ANTI-MONEY LAUNDERING

This Anti- Money Laundering and Counter Financing of Terrorism course seeks to equip participants with knowledge pertaining to regulatory and structural requirements needed to comply with Anti-Money Laundering/Counter Financing of Terrorism requirements.

CONTENT

1. INTRODUCTION TO MONEY LAUNDERING

• • MONEY LAUNDERING HISTORY
  • KEY TAKEAWAYS
  • MONEY LAUNDERING A MASSIVE PROBLEM
  • REGULATION REQUIREMENTS

2. ANTI-MONEY LAUNDERING LEGISLATION AND REGULATORY FRAMEWORK

• • INTRODUCTION
  • UNITED NATION CONVENTIONS
  • ANTI-MONEY LAUNDERING LEGISLATION IN THE UK

3. ANTI-MONEY LAUNDERING ORGANISATIONS RESPONSIBILITIES

• • LEARNING OBJECTIVES
  • COMPANY COMPLIANCE
  • Money Laundering Reporting Officer (M.L.R.O)
  • EMPLOYEE SCREENING
  • EMPLOYEE RESPONSIBILITIES
  • ANTI-LAUNDERING POLICIES

4. ANTI-MONEY LAUNDERING RISK BASED APPROACH

• • COMMON TERMINOLOGY USED
  • TYPES OF BUSINESS TO BE IDENTIFIED
  • YOUR CUSTOMERS
  • LOCATION
  • SECTOR
  • DEVELOPING A RISK BASED APPROACH.

5. CUSTOMER DUE DILIGENCE

• • CUSTOMER DUE DILIGENCE
  • SITUATIONS TO APPLY TO
  • CUSTOMER IDENTIFICATION OF BENEFICIAL OWNERS
  • CUSTOMER DUE DILIGENCE MEASURES
  • ENHANCED DUE DILIGENCE (E.D.D.)
  • SIMPLIFIED DUE DILIGENCE (S.D.D.)
  • POLITICALLY EXPOSED PERSONS (P.E.P.
  • RECORD KEEPING
  • HIGH RISK COUNTRIES
  • AML vs. KYC

6. RECORD KEEPING

• • COMMON TERMINOLOGY USED
  • DUE DILIGENCE RECORDS
  • SUSPICIOUS ACTIVITY REPORTS (S.A.R.)
  • TRAINING RECORDS AND AWARENESS
  • GENERAL RECORDS OF INTERNAL A.M.L. CONTROLS
  • USE OF ELECTRONIC DATA
  • DELETION OF PERSONAL DATA

7. IDENTIFYING AND REPORTING SUSPICIOUS ACTIVITY

• • IDENTIFYING SUSPICIOUS ACTIVITY
  • SUSPICIOUS ACTIVITY REPORTING
  • INCLUDED IN EXTERNAL SAR
  • CONFIDENTIALITY
  • CONSENT NEEDED
  • BUSINESS OPERATION AFTER SUBMISSION OF SAR
  • REPORTING SUSPICIOUS ACTIVITY
  • WHISTLE-BLOWING

8. STAFF TRAINING

• • RELEVANT BUSINESS
  • TRAINING PROGRAMS
  • TRAINING REQUIREMENTS
  • NOMINATED OFFICER
  • WHEN TO TRAIN
  • WHEN SHOULD TRAINING BE COMPLETED?
  • CPD TRAINING