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Anti-Money Laundering
DATE
05 - 09 Jun, 2023
LOCATION
to be determined
Why Attend?
Anti-Money Laundering
Course Objectives
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By the end of the course, participants will be able to:
- Understand international money laundering standards and the participants role as an Anti-Money Laundering Officer or Money Laundering Reporting Officer (MLRO) within their organization
- Establish a risk based approach to AML, the AML/CTF Framework, business risk assessments and suspicious activity reports
- Assess customer, product and jurisdictional risk, and identify red flags
- Develop methods for training and culture to identify and combat money laundering activities related to their organization
Target Audience
This course is suitable for Compliance Officers, AML Officers, Money Laundering Reporting Officers (MLROs), Know Your Customer (KYC) analysts, auditors and any other professionals with responsibilities for financial compliance within their organization
Introduction to Money Laundering
- Explanation of Money Laundering Laws
- International standards
- Wolfsberg principles
- Office of Foreign Assets Control (OFAC)
The Role and Responsibilities of a MLRO
- The role of the MLRO
- The Annual AML Return
- Training and Awareness
- Risk Based Approach
AML in the workplace
- AML policy
- Business Risk Assessment
- Customer Risk Assessment
- Customer Due Diligence (EDD)
- Politically Exposed Person (PEP)
- Enhanced Due Diligence (EDD)
- Source of Funds and Source of Wealth (SOF, SOW)
Monitoring and Screening
- Monitoring Customers
- Monitoring Transactions
- Sanctions
- Screening Employees
Culture and Awareness
- Awareness Campaign
- Role based training
- Corporate culture
Escalation
- Examples of warning signs
- Record keeping
- Internal Escalation Process
- Suspicious Activity Reports
Tax Evasion
- Tax Evasion
- Tax Avoidance
- US Foreign Account Tax Compliance Act (FATCA)
- Ensuring compliance
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