AML/CTF basics

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).