Description
Course Outline
Module 1: Introduction to Anti-Money Laundering (AML) and Financial Crime
- Understanding Money Laundering and Terrorist Financing
- The Three Stages of Money Laundering: Placement, Layering, and Integration
- Key International AML Regulations and Standards (FATF, Basel Committee, EU Directives)
- The Role of Financial Institutions in Combating Money Laundering
- Emerging Trends in Financial Crime and Money Laundering
Module 2: AML Legal and Regulatory Frameworks
- Key AML Laws and Regulations (USA PATRIOT Act, UK Proceeds of Crime Act, etc.)
- Compliance Obligations for Banks, Insurance, and Other Financial Institutions
- Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
- Know Your Customer (KYC) Requirements and Verification Procedures
- AML and Counter-Terrorism Financing (CTF) Regulatory Bodies and Their Role
Module 3: Risk-Based Approach to AML Compliance
- Understanding the Risk-Based Approach (RBA) in AML Compliance
- Identifying High-Risk Customers, Transactions, and Jurisdictions
- Politically Exposed Persons (PEPs) and Their AML Implications
- Transaction Monitoring and Red Flags for Suspicious Activities
- Developing an Effective AML Risk Assessment Framework
Module 4: AML Investigation, Reporting, and Internal Controls
- Detecting Suspicious Transactions and Filing Suspicious Activity Reports (SARs)
- Role of Financial Intelligence Units (FIUs) in AML Investigations
- Case Studies of Real-Life Money Laundering Investigations
- AML Compliance Best Practices for Internal Controls and Audits
- Employee Training and Awareness Programs for AML Compliance
Module 5: Emerging Trends and Technologies in AML Compliance
- Digital Currencies and Their Role in Money Laundering
- Cybercrime and Money Laundering in the Digital Era
- AI, Machine Learning, and Big Data Analytics in AML Detection
- Cross-Border Money Laundering and Regulatory Challenges
- Strengthening Organizational AML Policies and Future Compliance Strategies
Description
Course Objectives:
Anti-Money Laundering (AML) Compliance: Policies, Procedures, and Best Practices
By the end of this 5-day training, participants will be able to:
- Understand Money Laundering and Financial Crime
- Define money laundering and terrorist financing, including their impact on financial systems.
- Explain the three stages of money laundering: Placement, Layering, and Integration.
- Identify key financial crime trends and emerging threats in global markets.
- Apply AML Legal and Regulatory Frameworks
- Understand international AML regulations (FATF, Basel, USA PATRIOT Act, EU Directives, etc.).
- Explain the role of Financial Intelligence Units (FIUs) and other regulatory bodies.
- Implement Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures.
- Implement a Risk-Based Approach (RBA) to AML Compliance
- Identify high-risk customers, transactions, and jurisdictions.
- Assess risks associated with Politically Exposed Persons (PEPs) and correspondent banking.
- Develop and implement a robust AML risk assessment framework.
- Enhance AML Investigation and Reporting Procedures
- Detect suspicious activities and file Suspicious Activity Reports (SARs).
- Apply best practices in transaction monitoring and red flag identification.
- Conduct internal audits and reviews to strengthen AML compliance programs.
- Leverage Technology and Emerging Trends in AML Compliance
- Understand the impact of digital currencies and blockchain on money laundering.
- Explore AI and machine learning applications in financial crime detection.
- Strengthen organizational AML policies to meet evolving regulatory requirements.
General Notes
GENERAL NOTES
i. The clients have many options on where they would wish to have the training
ii. The client should communicate their preferred training venue at least seven days before the training date failure to which the training shall take place in Nairobi.
iii. This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
iii. Training manuals and additional reference materials are provided to the participants.
iv. Upon successful completion of this course, participants will be issued with a Chania finance consultancy certificate.
v. The onsite training fee covers tuition fees, training materials, tea at 10am, lunch, tea at 4pm, training venue and a certificate on completion. Accommodation and travel may be arranged for our participants upon request.
vi. The online training fee covers tuition fees, training materials, and a certificate on completion.
Available at the following Venues
- Nairobi
- Google Meet
Choose the date you would like to take the course
Related Courses
10,000+ unique online course list designs
