Anti- Money Laundering and Combating the Financing of Terrorism AML and CFT

Overview:

Introduction:

The Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Training Program provides comprehensive training on preventing and detecting financial crimes related to money laundering and terrorism financing. It empowers participants to enhance organizational integrity and contribute to the global fight against financial crimes.

Program Objectives:

By the end of the program, participants will be able to:

• Understand the principles and best practices of AML/CFT compliance.

• Conduct AML/CFT risk assessments and implement effective risk management strategies.

• Detect and investigate money laundering and terrorism financing activities.

• Develop and implement AML/CFT policies, procedures, and internal controls.

• Prepare and submit regulatory reports and ensure ongoing compliance with AML/CFT obligations.

Target Audience:

• Compliance officers and AML/CFT professionals.

• Financial institution employees, including bankers and financial analysts.

• Risk management and fraud prevention professionals.

• Legal and regulatory compliance professionals.

• Law enforcement officers and investigators involved in financial crime cases.

Program Outlines:

Unit 1:

Introduction to AML/CFT:

• Overview of anti-money laundering (AML) and combating the financing of terrorism (CFT) concepts and their significance.

• Understanding the global impact of money laundering and terrorism financing.

• Key principles and objectives of AML/CFT initiatives.

• Overview of international AML/CFT frameworks and organizations such as FATF (Financial Action Task Force).

• Importance of ethical conduct and compliance in AML/CFT efforts.

Unit 2:

Legal and Regulatory Framework:

• Understanding relevant laws, regulations, and international standards related to AML/CFT.

• Analyzing key legislative frameworks such as the USA PATRIOT Act, EU AML Directives, and UN Resolutions.

• Exploring regulatory requirements and guidelines governing AML/CFT practices.

• Role of regulatory bodies and enforcement agencies in combating money laundering and terrorism financing.

• Ensuring compliance with legal and regulatory obligations in AML/CFT activities.

Unit 3:

Risk Assessment and Management:

• Conducting AML/CFT risk assessments to identify vulnerabilities and exposure.

• Developing AML/CFT risk management strategies and controls.

• Implementing customer due diligence (CDD) and enhanced due diligence (EDD) procedures.

• Designing and implementing AML/CFT policies, procedures, and internal controls.

• Establishing ongoing monitoring and reporting mechanisms for suspicious activities.

Unit 4:

AML/CFT Detection Techniques:

• Techniques for detecting money laundering and terrorism financing activities.

• Utilizing data analytics and transaction monitoring systems.

• Identifying and analyzing red flags and suspicious transaction patterns.

• Conducting investigations and gathering evidence for AML/CFT cases.

• Documenting findings and maintaining audit trails for regulatory compliance.

Unit 5:

Reporting and Compliance:

• Preparing and submitting suspicious activity reports (SARs) and currency transaction reports (CTRs).

• Ensuring effective communication with regulatory authorities and law enforcement.

• Developing and implementing employee training programs on AML/CFT compliance.

• Conducting internal audits and assessments to ensure compliance with AML/CFT regulations.

• Establishing whistleblowing mechanisms and channels for reporting suspicious activities.