Anti-Money Laundering

This is anti-money laundering (AML) training – a compliance course designed for people who don’t particularly get excited about AML compliance training, but have to take it anyway, in order to satisfy compliance requirements set out by Financial Transactions and Reports Analysis Centre of Canada, better known as FINTRAC.

This is all driven by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Canada’s federal laws to “facilitate combatting the laundering of proceeds of crime and combatting the financing of terrorist activities.”

So, in order for your company to stay operational, and keep making bank, it needs to show FINTRAC that it has a kickass compliance program. And in order for a compliance program to be kickass, it needs to have FIVE things: An appointed compliance officer; written compliance policies and procedures; a proper risk assessment of your company’s business activities and relationships; a written, ongoing compliance training program; and an effectiveness review of the company’s overall compliance program, in order to ensure it is doing everything it can to detect and prevent money laundering and terrorist financing activities.

The course is designed for Canadian financial entities, securities dealers and life insurance companies. And after the course, you’ll know:

• How your company is vulnerable to money laundering;

• How to detect and deter money laundering and terrorist financing activities;

• Your regulatory obligations, policies and procedures to combat money laundering and terrorist financing;

• Know Your Client (KYC) requirements;

• When to identify individuals;

• Beneficial ownership requirements;

• Confirming the existence of an entity;

• Politically exposed persons; and

• Ongoing and enhanced monitoring.