|04 - 08 Nov 2024||Online||$3,950|
The Anti-Money Laundering (AML) Compliance Masterclass, offered by GLOMACS, is designed to develop the essential skills necessary for attendees to understand how to support their companies in anti-money laundering and countering terrorist finance. This intensive and efficient training course will equip participants to prevent, detect, and report money laundering activities. The course covers the regulatory environment, focusing on the importance of Know your Customer (KYC) practices, Customer Due Diligence (CDD), sanctions monitoring, and the Money Laundering Reporting Officer role.
The Masterclass offers hands-on training in understanding the AML process and the laws that make it a crime, raising awareness of financial crime risks, global rules and regulations, industry-specific risks, and the systems and controls to detect and prevent financial criminal acts. The training methodology includes case studies, group live presentations, ongoing discussions of worked examples, videos, and group discussions, fostering interactive and experiential learning.
Attending the AML Compliance Masterclass will have a significant organizational impact by providing more effective support for AML teams, leading to greater relevance, reliability, strategic thinking, and focus on performance. This course will also benefit attendees personally by enhancing their understanding of money laundering, terrorist financing, and sanctions. It will increase their awareness of industry practices, problems, and solutions and improve self-confidence, motivation at work, and job satisfaction. This course suits staff with specific anti-money laundering duties, AML compliance professionals, senior management, all teams working in financial services, and anyone considering a career in anti-money laundering or fraud prevention.
This Anti-Money Laundering (AML) Compliance Masterclass is designed to develop the essential skills necessary to enable you to understand how to support your company in Anti-Money Laundering and countering terrorist finance and how to prevent, detect, and report money laundering activities.
This training course covers regulatory environment and focus on the importance of Know your Customer (KYC), the importance of Customer Due Diligence (CDD), sanctions monitoring and the role of the Money Laundering Reporting Officer in practical terms. You will learn about studying the AML risks involved in emerging industry sectors.
This is an intensive and highly practical training course qualifying you to become proficient in the Anti-Money Laundering process and the laws that make it a crime. It will raise awareness of financial crime risks, global laws and regulations, laws and regulations applicable to your jurisdiction, and the systems and controls aimed at detecting and preventing financial criminal acts.
This training course also covers several topics regarding the nature of the services and products offered by the financial services industry (namely managing, controlling and possessing money and property belonging to others) means that it is vulnerable to abuse by money launderers and the aspects of money laundering and initiatives undertaken to combat terrorism including regulations that govern financial institutions.
By the end of this Anti-Money Laundering (AML) Compliance Masterclass training course, you will be able to understand:
- The process of Money Laundering
- Regulations applicable to firms / banks
- FATF roles in Anti-Money Laundering
- The penalties for non-compliance with AML legislation
- How Anti-Money Laundering and Countering Terrorist Financing (CTF) might be prevented?
- How to define the ways in which a Firm / Bank and its staff should protect themselves against the risks of Money Laundering and Terrorist Financing?
- Due diligence measures to deter money laundering and terrorist financing
- The “red flags” might help you to identify, prevent and report any (suspicious or actual) criminal activity
- The implications of offshore financial center on ML
Participants to this training course will receive an overview of the best practices of competing Anti-Money Laundering and terrorist finance. The training methodology includes case studies, group live instruction, presentation and ongoing discussion of worked examples, videos, group discussion and interactive participation is encouraged.
