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Anti Money Laundering (AML) Compliance Training Course – Level I (Basics) » ACG18

Anti Money Laundering (AML) Compliance Training Course – Level I (Basics)

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24 Jun - 28 Jun, 2024Live Online5 Days$2050Register
01 Jul - 03 Jul, 2024Live Online3 Days$1400Register
19 Aug - 27 Aug, 2024Live Online7 Days$2867Register
23 Sep - 04 Oct, 2024Live Online10 Days$4095Register
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22 Jul - 24 Jul, 2024Amsterdam3 Days$4100Register
22 Jul - 26 Jul, 2024Dubai5 Days$4250Register
05 Aug - 16 Aug, 2024Amsterdam10 Days$9425Register
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30 Sep - 04 Oct, 2024Dubai5 Days$4250Register
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03 Nov - 07 Nov, 2024Doha5 Days$4345Register
04 Nov - 08 Nov, 2024Athens5 Days$5125Register
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16 Dec - 20 Dec, 2024Dubai5 Days$4250Register
23 Dec - 27 Dec, 2024London5 Days$5125Register

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Course Overview

Money Laundering is the process through which criminals convert “dirty” money to appear “clean” i.e. from illicit gotten sources (black money) to legally accessible/taxable (white money) funds. Money launderers attempt via various means, to conceal or disguise the identity of such funds that are under regulatory vigilance; to appear to have originated from legitimate sources.

Many times such funds are sourced from predicate crimes and are destined to be used in further crimes, mainly Terrorism Funding. Financial Institutions (FIs) are mandated by a domestic and international regulatory mechanism to have a multifold compliance program in place.

One of the minimum requirement for that being the training of all the personnel (as mentioned below) as a part of the Compliance Program, as operationally applicable befitting to their roles and responsibilities.

Given the corporate compliance risk-based approach, the compliance department is accountable to oversee the functions operating in compliance adherence; and for which periodic training that is relevant, appropriate, updated and recommended.

Compliance team must include recent changes to regulatory requirements as well as the internal hotline, formats, policies & procedures to flag and counter the threats as per the overall risk profile of the bank.

Employees at all levels should understand these adherences to avoid ramifications that may be results of noncompliance, and the risks posed to the bank in terms of legal suits, govt. sanctions and resulting reputation loss.

FIs are mandated to keep a record of such training programs and have it well documented, with details including training curriculum (for relevance), attendances & dates, a number of periodic sessions, understating & proficiency of trained staff via testing (maintaining training scores) etc., for external audit or govt. audit.

As historically observed, compliance culture creation is one of the best outcomes of this training program, with which the organization BoD’s ‘Tone from the Top’ and reflects the organization-wide commitment for compliance adherence.

This Zoe training course will empower your organization with knowledge and understanding needed to tackle this regulatory mandate and demonstrate organization-wide compliance readiness for regulatory authorities.

Course Objectives

Upon completing this ‘Anti Money Laundering (AML) Compliance Certification Course – Level I (Basics)’ successfully, participants will be able to:

  • Describe the factors that drive the need for anti-money laundering measures in financial institutions
  • Understand domestic and international mechanism set for detecting and countering money laundering and related predicate crimes
  • Understand Anti-Money Laundering regulations as prescribed by the local regulatory organisations in compliance with international financial compliance governance and related organizations
  • Align the organization’s compliance goals with day-to-day operations and promote vigilance
  • Promote a culture of compliance to help detect and report suspicious activity
  • Interpret the basic level of regulatory compliance circulars and Govt. Compliance notices
  • Review policies, technology, resources and other compliance supporting mechanism internally and implement them to avoid regulatory penalties
  • Develop AML/KYC risk management strategies for building and implementing an effective compliance program
  • Develop a supportive mechanism for an organization’s response to Law Enforcement, Legal and International Operations readiness i.e. Regulatory requests/demands w.r.t. Foreign branches or Correspondent services or foreign client jurisdictions.

