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Course Outline
Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT)
- Fundamentals of Money Laundering and Terrorist Financing
- Defining AML and CTF: mechanisms and operational overview
- Legal implications: the criminalization of Money Laundering and Terrorist Financing, including crimes covered by Financial Crime Prevention laws
- The evolution of Money Laundering from drug trafficking to corruption and terrorism
Global Response to AML and CTF
- The international community's approach to AML and CTF following 9/11
- Focus on the Financial Action Task Force (FATF):
- Membership structures (including specific country memberships where relevant)
- The 40 Recommendations on AML and the additional 9 Recommendations on CFT
- The influence of FATF standards on both domestic and international legal frameworks
Adherence to Anti-Money Laundering Laws
- Global legislation and local laws applicable to the course location
- UK Regulatory Framework (for comparative context): primarily the Proceeds of Crime Act 2002 (POCA)
Compliance Frameworks
- Establishing internal controls, standard operating procedures, and policies
- Collaboration with regulatory authorities and oversight bodies
- Know Your Customer (KYC) protocols and Identification and Verification (ID&V) requirements
- Strategic implications for client relationships and human resources management
Identifying and Disclosing Suspicious Activity
- Legal obligations for reporting
- Methods for recognizing suspicious transactions
- Internal escalation and external reporting procedures for suspicious transactions
Techniques for Detecting Money Laundering
- Preventive measures, detection tools, and due diligence processes
- Implementation of early-warning systems
Future Directions
- Current areas of high risk ('hotspots')
- Emerging trends and future developments in AML / CFT
Additional Financial Crime Risks
- Fraud prevention
- Information security
- Market manipulation and insider trading
- Compliance with sanctions
Requirements
There are no prior requirements.
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.
