Course Overview

Banks and financial institutions have had anti-money laundering (AML) measures in place for some time. So criminals must look for ‘easier’ targets and new ways to launder their ill-gotten gains. This has brought many more professions within the scope of AML rules. This includes lawyers, notaries, accountants, insurers, high-value goods dealers and so on.

This course is designed to provide a good grounding in how criminals exploit systems and processes to launder money, plus how to mitigate the risks. Packed full of real-life case studies and practical, worked examples, this course is ideal for those working in risk management or compliance in both financial and non-financial firms, who must develop an AML compliance framework.

Course Objectives

The key objective of this Anti Money Laundering Regulations, Compliance, Process and Policy course is to empower professionals to—

• Explore the foundations of money laundering and terrorist financing and why sanctions are important
• Appreciate the vulnerabilities of financial institutions to money laundering and terrorist financing
• Discover what anti money laundering and combating terrorist financing is in practice and what the legal and regulatory structures look like
• Understand management obligations and the risk-based approach to money laundering and terrorist financing

Who Should Attend?

·        Bankers and other executives involved in various functions and transactions

·        Managers overseeing multiple functions across the bank or other financial institutions

·        Top management of organisations responsible for making growth- and policy-related decisions for the organisation

·        Compliance officers responsible for ensuring adherence to required standards and regulations

·        Legal officers playing a critical role in cases of money laundering

·        Any other professional interested in knowing more about anti-money laundering

Course Outline

This Anti Money Laundering Regulations, Compliance, Process and Policy course offers the following training on anti-money laundering:

Module 1 – Three Stages of Money Laundering

·        Placement

·        Layering

·        Integration

Module 2 – Causes of Money Laundering

·        Absence of legislation

·        Tax evasion

·        Increase in profits

·        Converting black to white money

·        Limited risks of exposure

Module 3 – Predictive Crimes for Money Laundering

·        Corruption and bribery

·        Drug trafficking

·        Human trafficking

·        Arms trafficking

·        Smuggling

·        Terrorism

·        Environmental crime

·        Organised crime

·        Fraud

Module 4 – Money Laundering Techniques

·        Bulk cash smuggling

·        Structuring/Smurfing

·        Cash-intensive business

·        Trade-based laundering

·        Shell companies

·        Bank capture

·        Real estate laundering

·        Casino laundering

Module 5 – Risks to Banks from Money Laundering

·        Reputational risks

·        Legal risks

·        Operational risks

·        Concentration risks

Module 6 – Fundamentals of Anti-Money Laundering Practices

·        Written policies

·        Compliance officer role

·        Training

·        Review

Module 7 – Anti-Money Laundering Organisations and Initiatives

·        Financial Action Task Force

·        International Monetary Fund

·        World Bank

·        European Union and the European Council

·        United Nations Office on Drugs and Crime

Module 8 – Unusual Activities Acting as Anti-Money Laundering Red Flags

·        Large cash transactions

·        A large number of transactions

·        Spikes in activity or amounts

·        Cash-heavy business-related transactions

·        Transactions from jurisdictions with money laundering history

·        Transactions related to potential money launderers

·        Offshore international activity

·        Secured and unsecured lending

Module 9 – Emerging Trends in Anti-Money Laundering Practices

·        Focus on digital payment-related issues

·        Use of third-party utilities

·        Adoption of enterprise-level approaches

 

·        Adoption of analytics

Module 10 – Important Aspects of Third-Party Vendors 

·        Comprehensive data from numerous sources

·        Individual identity verification

·        Media monitoring for adverse mentions

·        Frequent updates

·        Effective integration capabilities

·        System scale and speed

·        Workflow automation

 

 

Module 11 – Types of Software Addressing Anti-Money Laundering

·        Transaction monitoring systems

·        Currency transaction reporting systems

·        Customer identity management systems

·        Compliance management software

Module 12 – Challenges in Anti-Money Laundering Compliance

·        Increased governance

·        Lack of skilled personnel

 

·        Complicated processes and technology

 

 

 

General Notes

·        All our courses can be Tailor-made to participants' needs

·        The participant must be conversant in English

·        Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.

·        Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)

·        Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule

·        Course duration is flexible and the contents can be modified to fit any number of days.

·        The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.

·        Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.

·        Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.

·        One-year free Consultation and Coaching provided after the course.

·        Register as a group of more than two and enjoy a discount of (10% to 50%)

·        Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.

·         For any inquiries reach us at training@fdc-k.org or +254712260031

·        Website:www.fdc-k.org