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Roles of Money Laundering Reporting Officer MLRO (AML CFT)

Name: Roles of Money Laundering Reporting Officer MLRO (AML CFT)
Rating: 4.2 (107 reviews)

AML/CFT Compliance and Roles of Money Laundering Reporting Officer (MLRO)

Created byGovernance Risk and Compliance GRC by GRC Professional

Last updated 8/2026

English

English [Auto],

What you'll learn

You will learn about the Concepts related to Money Laundering with examples
You will learn about concept and measures related to Anti Money Laundering (AML/CFT) Compliance
You will learn about the FATF Recommendations related to Monitoring including Ongoing Monitoring
Key Roles and Job Description of Money Laundering Reporting Officer - MLRO in Financial Institutions
Appointment of MLRO, Position and Hierarchy of MLRO, and Internal Reporting by MLRO
Appointment, Hierarchy, Reporting and Accountability of MLROs
High Risk Customers, Areas and their Ongoing Monitoring
Examples and Scenarios of Monitoring of Transactions by MLRO
Currency Transaction Reports (CTRs), Suspicious Transaction Report (STRs) and other Reporting Requirements in AML regime etc.
5 Key Reasons for Significant AML Fines by Regulatory Authorities that MLRO must address
Digital and Crypto Currency Frauds that MLROs should consider and understand
Quiz is added as part of this course to test your knowledge about AML and the role of MLRO in Monitoring
Who is an Ideal MLRO for a Large Financial Institution
7 Steps MLRO follows to investigate a Suspicious Transaction
DOWNLOADABLE AML/CFT CHECKLISTS - AML CFT / CDD KYC EDD TM AND AUDIT CHECKLISTS
DOWNLOAD - AML/CFT - 'INDEPENDENT REVIEW' MODEL CHECKLIST USED BY AML/CFT CONSULTANTS AND REVIEWERS
DOWNLOAD SCREENING CHECKLISTS - CDD KYC Screening Checklists - Customer, PEP, Beneficial Owner, and Negative Media Screening Checklists

Course content

16 sections • 52 lectures • 4h 22m total length

Importance of this Course3:44
Course Instructor's introduction. The instructor is a senior Compliance and Risk Management professional with more than 17 years of work experience with different MNCs and Financial Institutions. Instructor possesses an in-depth knowledge of the AML / CFT, Regulatory Compliance, and Risk Management.
Course Instructor's Introduction2:16
Downloadable Checklists - AML CFT, CDD KYC, EDD and Internal Audit Checklists1:26
Access four practical, downloadable checklists for AML CFT, including customer due diligence (CDD), enhanced due diligence (EDD), red flags and transaction monitoring, and internal audit of AML/CFT practices.
Download Screening Checklists - Customer, Beneficial Owner, PEP, Negative Media.1:01

Money Laundering ML3:43
MLROs are required to understand the concept of Money Laundering and relate the possible money laundering and terrorist financing scenarios with his or her institution. To understand the AML Compliance requirements, the MLROs need to know about the concept of Money Laundering and its various scenarios / examples. Let's discuss money laundering and its various examples.
Need for Strong AML / CFT Monitoring6:03
Explains why banks must monitor unusual, complex, and large transactions, aligned with the institution's knowledge of the customer and risk profile, and addresses enhanced due diligence for high-risk customers.
Example: Need for Strong AML / CFT Monitoring1:14
Analyze the need for strong AML / CFT monitoring of transactions and activities by examining how regulators penalized banks for poor customer due diligence and monitoring.
Example 1 Money Laundering Activities and Using Financial System2:25
Explore examples of money laundering activities, showing how illicit funds from illegal trading flow into a legal real estate business and into the banking system in country X.
Example 2 Money Laundering Activities and Using Financial System1:39
Anti Money Laundering AML1:47
Explain anti money laundering (AML) as a set of laws, regulations, policies, procedures, and controls to deter criminals from using the financial system and to ensure regulatory compliance.
Institutions Exposed to Money Laundering ML1:05
High Risk Customers and Accounts - Politically Exposed Person PEPs6:05
Enhanced Due Diligence (EDD) measures are performed for high-risk activities and customers, including politically exposed persons, NGOs, NPOs, persons belonging to high-risk countries, customers doing cash-intensive businesses, etc. The purpose of EDD measures is to obtain more detailed information to avoid the risk of onboarding criminals or money launderers.
High Risk Customers and Accounts - NPOs NGOs Charity and Trusts Accounts3:42
High-risk accounts or customers are the ones who should be investigated or verified in detail, before onboarding or opening their accounts. These customers pose a greater risk to financial institutions because of higher money laundering risks or terrorist financing risks.
High Risk Money Laundering Classification Factors5:02
Identify high risk customers by non-resident status, complex ownership, and politically exposed persons; assess geographic risk from high corruption countries with weak controls and anonymous or unknown transactions.
Low Risk Money Laundering Classification Factors3:26
Identify low risk money laundering factors by evaluating the customer as a resident, not politically exposed, not cash‑intensive, with a clear income, and recognizing low risk countries with credible evaluations.

