Course Objectives
Certificate in Anti-Money Laundering - Virtual Learning
Course Objectives
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.
Target Competencies
Investigations
Operational compliance
Decision making
Stakeholder communications
Problem Solving
Course Outline
Introduction to Money LaunderingExplanation of Money Laundering LawsInternational standardsWolfsberg principlesOffice of Foreign Assets Control (OFAC)Dubai Financial Services Authority (DFSA) Rulebook
The Role and Responsibilities of a MLROThe role of the MLROThe Annual AML ReturnTraining and AwarenessRisk Based Approach
AML in the workplaceAML policyBusiness Risk AssessmentCustomer Risk AssessmentCustomer Due Diligence (EDD)Politically Exposed Person (PEP)Enhanced Due Diligence (EDD)Source of Funds and Source of Wealth (SOF, SOW)
Monitoring and ScreeningMonitoring CustomersMonitoring TransactionsSanctionsScreening Employees
Culture and AwarenessAwareness CampaignRole based trainingCorporate culture
EscalationExamples of warning signsRecord keepingInternal Escalation ProcessSuspicious Activity Reports
Tax EvasionTax EvasionTax AvoidanceUS Foreign Account Tax Compliance Act (FATCA)Ensuring compliance