serious or Blacklisted Jurisdictions" by FATFYou will learn about "Jurisdictions Under Increased Monitoring" by FATFYou will learn about the Politically Exposed Persons (PEPs) and AML Requirements for PEPsYou will learn about the Correspondent Banking relationships and AML Requirements with ExamplesYou will learn about the Wire Transfers, New Practices, Technologies, and AML / CFT RequirementsYou will learn about the Suspicious Transactions, Records and Documentation RequirementsQuiz is added as part of the course to test your knowledge about core principles of AML CFT ComplianceYou will learn the Overview of AML requirements in United States and EuropeYou will learn the overview of AML requirements for Cryptocurrency Exchanges Prevention of Money Laundering and Terrorist Financing is a challenge for World Financial System. Financial Institutions including banks, money service businesses (MSBs), payment service providers, remittance businesses, exchange companies, and similar regulated entities spend millions of dollars to maintain the Anti Money Laundering (AML) and Countering Financing of Terrorism (CFT) Framework.

Other businesses dealing as brokers, real estate agents, dealers of precious metals or Jewelry, accountants, etc are also required to understand and implement the AML/CFT requirements. Why This Course?Every financial institution in the world is required to implement the AML / CFT Framework, to avoid the financial system's exploitation by criminals, criminal groups, and money launderers.

Regulators impose heavy penalties on companies and businesses that do not comply with the requirements of the AML/CFT framework and regulations. Imposition of penalties due to non-compliance with AML/CFT requirements results in financial and reputational losses.

International organization Financial Action Task Force (FATF) has issued recommendations for its member countries, the adoption of which helps ensure the implementation of strong AML / CFT measures and practices. Due to the importance of the AML / CFT regime, the value of Compliance Professionals has increased many folds, especially of Regulatory Compliance and AML / CFT Specialists.

These professionals earn handsome amounts of money by serving financial institutions such as Banks, Investment Banks, Leasing Companies, Brokerage Houses, Money Exchange Companies, Investment companies, etc. to combat money laundering risks and activities. This course is designed to provide you with sound knowledge about the AML/CFT Regime and related requirements, which companies and businesses adopt to ensure compliance with regulatory requirements.

What Will You Learn In This Course?This course is divided into modules to explain to you practical concepts of Anti Money Laundering AML / Countering Financing of Terrorism CFT with reference to AML/CFT Guidelines, Regulations, and FATF Recommendations. You will learn key concepts related to the AML / CFT Regime including:

- Money Laundering and Anti Money Laundering, - Risks Based Approach RBA to manage money laundering and terrorist financing,- Policies and IRAs (Preparation, Approvals, and Implementation)- Due Diligence Measures ( SDD / EDD) / Know Your Customers KYC, - High-Risk ML and Low-Risk ML Factors,- High-Risk Jurisdictions, Serious or Blacklisted Jurisdictions and Jurisdictions Under Increased Monitoring by FATF,- Negative Media or Adverse Media Searches, Its Sources, and Importance in AML Compliance,- Sanctions Regime - Designated Persons DPs and Proscribed Persons PPs and AML / CFT Measures- Politically Exposed Persons PEPs and AML / CFT Measures- Wire Transfers and AML / CFT Measures- NGOs / NPOs Charity Accounts and AML / CFT Measures- Correspondent Banking and AML / CFT Measures- New Processes and Technologies and AML / CFT Process- Suspicious transactions, Transaction Monitoring, Record Keeping, Documentation - Practical examples etc.QUIZ SECTIONS - To Test Your AML / CFT Knowledge:

2 Quizzes are added to test your understanding and knowledge gained through this course regarding AML / CFT.BONUS LECTURESBonus Lecture:

Important AML Regulatory Requirements in the United States and EuropeBonus Lecture:

AML Regulatory Requirements for Cryptocurrency Exchanges in Europe, Singapore and AustraliaHow Will You Benefit From This Course?By attending this course you will:

- get insight about AML / CFT Regime and Regulatory Requirements- able to understand and apply the knowledge to prevent the use of the financial system by criminals- be able to talk confidently with Regulatory Compliance and AML / CFT Specialists - be able to work in consultancy firms in their compliance functions- get lifetime access and a certificate of completion of this course Who Should Attend This Course:

Bankers, Investment Bankers, Leasing professionals, Brokers, Stock Market Professionals, Crypto exchange Compliance Professionals,Financial Intelligence Unit FIU professionals, Compliance professionals, AML / CFT Professionals, AML Analysts,Branch Managers / Operations Managers, Risk Managers, Auditors, CAMS students, Audit students, and others who have basic knowledge about Compliance and AML and want to learn more about this important area.

Syllabus

• Introduction to AML/CFT
Overview of Money Laundering and Terrorist Financing
Importance of AML/CFT in the Global Financial System
Key Regulatory Bodies and Legal Frameworks
• Understanding Money Laundering
Stages of Money Laundering: Placement, Layering, Integration
Common Techniques and Methods Used for Money Laundering
Case Studies on Money Laundering
• Understanding Terrorist Financing
Differences and Similarities with Money Laundering
Sources and Channels of Terrorist Financing
Case Studies on Terrorist Financing
• AML/CFT Laws and Regulations
Overview of International AML/CFT Standards (FATF Recommendations)
Major AML/CFT Regulations: USA PATRIOT Act, EU AML Directives
Role of National Governments and International Bodies
• Risk Assessment and Compliance Programs
Establishing an Effective Compliance Program
Identifying and Assessing Money Laundering/Terrorist Financing Risks
Customer Due Diligence (CDD) and Know Your Customer (KYC) Procedures
• Transaction Monitoring and Reporting
Implementing Effective Transaction Monitoring Systems
Identifying Suspicious Activities and Transactions
Reporting Obligations: Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs)
• Emerging Trends and Technologies
The Role of Technology in AML/CFT Compliance (AI, Machine Learning, Blockchain)
Dealing with Virtual Currencies and Cryptocurrencies
Evolving Threats and Responses in the Digital Age
• Enforcement and Penalties
Overview of Sanctions and Penalties for Non-Compliance
Case Studies on AML/CFT Enforcement Actions
Mitigating Risk and Minimizing Penalties
• Best Practices and Future Trends in AML/CFT
Developing a Culture of Compliance
Continuous Improvement in Compliance Strategies
Future Challenges and Opportunities in AML/CFT
• Course Conclusion and Examination
Summary of Key Points and Takeaways
Final Assessment/Test of Course Material
Certificate of Completion and Further Resources

Taught by

Governance Risk and Compliance GRC

Subjects

Business