Implementation of Anti Money Laundering AML Framework

🚀 Implementation of Anti Money Laundering (AML) Framework in Financial Institutions 🏦

Overview: This comprehensive course delves into the practical aspects of implementing an effective Anti Money Laundering (AML) framework within financial institutions, as mandated by the AML/CFT Guidelines and Framework issued by regulators. It covers the critical role that FIs such as Banks, Investment Banks, Leasing Companies, Brokerage Houses, Money Exchange Companies, and Investment firms play in preventing money laundering activities.

Key Learning Outcomes:

• Understanding AML Compliance: Gain insights into the core concepts of AML that include Money Laundering, KYC, Beneficial Owners, Customer Due Diligence (CDD), and Identification and Verification processes.

• Risk Assessment: Learn how to identify High-Risk and Low-Risk ML factors, establish thresholds, and perform transaction monitoring.

• Investigation Process: Understand the 7-Step Investigation Process undertaken by the Money Laundering Reporting Officer (MLRO) to investigate suspicious transactions.

• Regulatory Compliance: Explore the roles and accountabilities of key positions such as the MLRO, including the appointment process, and the importance of negative media or adverse media searches in AML/CDD/KYC compliance.

• Practical Examples: Engage with real-world scenarios to apply your knowledge effectively.

• AML Framework Implementation: Learn about the FATF recommendations that emphasize the need for AML measures at both regulator and institutional levels.

Bonus Content:

• Interview Preparation: Get insights into common interview questions for aspiring Money Laundering Reporting Officers, with two dedicated sections - Part 1 and Part 2.

Course Structure:

1. Introduction to AML Framework

   • The importance of AML in the global financial system
   • Overview of FATF recommendations and their impact on financial institutions

2. Core Concepts of AML

   • What is Money Laundering?
   • The role of AML in combating money laundering
   • Understanding KYC, Beneficial Owners, and CDD measures

3. Customer Identification and Verification

   • Best practices for verifying new and existing customers
   • Types and categories of customers and their significance

4. Risk Factors in AML

   • Recognizing high-risk and low-risk ML activities
   • Setting transaction thresholds and scenarios

5. Due Diligence and Compliance

   • The role of employees in the AML process
   • Emphasis on negative media or adverse media searches

6. AML Team Structure and Roles

   • The significance of the MLRO's position within an institution
   • Appointment process of the MLRO and responsibilities

7. ML Risk Assessment

   • Conducting thorough risk assessments to identify potential money laundering risks

8. Transaction Monitoring

   • The importance of monitoring transactions for suspicious activities

9. Investigation Process by MLRO

   • A step-by-step guide to investigating and reporting suspicious transactions

10. Practical Scenarios and Real-World Application

    • Engage with practical examples to solidify your understanding of the AML framework

11. Compliance Terminologies

    • Familiarize yourself with the language used in the corporate world related to compliance and AML

Why This Course?

• Real-World Application: Learn from real-world scenarios, ensuring you can apply your knowledge effectively within the compliance function of financial institutions.

• Expert Guidance: Gain insights from professionals with practical experience in the AML compliance function.

• Educational Advantage: Perfect for both educational and professional purposes, this course will enhance your understanding of AML/CFT.

• Professional Growth: Equip yourself with the knowledge to confidently discuss topics with AML specialists, consider a career in AML compliance consultancy, and advance your research and analysis skills on global AML practices and trends.

Target Audience: This course is ideal for:

• Bankers, Investment Banks professionals
• Leasing Company representatives
• Brokerage House employees
• Money Exchange Company staff
• Investment firm associates
• Compliance and AML professionals seeking to deepen their expertise
• Any individual with an interest in understanding the AML framework and its implementation within financial institutions.

Join us on this journey to master the AML framework and contribute effectively to the fight against money laundering! 🛡️💫