Anti-Money Laundering (AML) for Compliance Officers

Anti-Money Laundering (AML) for Compliance Officers

Course Description


Introduction

 

Welcome to the Anti-Money Laundering (AML) for Compliance Officers training course developed by Cambridge for Global Training. This course is designed to equip compliance officers with the knowledge and skills needed to effectively combat money laundering within their organizations. Participants will explore key concepts, regulations, and best practices in AML compliance through practical examples and case studies.

 

Course Objectives

By the end of the course, participants will be able to:

 

  • Understand the principles and purpose of anti-money laundering (AML) regulations.
  • Identify money laundering risks and typologies relevant to their industry.
  • Implement AML compliance programs tailored to their organization's risk profile.
  • Conduct effective customer due diligence (CDD) and know your customer (KYC) procedures.
  • Detect and report suspicious activities in accordance with regulatory requirements.
  • Develop strategies to mitigate AML risks and enhance compliance effectiveness.
  • Stay updated on emerging trends and regulatory changes in the AML landscape.

 

Who Should Attend

 

  • Compliance officers responsible for ensuring AML compliance within their organizations.
  • AML analysts and investigators involved in monitoring and detecting suspicious activities.
  • Risk management professionals seeking to enhance their understanding of AML practices.
  • Financial services professionals working in banking, insurance, or investment sectors.
  • Legal and regulatory professionals involved in AML compliance matters.
Course Outline


Unit 1: Introduction to Anti-Money Laundering (AML)

 

  • Overview of money laundering and its impact
  • Evolution of AML regulations and international standards
  • The role of compliance officers in AML prevention
  • Key AML concepts and terminology
  • Understanding the risk-based approach to AML compliance

 

Unit 2: AML Regulatory Frameworks

 

  • Global AML regulatory landscape
  • Overview of key AML regulations and directives
  • Regulatory bodies and their roles (e.g., FATF, FCA, FinCEN)
  • Compliance obligations for financial institutions and designated non-financial businesses

 

Unit 3: Customer Due Diligence (CDD) and Know Your Customer (KYC)

 

  • Principles of CDD and KYC in AML compliance
  • Conducting risk assessments and customer profiling
  • Enhanced due diligence (EDD) for high-risk customers
  • KYC documentation requirements and verification procedures
  • Case studies on effective CDD and KYC practices

 

Unit 4: Transaction Monitoring and Reporting

 

  • Identifying and monitoring suspicious transactions
  • Red flags and typologies of money laundering activities
  • Escalation procedures and reporting obligations
  • Suspicious Activity Reports (SARs) and their submission process
  • Collaboration with law enforcement and regulatory authorities

 

Unit 5: AML Compliance Program Management

 

  • Designing and implementing an effective AML compliance program
  • Training and awareness programs for staff
  • Internal controls and audits for AML compliance
  • Evaluating and enhancing the effectiveness of AML controls
  • Emerging trends and challenges in AML compliance
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Anti-Money Laundering (AML) for Compliance Officers
REF code: G-1176
Date: 09 - 13 Dec 2024
City: Madrid
Language: English
Price: 5400 £

Course Description


Introduction

 

Welcome to the Anti-Money Laundering (AML) for Compliance Officers training course developed by Cambridge for Global Training. This course is designed to equip compliance officers with the knowledge and skills needed to effectively combat money laundering within their organizations. Participants will explore key concepts, regulations, and best practices in AML compliance through practical examples and case studies.

 

Course Objectives

By the end of the course, participants will be able to:

 

  • Understand the principles and purpose of anti-money laundering (AML) regulations.
  • Identify money laundering risks and typologies relevant to their industry.
  • Implement AML compliance programs tailored to their organization's risk profile.
  • Conduct effective customer due diligence (CDD) and know your customer (KYC) procedures.
  • Detect and report suspicious activities in accordance with regulatory requirements.
  • Develop strategies to mitigate AML risks and enhance compliance effectiveness.
  • Stay updated on emerging trends and regulatory changes in the AML landscape.

 

Who Should Attend

 

  • Compliance officers responsible for ensuring AML compliance within their organizations.
  • AML analysts and investigators involved in monitoring and detecting suspicious activities.
  • Risk management professionals seeking to enhance their understanding of AML practices.
  • Financial services professionals working in banking, insurance, or investment sectors.
  • Legal and regulatory professionals involved in AML compliance matters.

Course Outline


Unit 1: Introduction to Anti-Money Laundering (AML)

  • Overview of money laundering and its impact
  • Evolution of AML regulations and international standards
  • The role of compliance officers in AML prevention
  • Key AML concepts and terminology
  • Understanding the risk-based approach to AML compliance

Unit 2: AML Regulatory Frameworks

  • Global AML regulatory landscape
  • Overview of key AML regulations and directives
  • Regulatory bodies and their roles (e.g., FATF, FCA, FinCEN)
  • Compliance obligations for financial institutions and designated non-financial businesses

Unit 3: Customer Due Diligence (CDD) and Know Your Customer (KYC)

  • Principles of CDD and KYC in AML compliance
  • Conducting risk assessments and customer profiling
  • Enhanced due diligence (EDD) for high-risk customers
  • KYC documentation requirements and verification procedures
  • Case studies on effective CDD and KYC practices

Unit 4: Transaction Monitoring and Reporting

  • Identifying and monitoring suspicious transactions
  • Red flags and typologies of money laundering activities
  • Escalation procedures and reporting obligations
  • Suspicious Activity Reports (SARs) and their submission process
  • Collaboration with law enforcement and regulatory authorities

Unit 5: AML Compliance Program Management

  • Designing and implementing an effective AML compliance program
  • Training and awareness programs for staff
  • Internal controls and audits for AML compliance
  • Evaluating and enhancing the effectiveness of AML controls
  • Emerging trends and challenges in AML compliance
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