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AML/CTF basics
Rating: 4.7 out of 5(61 ratings)
98 students

AML/CTF basics

AML, CTF, KYC, Due Dilligence, PEP
Created bySIA Compliance Baltic
Last updated 6/2024
English
English [Auto],

What you'll learn

  • What is and what is not money laundering
  • What is terrorism and proliferation financing
  • Requirements to Internal control system
  • KYC, Due diligence, Suspicious situations
  • Political Exposed Persons

Course content

2 sections • 6 lectures • 1h 25m total length

  • What is money laundering, terrorisms and proliferation financing?20:47

    Explore money laundering, terrorism financing, and proliferation financing, detailing the three-stage cycle: placement, layering, integration, and how to spot and report suspicious transactions to financial intelligence units.

  • The role of the private sector4:46

    The private sector, especially financial institutions, detects money laundering and terrorist financing under anti-money laundering duties, while collaborating with state agencies to train staff and report suspicious activity.

  • Risks and Institutional system20:00

    Explore the economic and reputational risks of money laundering and terrorist financing, and learn the multi-layered institutional framework, FATF standards, and key compliance roles (FIU, AML, supervision, KYC).

  • Internal Control System6:54

    Establish an internal control system to prevent money laundering and terrorist financing, with risk assessment, KYC procedures, data storage, and reporting to the FIU; train staff and assign roles.

  • Test 1

Requirements

  • There are no prerequisites for this course.

Description

Today majority of countries, banks, financial and a number of non financial institutions have encountered with local and international legislation in the field of money laundering and terrorism financing prevention (AML&CTF). An essential element is to ensure adequate training for employees. Internal controls of a company will not work properly without having insight of AML&CTF area. The course AML&CTF basics gives insight in to the AML&CTF world and offers explanations about main duties in this regard. The course has been developed using the knowledge and experience of AML&CTF experts with practical experience in the financial industry for many years thus ensuring high quality of the product. One of the main emphasis of the course is to teach in a simply manner avoiding wording understandable only by experts. The training is intended for a wide spectrum in both, financial and nonfinancial sector. It includes case studies, situation based practice scenarios, test at end of the each section.

Main topics to be covered:

Level 1

  • What is money laundering?

  • What is terrorism and proliferation financing?

  • The role of the private sector in the fight against money laundering, terrorism and proliferation

  • Institutional system

  • Internal control system

Level 2

  • Know your client

  • Due diligence

  • The ultimate beneficiary

  • Politically exposed person

  • Customer monitoring

  • Analysis of suspicions cases

There are no prerequisites to start this course and can be completed in ~2 hrs (including situation based practice scenarios & tests).

Who this course is for:

  • Working professionals for different industries who are looking to understand the AML/CTF requirements

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