Training in Basic AML/CFT

Enhance your skills in AML/CFT by learning key regulations, risk mitigation strategies, and reporting practices to effectively combat financial crimes and safeguard global financial systems.

Learning Objectives:

Understand the fundamental principles of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).

Recognize the key risks associated with money laundering, terrorism financing, and proliferation financing.

Identify the relevant international and local laws and regulations related to AML/CFT.

Learn about customer due diligence (CDD) and know-your-customer (KYC) procedures.

Grasp the importance of reporting suspicious activities and complying with regulatory requirements.

Explore methods for mitigating the risks of money laundering and terrorism financing within various industries.

Understand the role of regulatory bodies such as FATF (Financial Action Task Force) and national enforcement agencies.

Course Outline:

Introduction to AML/CFT:

• Definition of Money Laundering, Terrorism Financing, and Proliferation Financing.
• Importance of AML/CFT in financial and non-financial sectors.
• Key AML/CFT Concepts and Terminology:
• Money Laundering Stages (Placement, Layering, Integration).
• Proliferation Financing – what it is and why it's a risk.

Regulatory Framework:

• International AML/CFT laws and regulations (FATF, Basel, etc.).
• Overview of local AML/CFT regulations.

Customer Due Diligence (CDD) & KYC:

• CDD processes and their importance.
• Enhanced due diligence (EDD) for high-risk clients.
• Sanctions screening and ongoing monitoring.

Suspicious Activity Reporting (SAR):

• How to recognize suspicious transactions.
• Reporting obligations for financial institutions.
• Case studies on identifying suspicious activities.

Risk Management and Mitigation:

• Risk-based approach to AML/CFT compliance.
• Internal controls and risk assessments.
• Role of compliance officers and auditors.

Proliferation Financing:

• Definition and significance.
• Global counter-proliferation financing measures.
• Red flags and typologies of proliferation financing.

Conclusion and Best Practices:

• Developing effective AML/CFT policies.
• Best practices for institutions and individuals in mitigating AML/CFT risks.

Duration:

1-2 Days (depending on the depth of the content and interactive sessions).

Level:

Beginner to Intermediate

Suitable for professionals new to the topic or needing a basic refresher.

Prerequisites:

Basic knowledge of financial regulations or previous exposure to AML/CFT topics can be beneficial.

Category:

• Financial Compliance/Regulatory Training
• Risk Management and Governance