AML & CTF Awareness & Prevention
The ongoing fight against AML/CTF is a challenging area for firms under AML/CTF laws and regulations. Weak AML/CTF controls will open up new vulnerabilities while strong and effective AML/CTF controls will make your firm a difficult target for criminals.
Course Description & Duration
This interactive workshop has been designed for managers, supervisors and staff within the banking and finance industry to raise awareness of the impact of AML/CTF laws and regulation on their businesses. The course provides delegates with in-depth knowledge, tools and skills needed to spot ML/TF techniques/indicators.
This exercise-based workshop employs true-life case studies and videos to highlight the processes involved in these criminal activities. Delegates are given the opportunity to devise their own ‘mock’ money laundering schemes and then seek to prevent and dismantle the schemes devised by their counterparts. This course offers practical skills and teaches how vigilance and the adoption of appropriate measures can be used to mitigate ML/TF risks.
The course is offered as a full day workshop.
Course Outline
- The Three stages of Money Laundering.
- Overview of International regulatory bodies and the global framework for combating ML and CTF.
- Key regulatory requirements for ML/FT detection and prevention.
- Discuss the importance of good KYC/CDD/EDD in ML/CTF risk mitigation.
- Writing a good SAR/STR report. Group Exercise - Teamwork to devise an effective ML scheme using true life ML/CTF materials.
Training Outcomes
By the end of the training, delegates will be able to:
- Describe the concept & process of ML and explain the stages involved.
- Explain the ML/CTF laws & regulations, key obligations for regulated firms and the cost of non-compliance.
- Explain how good KYC/CDD/EDD procedures support financial crime risk prevention.
- Demonstrate an enhance awareness in the knowledge and scope of ML/CT red flags and indicators.