Training Methodology

This is an interactive training program and will consist of the following training approaches:

  • Lectures
  • Webinars/Seminars & Presentations
  • Group Discussions
  • Bod & Sr. Mgmt. Consulting sessions
  • AML KYC Policy Documentation Analysis
  • Compliance Team Focus Group Discussions
  • Case Studies & Functional Exercises

Organisational Benefits

Companies who send in their employees to participate in this course can benefit in the following ways:

  • Team member ready to adapt compliance culture and pertaining to operational formalities and requisites
  • Understands the organization’s overall efforts for compliance implementation and consequences of non-adherence. Customise an all-inclusive legal, licensing, and compliance program with features best suited to address your organisation’s needs
  • Produce a detailed and explained legal, licensing, and compliance profile for your organisation
  • Save on legal expenses due to legal, licensing, and compliance violations
  • Ensure that your company is running with the most streamlined processes in legal, licensing, and compliance management
  • Employ and engage the right people to ensure that legal, licensing, and compliance policies are implemented properly

Personal Benefits

Professionals who participate in this course can benefit in the following ways:

  • Anti-money Laundering is a growing compliance field for the financial sector and related segments. The aspirants taking this training can contemplate career advancements in this direction. This also helps the organization to groom internally trained resources to take on further responsibilities
  • Employee accountability is of prime importance towards any compliance adherence, this training will help individuals not only to deepen regulatory knowledge but also to gain expertise and investigate further advancements pertaining it
  • Employee compliance adherence is tied to their performance and career advancements, this training gives an equal chance for all employees to gain the requisite compliance KRA
  • Learn to strategise corporate risk mitigation against organizational AML risks
  • Be a team player in preventing your organization from the probable issues and penalties faced due to lack of compliance and AML vigilance

Who Should Attend?

This course offers comprehensive knowledge in AML/KYC regulations, compliance, assessment and management. The following individuals or groups will benefit from it:

  • Board of Directors
  • Senior Management of all functions
  • Compliance personnel
  • The front office staff (Customer-facing employees)
  • Back Office staff (eg. Treasury, accounts, revenue & audit, vault ops. etc)
  • Legal team / retained-external counsel
  • Private Banking / Wealth Management operations
  • Securities operations and facilitators
  • Loan (personal & commercial)
  • Insurance advisors
  • HNI operations
  • Human Resource dept
  • Marketing dept
  • Customer relationship team
  • Vendors/Suppliers/Agents – Any Third party banking facilitators
  • New joinee / Orientee in the organization

Course Outline

Module 1 – Methods & Mechanism Basic Overview

  • What Is Money Laundering?
  • Banks and Other Depository Institutions
  • Credit Unions and Building Societies
  • Nonbank Financial Institutions
  • Nonfinancial Businesses and Professions
  • International Trade Activity
  • Risk Associated With New Customers
  • Corporate Vehicles Used to Facilitate Illicit Finance

Module 2 – Funding of Terrorism

  • Terrorist Financing
  • Differences from AML
  • Ways of Operating
  • Funding/Moving of Funds
  • Vigilance & Policies

Module 3 – International Counter ML Mechanism

  • Financial Action Task Force (FATF)
  • The Basel Committee on Banking Supervision
  • FATF-Style Regional Bodies (FSRBs)
  • Organization of American States
  • Key U.S. Legislative and Regulatory Initiatives Applied to Transactions Internationally
  • Key International Initiatives

Module 4 – Compliance Program

  • Assessing AML/CFT Risk
  • AML/CFT Program
  • AML/CFT Training
  • Establishing a Culture of Compliance

Module 5 – Know Your…. Policies

  • Know Your Customer
  • Know Your Employee
  • Know Your Vendor/Supplier

Module 6 – Internal Compliance Adherence

  • Economic Sanctions
  • Sanctions List Screening
  • Politically Exposed Persons Screening
  • Transactions Monitoring

Module 7 – Red Flagging/Authority Alerts

  • Suspicious or Unusual Transaction Monitoring and Reporting
  • STR Decision-Making Process

Module 8 – Co-operating with Law Enforcement

  • Investigations Initiated by the Financial Institution
  • Responding to a Law Enforcement Investigation
  • Investigations Initiated by the Law Enforcement

Module 9 – Advance Engagements

  • Responding to MLAT for AML/CFT Cooperation Between Countries
  • International Inter-Intra Organizational Co-operation & Procedures

Module 10 – Corporate Outlook

  • Obtain Counsel for an Investigation Against a Financial Institution
  • Responding to MLAT for AML/CFT Cooperation Between Countries
  • Organization Reputation Management
  • Media Relations & Correspondence

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.

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