Focus on Anti-Money Laundering & Financial Crime - Online Academy
IFF - International Faculty of Finance
COVID-19 Update
This provider offers an online version of their classroom courses
Who should attend?
This flexible course is perfect for anyone who works for a financial institution who really wants to understand the AML threat: new joiners, graduate trainees, compliance staff, IT staff and anyone with direct or indirect exposure to clients /transactions.
The course is also suitable for anyone working in a non-financial business who may be affected by new regulations – real estate and letting staff, lawyers, notaries, accountants, trust providers and high-value dealers.
Training content
Module 1: The Scale of the Problem, Terminology and Methodology
- A $2tn industry
- Understanding the terminology from both sides
- Placement, layering & integration
- Predicate crimes and their audit trails
- Tax evasion/avoidance & the problem with cash
- The role of financial institutions & obliged entities
- Terrorist financing & people trafficking
- Recent typologies
Module 2: The Regulatory Environment
- FATF/Egmont/Wolfsberg and other international bodies
- EU regulators and their scope of influence
- FinCen & other US regulatory players
- OFAC & sanctions bodies
- Asia Pacific Regulators
- BIS/Transparency International and other trade bodies
- 4MLD & its influence
Module 3: Types of Customer & High-Risk Jurisdictions
- PEPs & PEP Associates
- Trusts/Foundations/Offshore Companies/Charities/LLPs
- High risk jurisdictions – what do we mean by offshore?
- What do the Panama & Paradise Papers tells us?
- Sectors/countries that are particularly vulnerable to ML
- Customer & entity ‘red flags’
Module 4: Due Diligence
- Identification & verification – problems with documents
- KYC – the importance of ‘professional scepticism’
- Enhanced Due Diligence – when and how
- Beneficial ownership – new regulations
- Understanding ‘control’
- Problems with policies & procedures
- The dangers of ‘box ticking’ in DD
- Remediation
- The ‘smell test’ and the importance of SARs
Module 5: Sanctions & the Future
- What are sanctions?
- Types of sanction programme
- SDNs & Blocked Persons
- Restricted goods regulations
- Penalties for sanction breaches
- NPPS
- Cryptocurrencies
- Assessing weaknesses in global AML programmes
Certification / Credits
The course aims to get delegates to a level of ‘professional scepticism’ that regulators believe is crucial in the fight against financial crime and money laundering. It will go behind and beyond the regulations to show delegates how to apply the ‘smell test’ to transactions, individuals and businesses and ensure that the level of suspicious activity reports [SARs] rises. It will cover the newest regulations regarding due diligence and KYC as well as how financial institutions, businesses and individuals can protect themselves against financial crime.
About IFF
International Faculty of Finance - IFF Finance & IFE Energy - Specialist Training Courses
As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage. Established in 1991 we...
