Anti-Money Laundering

Anti-Money Laundering

Anti Money Laundering is a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. Money laundering prevention remains high on the agenda for financial services professionals. An integrated approach to fighting the risk is needed and knowledgeable, fully trained staff are essential to that approach. This Program on Anti Money Laundering helps individuals develop best practice initiatives and prepares them to face present and future challenges, reducing risk.Every professional involved in the global financial services industry / KPO / BPO/ International Business would benefit from this program.

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Training Program: Anti-Money Laundering - Certificate Course
Delivery: Video Classes | Online Material | Continuous Faculty Support | Recorded sessions
Online platform used: WizIq
Total Class Hours: 16hrs
Program Details:
Video Classes: 9
Material: 9
Test: 1
Certificate of Knowledge: On successful completion of the test, "Certificate of Knowledge in AML" will be issued by BFSIacademy.
Program Fee: Rs 4999/- (Including Service Tax)
Program will act as preparation:
1. Certified Anti Money Laundering Specialists exam ACAMS
2. Certificate Examination in Anti Money Laundering and Know your customer by IIBF

Program over View:

Anti-Money Laundering:

To help the participants get to grips with the complexities associated with fraud prevention, this highly practical course has been designed, filled with the latest developments both regulatory and otherwise. Suggested that everyone need to protect self and the company by attending this crucial course, while keeping informed of all the key issues associated with AML today.

A comprehensive, practical analysis of anti-money laundering legislation and implementation. This course is designed to enable those professionals who are subject to anti-money laundering regulations to obtain a sound practical understanding of:

  • The major sources of money laundering and terrorist financing
  • The cross-spectrum of international requirements
  • The key components of the UK legal and regulatory regime
  • The practical day-to-day requirements for robust anti-money laundering operations
  • Realistic ways of meeting the anti-money laundering obligations placed upon your organization

Who should participate?

Understanding AML has become very important for every one working in BFSI and even non BFSI sector, due to stringent compliance rules floated by various Regulatory institutions . Program should be attended by

  • Every Banker
  • Employes working in Any Financial Institiution| Broking | Investment Banking | Insurance | Mutual Fund | NBFC | Micro Finance
  • Employees working in BPO | KPO | IT - Banking & Financial Services
  • MBA Freshiers intending to join in Banking & Financial Services
  • Anyone indulged in cash intensive business
  • Every law abiding citizen

Detailed program schedule:

  • Introduction to Money Laundering and Terrorist Financing
    • What is Bank?
    • Financial Services Industry
    • Cash Intensive Business
    • The meaning of money laundering
    • The meaning of terrorist financing
    • ML - Black Money - Havala
    • Why is money laundering such an important issue?
    • Exploring and discussing the impact of money laundering on both developed and developing countries
    • The damage that money laundering and terrorist financing can cause to your organization
    • International initiatives and requirements
  • Role of the Financial Action Task Force (FATF)
    • The recommendations
    • Nine special recommendations
    • Non co-operative countries and territories
  • The US and its Effect Internationally
    • History of the fight against money laundering
    • US Patriot Act
    • Banking Secrecy Act
    • OFAC
  • UK Legal and Regulatory Requirements
    • Proceeds of Crime Act 2002
    • Serious Organized Crime and Police Act
    • Terrorism Act 2000
    • Serious Crime Act 2007
    • Counter Terrorism Act 2008
    • Money Laundering Regulations 2007
    • Financial Services Authority Rules
  • Case Studies
  • Regulatory Requirements in major regions/ countries
  • Customer Due Diligence
    • CDD requirements
      • Individuals
      • Legal entities
      • Beneficial owners
    • Risk based approach
    • How best to achieve
      • Face to face
      • Electronically
      • Remotely
  • Ongoing Monitoring
    • For CDD reviews
    • Transaction monitoring
    • Risk indicators
  • Record Keeping
    • What records must be kept
    • How do you keep them and for how long
    • CDD records
    • Transaction records
  • Suspicions and Reporting
    • What is a suspicion?
    • How you identify them
    • What internal reporting systems you need
    • What must you report to the authorities?
    • How you report
    • What records you need
    • When you need consent
    • How you deal with customers whilst awaiting it
    • How you handle customers after a report has been made
  • Money Laundering Reporting Officer (MLRO)
    • What are the duties?
    • What are the obligations?
    • How do you meet them?
    • Reporting
  • Senior Management Responsibility
    • Setting an AML policy
    • Audit of AML compliance
  • Training and Awareness
    • Who and when to train
    • Level of training
    • Methods of training
    • Assessing competence
    • Training records
    • Maintaining awareness
  • Managing Risks relating to AML
  • Further Case Studies
  • Quiz
  • Quiz Key Discussions
  • Summary
  • Feedback

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