Understand common money laundering (ML) and terrorist financing (TF) typologies. Identify red flags and risk indicators of ML/TF activities. Develop skills to conduct effective ML/TF risk assessments using a risk-based approach.

Learning Objectives:

• Understand common money laundering (ML) and terrorist financing (TF) typologies.
• Learn how criminal organizations use various industries and sectors to launder money and finance terrorism.
• Identify red flags and risk indicators for detecting ML/TF activities.
• Explore global regulatory frameworks (FATF) and industry best practices for combating ML/TF.
• Develop skills to conduct thorough risk assessments based on identified ML/TF typologies.
• Learn how to apply risk-based approaches for identifying and mitigating ML/TF risks in an organization.
• Master techniques for reporting suspicious activities to relevant authorities and enhancing overall compliance.
  

Course Outline:

Introduction to ML/TF Typologies:

• Overview of money laundering and terrorist financing processes.
• Key ML/TF schemes across sectors (banking, real estate, trade, etc.).

Common ML/TF Typologies:

• Structuring, smurfing, trade-based money laundering, and shell companies.
• Emerging typologies in online transactions, digital currencies, and virtual assets.

Red Flags and Risk Indicators:

• Identifying suspicious behaviors and patterns in transactions.
• Reviewing case studies to recognize typologies in real-world scenarios.

Global Regulatory Frameworks:

• Overview of FATF recommendations and compliance requirements.
• Regulatory obligations for financial institutions and non-financial businesses.

Conducting a Risk Assessment:

• Step-by-step guide to performing a comprehensive ML/TF risk assessment.
• Risk categorization based on customer profiles, transaction types, and geography.

Risk-Based Approach to ML/TF:

• How to implement a risk-based approach for identifying and mitigating ML/TF risks.
• Aligning internal policies with the risk appetite and regulatory requirements.

Reporting and Compliance Obligations:

• How to file Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs).
• Engaging with regulators and Financial Intelligence Units (FIUs).

Case Studies and Best Practices:

• Real-life examples of ML/TF typologies and effective risk assessments.
• Best practices for enhancing internal controls and maintaining compliance.

Duration:

2-3 Days (depending on the depth of case studies and practical exercises).

Level: Intermediate to Advanced

• Designed for compliance officers, risk managers, auditors, and financial professionals involved in ML/TF risk management.

Prerequisite:

Basic understanding of AML/CFT principles.

Category:

• Financial Crime/AML
• Risk Management/Compliance