The course provides participants with a comprehensive understanding of the concepts, regulations, and best practices related to anti-money laundering (AML) and combating the financing of terrorism (CFT). In an increasingly complex and interconnected global financial system, organizations and individuals need to be equipped with the knowledge and skills to detect, prevent, and mitigate the risks associated with money laundering and terrorist financing. This course covers key aspects of AML and CFT, including relevant international standards, legal frameworks, risk assessment, customer due diligence, transaction monitoring, reporting obligations, and regulatory compliance. Participants will learn how to identify suspicious activities, implement effective AML/CFT policies and procedures, and contribute to efforts aimed at protecting the financial system from illicit financial flows.

1. Understand the fundamental concepts, scope, and consequences of money laundering and terrorist financing.
2. Familiarize oneself with international standards, legal frameworks, and regulatory requirements in AML/CFT.
3. Identify risk factors and assess vulnerabilities to money laundering and terrorist financing.
4. Develop and implement effective AML/CFT policies, procedures, and controls.
5. Conduct thorough customer due diligence and implement risk-based approaches.
6. Apply transaction monitoring techniques to detect suspicious activities and patterns.
7. Understand the reporting obligations and channels for suspicious transactions and activities.
8. Ensure compliance with AML/CFT regulations, laws, and industry best practices.
9. Enhance internal controls and risk management practices to mitigate AML/CFT risks.
10. Promote a culture of awareness and ethics to prevent money laundering and terrorist financing.

1. Compliance with Regulatory Requirements: By ensuring employees are well-versed in AML/CFT regulations and best practices, organizations can ensure compliance with legal and regulatory requirements.
2. Enhanced Risk Management: The course equips organizations with the knowledge and skills to identify and assess AML/CFT risks.
3. Protection against Reputational Damage: Money laundering and terrorist financing activities can severely damage an organization’s reputation.
4. Improved Operational Efficiency: Implementing effective AML/CFT policies and procedures streamlines operations, enhances due diligence practices, and reduces the risk of delays or disruptions due to investigations or regulatory non-compliance.
5. Stronger Customer Relationships: By implementing robust customer due diligence processes and risk-based approaches, organizations can enhance their understanding of customer needs and risk profiles.
6. Enhanced Internal Controls: The course emphasizes the establishment of effective internal controls and governance structures to prevent money laundering and terrorist financing.
7. Collaboration and Information Sharing: The course promotes collaboration and information sharing among organizations, regulatory bodies, and law enforcement agencies.
8. Reduced Financial Losses: AML/CFT measures help organizations identify and prevent financial losses resulting from money laundering, fraud, or terrorist financing activities.
9. Staff Competence and Professional Development: Providing employees with comprehensive AML/CFT training enhances their skills, competence, and knowledge in detecting and preventing financial crimes.
10. Demonstrating Corporate Social Responsibility: Effective AML/CFT practices contribute to global efforts to combat money laundering and terrorist financing, aligning with corporate social responsibility goals.

This course is suitable for professionals working in financial institutions, regulatory bodies, law enforcement agencies, compliance departments, or anyone involved in AML/CFT compliance and risk management. It is particularly relevant for individuals seeking to enhance their understanding of AML/CFT regulations, practices, and contribute to efforts in combating financial crimes.

5 – 10 days

However, the duration can be adjusted based on the specific needs and pace of the participants.

Module 1: Introduction to Money Laundering and Terrorist Financing

• Understanding the concepts and consequences of money laundering and terrorist financing.
• Exploring the global efforts and international standards in AML/CFT.
• Identifying the roles and responsibilities of individuals and organizations in combating financial crimes.

Module 2: Legal and Regulatory Frameworks

• Understanding the legal and regulatory frameworks governing AML/CFT.
• Familiarizing oneself with international conventions, laws, and industry regulations.
• Identifying the obligations and reporting requirements for AML/CFT compliance.

Module 3: Risk Assessment and Mitigation

• Assessing the risks and vulnerabilities associated with money laundering and terrorist financing.
• Implementing risk assessment methodologies and identifying risk indicators.
• Developing risk mitigation strategies and controls to prevent financial crimes.

Module 4: AML/CFT Policies and Procedures

• Developing and implementing comprehensive AML/CFT policies and procedures.
• Establishing internal controls, governance structures, and oversight mechanisms.
• Ensuring compliance with legal and regulatory requirements.

Module 5: Customer Due Diligence (CDD)

• Conducting thorough customer due diligence and implementing risk-based approaches.
• Verifying customer identities, assessing customer risks, and ongoing monitoring.
• Implementing enhanced due diligence measures for high-risk customers or transactions.

Module 6: Transaction Monitoring and Suspicious Activity Reporting

• Applying transaction monitoring techniques to detect suspicious activities and patterns.
• Establishing procedures for identifying, investigating, and reporting suspicious transactions.
• Understanding the obligations and channels for reporting suspicious activities.

Module 7: Compliance and Internal Controls

• Ensuring compliance with AML/CFT regulations, laws, and industry best practices.
• Establishing internal controls, audits, and independent reviews.
• Implementing employee training, awareness programs, and ethics guidelines.

Module 8: International Cooperation and Information Sharing

• Understanding the importance of international cooperation in combating financial crimes.
• Establishing frameworks for information sharing and collaboration.
• Participating in cross-border initiatives and sharing best practices.

Module 9: Emerging Trends and Technologies in AML/CFT

• Exploring emerging trends and technologies in AML/CFT.
• Understanding the risks and opportunities associated with new payment methods, cryptocurrencies, and fintech.
• Assessing the effectiveness of technology in AML/CFT efforts.

Module 10: Ethics, Awareness, and Professionalism

• Promoting a culture of ethics, awareness, and professionalism in AML/CFT.
• Understanding the importance of ethical conduct and professional responsibilities.
• Enhancing knowledge, skills, and competencies in AML/CFT practices.