Antimoney Laundering and Combating Financing of Terrorism.

Antimoney Laundering and Combating Financing of Terrorism

This course will enable you to understand fundamentals of global private banking and wealth management and enrich your knowledge about various related products and services. The course is focused on the needs of professionals wishing to acquire knowledge of private banking and wealth management in order to enable them to provide technological solutions to banking Industry.

Delivery mode: Classroom/virtual classroom/online

Duration: Two full days

Course level: Foundation level

What will you learn?

When you complete this course, you will have understanding of:

  • AML Regulation
  • Process of financing of terrorism
  • Compliance standards/regulation for anti-money laundering (AML) and combating financing of terrorism (CFT)
  • Anti-Money Laundering compliance programme
  • Conducting or supporting investigation process
  • Usage of software for AML/CFT
  • How do regulators assess compliance

Course Content

Anti money laundering regulation

What is Money laundering

  • Three stages in money laundering : Placement, layering, integration

Conducting or supporting investigation process

  • Process of investigation

What is financing of terrorism

  • Process of financing of terrorism
  • Comparing money laundering with financing of terrorism
  • Trends in money laundering
  • Economic and social consequence of money laundering
  • Risks and methods of money laundering
    1. Using of banking systems
    2. Using non-banking financial institutions
    3. Using new payment methods
    4. Using non-financial businesses and professions
    5. Using charities or non-profit organizations
    6. Using on-line gaming and sports

Process of financing of terrorism

Compliance standards/regulation for anti-money laundering (AML) and combating

financing of terrorism (CFT)

  • Financial Action Task Force (FATF) recommendations
  • Basel Committee on Banking Supervision (BCBS)
  • European Union 4th Directive and rules
  • US Patriot Act, OFAC requirements and OFAC sanction programs
  • Wolfsberg group
  • Regional standards
  • Consequences of non-compliances
    1. Fines and penalties
    2. Reputational risk

Anti-Money Laundering compliance program

  • Risk based approach to AML and CFT
  • Contents of AML CFT program
  • Customer due diligence / know your customer processes
  • Red flags of AML CFT
  • Monitoring of transactions

Usage of software for AML/CFT

  • Rules Engine
  • Statistical and profiling engine
  • Neural networks
  • Peer group analysis
  • Link analysis
  • Time sequence matching
  • Name recognition/list filtering
  • SWIFT sanctions

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