This training course is of direct relevance to Anti-Money Laundering (AML) and as a result the organizations will benefit greatly from their employee’s participation. The organization will gain from:
- Heightened efficiency in assisting the Anti-Money Laundering (AML) squad
- Increased pertinence and dependability in regulatory analysis
- Sharper strategic cognition and emphasis on output
- Enhanced efficacy in identifying high-risk markers
- Equipping staff for escalated accountability
This Anti-Money Laundering (AML) Compliance Masterclass training course will be of personal benefit to delegates by providing you with:
- Comprehending Money Laundering, Terrorist Financing, and Sanctions
- Exposing the susceptibilities of financial institutions to money laundering and terrorist financing
- The architecture of legal and regulatory guidelines regarding anti-money laundering and combating terrorist financing
- Management responsibilities and adopting a risk-infused strategy towards money laundering and terrorist financing
- In-depth cognizance of industry methodologies, challenges, and remediation
- Heightened assurance and comprehension to execute tasks effectively
- Boosted self-belief and enthusiasm in the work environment
- Enhanced job fulfilment through providing top-notch support to management
- Improved capability to oversee, nurture and inspire team members
- The composition of the Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF) framework in your area of jurisdiction
- Your role within the Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF) framework
- Particular remittance service setups and correspondent banking
- Mandated reporting of specific transactions and record preservation
- The implications for non-adherence to your responsibilities.
WHO SHOULD ATTEND?
This GLOMACS Anti-Money Laundering (AML) Compliance Masterclass is designed to deliver the knowledge and skills, providing details of the latest policies and procedures to:
- Staff with specific anti money laundering duties
- Anti-Money Laundering (AML) / Compliance Professionals
- Senior Management
- All Staff working in financial services who want an introduction to anti money laundering
- Anyone who works within the regulated financial sectors, or to a career in anti-money laundering or fraud prevention
- Treasury Managers
- Regulator or Advisor of Product / Services
- Credit Managers
Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
- Why the Current Focus on Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)?
- Money Laundering & the Financing of Terrorism Definitions
- Differences and Similarities between Money Laundering and Terrorist Financing
- Key Stages of Money Laundering
- Typologies & Techniques of Money Laundering
- Indicators of Money Laundering
- Products and Services Vulnerable to Money Laundering or Terrorism Financing
- Money Laundering Trends in (Jurisdiction)
The International Organizations of Anti-Money Laundering (AML) / Countering Terrorist Financing (CTF)
- The International bodies’ response to Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
- The International Measures to Prevent Money Laundering and Financing of Terrorism
- The Complex and Interrelated Risks with Respect to Money Laundering and Sanctions
- FATF and Its Roles of Anti-Money Laundering (AML)
- Customer Policies and Procedures
- International Legislation and Legislation Applicable to Your Jurisdiction
- The Wider Context for Financial Crime Risk and Regulation in which Your Firm Operates
- The Role and Responsibilities of (Front / Back Office / AML / Compliance Officer), and How these fit within the financial crime risk-management life cycle?
- Jurisdiction Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)
- Laws and Regulations
- The Requirements for Robust Anti-Money Laundering Operations, Internal Controls, Procedures and Policies
- Cooperation with the Authorities and the Regulators
- Know Your Customer (KYC) and ID&V Rules
- Market Abuse and Insider Dealing
- Client Relations and Human Resources Strategies
- The Relevant Laws and Regulations in Your Jurisdiction, The International Standards and The Role of Law Enforcement
Recognizing and Reporting Suspicious Transactions
- Statutory Obligations
- Identifying Suspicious Transactions
- Internal and External Reporting of Suspicious Transactions
- Identifying High-risk Indicators - Understand what to do with the information and whom to escalate it to
- The Role of the MLRO
- The Importance of Record Keeping
- Responsibilities of Firms / Banks and Individuals
- Setting-up Monitoring Procedures
Money Laundering Detection Techniques
- Prevention, Detection and Due Diligence
- Early-Warning Mechanisms
- Designing Money Laundering and Terrorist Financing Risk Assessments
- Applying Know Your Customer (KYC) & Customer Due Diligence (CDD )
- Risk Management of Politically Exposed Persons (PEPs)
- Best Practices Applicable to Firms / Banks
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Endorsed Education Provider
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
In Association With
Our collaboration with Petroknowledge aims to provide the best training services and benefits for our valued clients
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
Our collaboration with KC Academy aims to provide the best training services and benefits for our valued clients
GLOMACS Training & Consultancy
Typically replies within an hour