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ANTI-MONEY LAUNDERING course

A practical, introductory-level course that will give you a solid understanding of core money laundering and terrorist financing risks.  Suitable for operational or front-line staff as well as those considering embarking on a new career in AML as a stepping-stone for study at a higher level.

In recent years, Financial Crime has hit the headlines, and the spotlight is firmly on compliance. CAMS is an established global qualification that outlines the key principles of money laundering, and how to prevent it. In as little as three months, individuals and teams can be certified as Anti-Money Laundering Specialists.

Terrorist Financing
This topic provides and explanation of Terrorism, Sources of Terrorist financing, the objectives of Terrorist organisations, and the impact of Money-laundering and financing terrorism.

 

Anti-money laundering legislation
This topic looks at the various Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) legislation in South Africa. Legislation covered include FICA, POCA and POCDATARA.

Role players and their responsibilities
This topic focuses on the various players in the AML/CFT arena and explains their responsibilities in terms of Reporting, Risk Management, Internal Controls,

Outcomes

At the end of the course, the student should be able to:

1. Appraise, analyse and synthesize the concepts of anti-money laundering/counter financing of terrorism (AML/CFT).

2. Identify typologies and incidences of  money laundering and financing of terrorism.

3. Examine measures against money laundering and initiatives taken by various organizations to combat terrorism.

4. Examine the implications of offshore financial centers and non-cooperative countries on AML/CFT.

5. Comprehend regulations applicable to the financial sector.

6. Recognize the implications and penalties for non-compliance with Anti-Money Laundering legislations.

7. Identify and be able to comply with requirements ushered in by the latest legislation in AML/CFT.

8. Undertake due diligence measures to deter money laundering and terrorist financing.

9. Implement relevant AML/CFT measures in their particular sectors.

This Anti- Money Laundering  and Counter Financing of Terrorism course seeks to equip participants with knowledge pertaining to regulatory and structural requirements needed to comply with Anti-Money Laundering/Counter Financing of Terrorism requirements.

COURSE CONTENT:

1. INTRODUCTION TO MONEY LAUNDERING

MONEY LAUNDERING HISTORY
KEY TAKEAWAYS
MONEY LAUNDERING A MASSIVE PROBLEM
REGULATION REQUIREMENTS

2. ANTI-MONEY LAUNDERING LEGISLATION AND REGULATORY FRAMEWORK

INTRODUCTION
UNITED NATION CONVENTIONS
ANTI-MONEY LAUNDERING LEGISLATION IN THE UK

3. ANTI-MONEY LAUNDERING ORGANISATIONS RESPONSIBILITIES

INTRODUCTION
COMMON TERMINOLOGY USED
COMPANY COMPLIANCE
REPORTING OFFICER
EMPLOYEE SCREENING
EMPLOYEE RESPONSIBILITIES
ANTI-LAUNDERING POLICIES

4. ANTI-MONEY LAUNDERING RISK BASED APPROACH

COMMON TERMINOLOGY USED
TYPES OF BUSINESS TO BE IDENTIFIED
YOUR CUSTOMERS
LOCATION
SECTOR
DEVELOPING A RISK BASED APPROACH

5. CUSTOMER DUE DILIGENCE

INTRODUCTION
COMMON TERMINOLOGY USED
CUSTOMER DUE DILIGENCE
SITUATIONS TO APPLY TO
CUSTOMER IDENTIFICATION OF BENEFICIAL OWNERS
CUSTOMER DUE DILIGENCE MEASURES
ENHANCED DUE DILIGENCE (E.D.D.)
SIMPLIFIED DUE DILIGENCE (S.D.D.)
POLITICALLY EXPOSED PERSONS (P.E.P.)
RECORD KEEPING
HIGH RISK COUNTRIES

6. RECORD KEEPING

INTRODUCTION
COMMON TERMINOLOGY USED
DUE DILIGENCE RECORDS
SUSPICIOUS ACTIVITY REPORTS (S.A.R.)
TRAINING RECORDS AND AWARENESS
GENERAL RECORDS OF INTERNAL A.M.L. CONTROLS
USE OF ELECTRONIC DATA
DELETION OF PERSONAL DATA

7. IDENTIFYING AND REPORTING SUSPICIOUS ACTIVITY

IDENTIFYING SUSPICIOUS ACTIVITY
SUSPICIOUS ACTIVITY REPORTING
INCLUDED IN EXTERNAL SAR
CONFIDENTIALITY
CONSENT NEEDED
BUSINESS OPERATION AFTER SUBMISSION OF SAR
REPORTING SUSPICIOUS ACTIVITY
WHISTLE-BLOWING

8. STAFF TRAINING

RELEVANT BUSINESS
TRAINING PROGRAMS
TRAINING REQUIREMENTS
NOMINATED OFFICER
WHEN TO TRAIN
WHEN SHOULD TRAINING BE COMPLETED?
CPD TRAINING

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