AML Fundamentals: Anti Money Laundering for Beginners

Name: AML Fundamentals: Anti Money Laundering for Beginners
Rating: 4.6 (23 reviews)

Master the Essentials of Detecting and Preventing Money Laundering

Created byTechara Pte Ltd

Last updated 6/2023

English

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What you'll learn

Equip learners with the basic knowledge of Anti-Money Laundering
Enhance comprehension of the different phases involved in Anti-Money Laundering
Identify the various types of criminal activities that support money laundering
Understand the differences between Customer Due Diligence and Enhanced Due Diligence
Explain various strategies to prevent Money Laundering
Expand understanding of the concept and practice of transaction monitoring
Learn how to recognize the patterns and behaviors of money laundering

Course content

8 sections • 36 lectures • 1h 1m total length

Introduction0:41

Types of criminal activity that support money laundering3:52
What is terrorism financing?1:54
How terrorism is being financed in recent years0:34
Areas at risk of being exploited for terrorism financing2:16
Identify areas at higher risk of terrorism financing, such as money remittances and banks, and examine vulnerabilities across non-profit organizations, digital payment service providers, and precious stones and metals dealers.
What is proliferation financing?2:08
Indicators of potential proliferation financing1:59
Harms caused by proliferation financing2:01
Proliferation financing funds weapons of mass destruction and delivery systems, threatening international peace. It enables non-state actors, destabilizes regions, and diverts resources from health and education, and harms reputations.

What is anti-money laundering and its purpose?1:05
What is Countering the Financing of Terrorism (CFT)?0:45
Identify the country's terrorism financing risks within a CFT framework, highlight key risk areas, and foster a targeted, risk-based approach for regulators and institutions across the region.
How is CFT different from traditional AML?0:53
Regulatory Authorities, Lists, and Organizations0:41
Combat terrorism financing, proliferation financing, and money laundering by applying international standards set by the Financial Action Task Force (FATF) and IMF to prevent, block, and punish crimes.
Financial Action Task Force (FATF)2:29
Office of Foreign Assets Control (OFAC)1:43
Global Terrorism Database1:20
Common patterns and behaviors of money laundering2:10
Identify common money laundering patterns, including structuring, large cash transactions, no apparent economic purpose, complex multi-account transfers, shell companies, high-risk jurisdictions, PEPs, virtual currencies, and luxury asset deals.
Methods to detect money laundering in society3:11
Quiz

Definition of a Customer1:47
What is customer due diligence?1:12
Simple vs Enhanced CDD1:28
Customer Risk Profiling1:38
Learn how to profile customers for anti money laundering with risk assessments and ratings, considering country, industry, profession, and politically exposed status to determine simplified or enhanced due diligence.
Basic Steps of Customer Due Diligence2:30
What can go wrong if you do not do proper customer due diligence?1:43
Implement proper customer due diligence to manage financial, legal, reputational, and operational risks. Failing to do so can expose the organization to fraud, money laundering, penalties, and damaged relationships.
Quiz

What is transaction monitoring?1:54
Explain how transaction monitoring helps financial institutions detect suspicious activity by flagging transactions that exceed a threshold, unusual patterns, high risk entities, and applying predictive analytics.
How to recognize and detect suspicious transactions & accounts1:39
What is Account Review?1:11
Why is Transaction Monitoring Important?1:26
Identify and prevent financial crime by monitoring transactions for patterns and anomalies, including money laundering and terrorism financing, to support regulatory compliance and reporting of suspicious activity.

Requirements

No experience needed

Description

Welcome to the exciting world of anti-money laundering! I'm Dexter, and I'll be your guide on this insightful journey. In this course, we will delve into the intricacies of a critical topic that significantly impacts the stability of our global financial system.

Whether you're a beginner exploring the world of AML for the first time or a seasoned professional seeking a refresher, this course is designed to provide you with valuable information and insights. We will cover the fundamentals of money laundering, equipping you with the knowledge and skills necessary to tackle this pervasive issue.

Throughout the course, we will explore various aspects, starting with the cycle of money laundering. We will examine how illicit funds flow through different stages and explore the techniques used to obscure their origin. By understanding this process, you will gain a comprehensive perspective on the scope and complexity of money laundering activities.

Additionally, we will discuss the different types of illicit activities that generate proceeds requiring laundering. This will enable you to recognize the signs and patterns associated with money laundering, empowering you to identify suspicious transactions in your professional endeavors.

Finally, we will focus on prevention and detection techniques. You will learn about the legal frameworks and regulations in place to combat money laundering, as well as practical methods for implementing effective AML programs within organizations.

Get ready to dive into this captivating subject as we unravel the mysteries of money laundering together. Join me in this course and equip yourself with the knowledge to safeguard the integrity of the financial system. Let's jump in and embark on this enlightening journey into the world of anti-money laundering!

Who this course is for:

Banking Professionals: This includes those in roles like bank managers, compliance officers, internal auditors, risk management professionals who need to understand money laundering to prevent it.
Financial Analysts: They might be interested in understanding the intricacies of money laundering to better analyze the financial operations of companies.
Accountants and Auditors: Professionals working in accounting and auditing fields can use the knowledge to detect and prevent financial fraud in their organizations.
Any individual interested in financial crime prevention: General awareness about money laundering can be beneficial to a wide range of individuals for personal knowledge and protection.

AML Fundamentals: Anti Money Laundering for Beginners

What you'll learn

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Course content

Introduction1 lecture • 1min

Money Laundering 1013 lectures • 7min

The Cycle of Anti Money Laundering5 lectures • 8min

Criminal Activities that Support Money Laundering7 lectures • 15min

Preventing Money Laundering and Countering Terrorism Financing9 lectures • 14min

Customer Due Diligence6 lectures • 10min

Transaction Monitoring4 lectures • 6min

Outro1 lecture • 1min

Requirements

Description

Who this course is for: