Focus on Anti-Money Laundering & Financial Crime (Online)

IFF Training

IFF Training

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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

Banks and financial institutions have been fined $billions globally and continue to be behind the curve in fighting financial criminals. If you want to avoid regulatory breaches, you – and your colleagues – must be aware of the latest developments and their implication for your employer, country and society.

You will cover the A-Z of Anti-Money Laundering and Financial Crime Compliance. From predicate crimes for money laundering, through the process of identifying and stopping the launderers, to showing the importance of applying your own experience and common sense to isolate these transactions.

You’ll examine sanctions and cybercrime, looking at best practice for dealing with these crucial issues including real examples of best practice in AML/FCC.

You will learn that a culture of ‘box ticking’ is dangerous and insufficient in the fight against financial crime. After the course, you’ll be able to:

  • Identify the way money laundering is all around us and treat customers / transactions / jurisdictions and products with ‘professional scepticism’
  • Understand the global regulations and their recent changes, in respect to UBO/PEPs and CDD
  • Isolate the risks inherent in the different types of financial crime, both internal and external
  • Apply the ‘smell test’ in your daily work and lose any reluctance to report potential infractions

What you’ll learn

  • Identify the way money laundering is all around us and treat customers / transactions / jurisdictions and products with ‘professional scepticism’ .
  • Understand the global regulations and their recent changes, in respect to UBO/PEPs and CDD .
  • Isolate the risks inherent in the different types of financial crime, both internal and external
  • Apply the ‘smell test’ in your daily work and lose any reluctance to report potential infractions

How you’ll learn

  • A module is released each week for five weeks
  • The learning is in bitesize chunks so it does not impact on your normal working day
  • You'll learn via video content, quizzes and other materials
  • You'll be able to interact with the trainer and other students on the discussion forum
  • After the five weeks is over, you have two months to review the material

Programme

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
  • Remediation
  • 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
  • NPPS
  • Cryptocurrencies
  • Assessing weaknesses in global AML programmes

Module 6: The Covid Crisis, its Impact & Potential Consequences

The pandemic, far from deterring the criminals & launderers has led to new predicate crimes and new avenues to wash their ill gotten gains. In addition, we have seen some older laundering techniques come back into vogue. This module examines:

The impact of the pandemic on:

  • the criminals trying to launder money
  • those trying to prevent laundering and the regulatory response
    • The regulatory response
    • The technological advances
  • how they are changing the way AML is being practiced within businesses and the future for financial crime compliance generally.

Experts

Mark Anderson

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

Focus on Anti-Money Laundering & Financial Crime (Online) at IFF Training

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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