ANTI-MONEY LAUNDERING course

A practical, introductory-level course that will give you a solid understanding of core money laundering and terrorist financing risks.  Suitable for operational or front-line staff as well as those considering embarking on a new career in AML as a stepping-stone for study at a higher level.

In recent years, Financial Crime has hit the headlines, and the spotlight is firmly on compliance. CAMS is an established global qualification that outlines the key principles of money laundering, and how to prevent it. In as little as three months, individuals and teams can be certified as Anti-Money Laundering Specialists.

Terrorist Financing
This topic provides and explanation of Terrorism, Sources of Terrorist financing, the objectives of Terrorist organisations, and the impact of Money-laundering and financing terrorism.

 

Anti-money laundering legislation
This topic looks at the various Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) legislation in South Africa. Legislation covered include FICA, POCA and POCDATARA.

Role players and their responsibilities
This topic focuses on the various players in the AML/CFT arena and explains their responsibilities in terms of Reporting, Risk Management, Internal Controls,

Outcomes

At the end of the course, the student should be able to:

1. Appraise, analyse and synthesize the concepts of anti-money laundering/counter financing of terrorism (AML/CFT).

2. Identify typologies and incidences of  money laundering and financing of terrorism.

3. Examine measures against money laundering and initiatives taken by various organizations to combat terrorism.

4. Examine the implications of offshore financial centers and non-cooperative countries on AML/CFT.

5. Comprehend regulations applicable to the financial sector.

6. Recognize the implications and penalties for non-compliance with Anti-Money Laundering legislations.

7. Identify and be able to comply with requirements ushered in by the latest legislation in AML/CFT.

8. Undertake due diligence measures to deter money laundering and terrorist financing.

9. Implement relevant AML/CFT measures in their particular sectors.

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.

COURSE 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

    • INTRODUCTION
    • COMMON TERMINOLOGY USED
    • COMPANY COMPLIANCE
    • REPORTING OFFICER
    • 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

    • INTRODUCTION
    • COMMON TERMINOLOGY USED
    • 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

6. RECORD KEEPING

    • INTRODUCTION
    • 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