Become AML/CFT Expert: Zero To Hero Course (Part 2 )

Explore the Fatf, established in 1989 to combat money laundering and terrorist financing, its mutual evaluation, standards, and global implementation to curb illicit financial activities.

Learn about Fatf mutual evaluation, a peer review that rates technical compliance and effectiveness of aml cft regimes, using two criteria and 11 outcomes across member countries.

Explore the FATF 40 recommendations and their role in building national AML/CFT frameworks, from risk assessment and cross-agency cooperation to enforcement, sanctions, and FIU governance.

Apply FATF 40 recommendations to financial institutions by implementing AML/CFT policies, conducting customer due diligence with risk profiling, and enforcing record keeping and enhanced due diligence.

Classify countries into grey list and blacklist categories under FATF recommendations, highlighting increased monitoring, AML CFT deficiencies, and the call for enhanced due diligence.

Explore Fatf style regional bodies as associate members that provide input into standards, offer technical assistance, mutual evaluations, and guidance for laws to combat money laundering and terrorism financing.

Examine Basel aml cft guidelines, core kyc principles, risk assessment, and the three lines of defense to enhance transaction monitoring and suspicious activity reporting.

Explore the eu anti-money laundering directives, focusing on the seventh directive's centralized bank account registry, unified aml-kyc rules, and crypto travel rules for virtual asset providers.

Explore the Egmont Group as a global forum for FIUs, enabling secure information exchange, training, and the development of AML/CFT policies and international standards.

Explore Wolfsberg principles on anti-money laundering and counter-terrorism financing, including private banking due diligence, source of wealth, beneficial ownership, terrorism screening, swift messaging, and risk-based monitoring.

Explore the Patriot Act's provision to control international access points to the US financial system, including section 311 money laundering measures, beneficial ownership, and correspondent and payable-through accounts.

Explore how the office of foreign assets control enforces extraterritorial sanctions through blocking assets, lists, sectoral programs, and licenses guiding U.S. persons’ compliance.

Concluding remarks frame becoming an AML/CFT expert as a growth journey beyond CAMS, focusing on real-world AML safety, regulatory insights, and evolving tools like machine learning for transaction monitoring.