Who should attend
This flexible course is perfect for anyone who works for a financial institution who really wants to understand the AML threat: new joiners, graduate trainees, compliance staff, IT staff and anyone with direct or indirect exposure to clients /transactions.
The course is also suitable for anyone working in a non-financial business who may be affected by new regulations – real estate and letting staff, lawyers, notaries, accountants, trust providers and high-value dealers.
About the course
Why take the AML Course?
- With the amount of ‘dirty’ money laundered annually now over $2tn, it has become one of the world’s biggest industries
- The scale of fines on financial institutions shows no sign of falling, with new enforcement actions being announced every week by domestic and global regulators
- New regulations, such as 4MLD, have widened the scope of AML enforcement to the legal, accounting, real estate and other sectors
- The focus on how terrorist events and bodies are financed means that there is more direct scrutiny of cross-border transactions
- People trafficking and its finances is an issue that all regulators are keen to highlight and ensure it can be stopped
- Sanctions are a key tool in the fight against financial crime and the penalties for breaches are amongst the largest ever levied by international sanctions bodies
The criminals [individuals and gangs, domestic and cross border] are good at disguising capital flows. This course is packed with real life examples of how they try to get ‘dirty’ money into the system and layer it until it appears clean. You will learn about the typologies they use, the structures that have helped to hide their identities, how they have stayed one step ahead of policies & procedures and how they are helped by ‘malicious insiders’ and other illegal individuals.
What are the benefits of an Online Academy Course?
- Learn and utilise - implement immediately all that you learn during the course
- Become part of a professional learning community - discuss any problems with students and/or the trainer
- Time effective - bitesize chunks so it does not impact on your normal working day
- Cost effective - no travel expenses
- Grow as a team - with multiple licenses your team can access the course and learn together, no matter where they are in the world
A module will be uploaded each week, allowing you to study at your own pace. Your trainer will welcome any questions that arise throughout your course.
Please note that full payment must be made prior to the course start date in order to receive your login details to begin the course.
What Will You Learn?
The course aims to get delegates to a level of ‘professional scepticism’ that regulators believe is crucial in the fight against financial crime and money laundering. It will go behind and beyond the regulations to show delegates how to apply the ‘smell test’ to transactions, individuals and businesses and ensure that the level of suspicious activity reports [SARs] rises. It will cover the newest regulations regarding due diligence and KYC as well as how financial institutions, businesses and individuals can protect themselves against financial crime.
Module 1: The Scale of the Problem, Terminology and Methodology
- A $2tn industry
- Understanding the terminology from both sides
- Placement, layering & integration
- Predicate crimes and their audit trails
- Tax evasion/avoidance & the problem with cash
- The role of financial institutions & obliged entities
- Terrorist financing & people trafficking
- Recent typologies
Module 2: The Regulatory Environment
- FATF/Egmont/Wolfsberg and other international bodies
- EU regulators and their scope of influence
- FinCen & other US regulatory players
- OFAC & sanctions bodies
- Asia Pacific Regulators
- BIS/Transparency International and other trade bodies
- 4MLD & its influence
Module 3: Types of Customer & High-Risk Jurisdictions
- PEPs & PEP Associates
- Trusts/Foundations/Offshore Companies/Charities/LLPs
- High risk jurisdictions – what do we mean by offshore?
- What do the Panama & Paradise Papers tells us?
- Sectors/countries that are particularly vulnerable to ML
- Customer & entity ‘red flags’
Module 4: Due Diligence
- Identification & verification – problems with documents
- KYC – the importance of ‘professional scepticism’
- Enhanced Due Diligence – when and how
- Beneficial ownership – new regulations
- Understanding ‘control’
- Problems with policies & procedures
- The dangers of ‘box ticking’ in DD
- The ‘smell test’ and the importance of SARs
Module 5: Sanctions & the Future
- What are sanctions?
- Types of sanction programme
- SDNs & Blocked Persons
- Restricted goods regulations
- Penalties for sanction breaches
- Assessing weaknesses in global AML programmes
Mark is an experienced trainer and consultant with global knowledge, having lived in the UK, Russia, Qatar and India and trained in almost every country. Having started his career as a stockbroker in London, he worked for US, Dutch and UK banks as a Director in the Sales & Sales Trading depa...
Videos and materials
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.