Who Is Money Laundering Reporting Officer (MLRO) or AML Officer2:22
MLRO is an experienced and qualified person, who is required to be appointed by the Financial Institutions because it is an AML compliance requirement. MLRO performs various key AML activities including but not limited to transaction monitoring, investigations, and reporting on a day-to-day basis. MLRO is responsible to avoid the risk of money laundering and terrorist financing. Let's discuss about MLRO
Roles and Job Description (JD) of Money Laundering Reporting Officer (MLRO)10:03
Define the money laundering reporting officer’s role in leading AML CFT programs, including risk assessment, policies and systems for KYC and SAR, and regulatory liaison.
Core Requirements To Appoint the MLRO2:42
Appoint the MLRO as a senior, independent AML/CFT expert with 8–10 years of relevant experience to implement the organization’s AML program and EML framework.
Considerations for the MLRO Position4:47
Money Laundering Reporting Officer (MLRO) is a senior management position in financial institutions, and needs to be appointed to comply with AML regulatory requirements. MLROs appointment requires cnsideration of some important factors, so that relevant MLRO is hired and appropriately positioned in organization, to ensure AML compliance. Let's further discuss in this lecture.
Who is an Ideal MLRO for a Large Financial Institution?7:24

Risk Based Transaction Monitoring4:23
Transaction monitoring is one of the AML COMPLIANCE requirements, and it should be planned and performed based on the money laundering and terrorist financing risk assessments. Risk-based transaction monitoring to be performed by MLROs, is a more effective approach to identify and investigate suspicious transactions or activities. Let's discuss risk-based transaction monitoring.
Example - Risk Based Tarnsaction Monitoring3:41
Explore risk-based transaction monitoring by examining how a diligence mismatch with large credits flags a high-risk client, triggering verification, risk profile updates, and suspicious activity reporting.
Monitoring Procedures2:27
Customer Risk Profile and Monitoring2:07
The customer risk profile is the basic information that was provided at the time of opening the account, and that was verified by the Institution. The risk profiles are used to categorize and monitor the transactions and activities of customers.
Examples Risk Based Transaction Monitoring High Risk Customer Case and Business6:12
Apply risk-based transaction monitoring to compare a customer’s history with current volumes, identify suspicious activity, and update risk profiles for high-risk customers, including PEPs and cross-border payments in country X.
Essential AML CFT Monitoring Requirements to be Implemented By MLRO13:13
The MLRO implements automated transaction monitoring with risk-based thresholds. It generates real-time alerts, conducts high-risk monitoring, and files suspicious activity reports.
Example of Screening Process1:58
Outline the due diligence screening for a new bank account, including identity verification and sanctions checks; when a match occurs, the MRO reviews and notifies the FIU to block funds.
Example of Bad Transaction Monitoring by MLRO2:22
Let's discuss what is ineffective or inappropriate or bad transaction monitoring practices, that must be avoided by the MLROs.
Example of Good Transaction Monitoring by MLRO of a Bank or FI4:07
Let's discuss what is Good Transaction Monitoring practice, that should be implemented by the MLROs of the financial institutions especially the banks and similar institutions.
Training of AML CFT Analysts by MLRO2:46
Train AML CFT analysts under the MLRO to monitor transactions daily, interpret alerts, assess customer risk profiles, geographic origins, sanctions, and raise investigative questions to account opening staff for action.
Transaction Records Maintenance by MLRO1:17

Currency Transaction Reporting CTR Requirements2:22
Currency Transaction Reporting or CTR reporting is a mandatory regulatory requirement for specified financial institutions such as banks, and MLROs need to ensure that they are reported to the relevant regulatory authority in a prescribed manner. Let's discuss
Example of Reporting CTR alone and with STR Simultaneously1:27
Let's discuss Currency Transaction Reporting or CTR reporting and Suspicious Transaction Reporting (both reportings are AML compliance requirements) to be ensured by MLROs of financial institutions such as banks.
Suspicious Transactions Reporting Requirements4:24
Let's discuss one of the key reporting to be performed and ensured by MLRO and that is Suspicious Transaction Reporting which is also known as SAR. All banks and other relevant financial institutions are required to prepare SARs and report to the relevant Financial Intelligence Units (FIUs). FIU is part of the relevant AML regulatory authority that collects SARs from organizations and perform monitoring.

Reports Prepared and Presented to the Board and Compliance Committee by MLRO5:50
MLROs, as part of their routine AML Compliance obligations, are required to develop certain important AML-related reports, that are presented before the Compliance Committee/ Senior Management to understand the AML risk posture and related mitigation measures. Such important AML reports that MLRO develops are broadly discussed in this lecture.

Overview of Online Frauds Leading to Money Laundering2:52
Due to the digitalization in the financial institutions, the MLROs must be aware of the Digital Fraud Trends and Techniques, that criminals adopt to penetrate the financial systems for VARIOUS criminal activities such as Money Laundering and terrorist financing. Let's discuss digital frauds that MLROs must consider in the prevention of ML/TF risks.
Common Types of Online Frauds or Money Laundering Part 28:24
Due to the digitalization of Cryptocurrencies, money launderers use different fraudulent methods to perform frauds. MLROs must be aware of such Fraud Trends and Techniques to ensure that banking financial systems are not used by money launderers for illegal activities. Let's discuss common banking frauds that crypto money launderers perform and MLROs must consider them in the prevention of ML/TF risks.
Common Types of Online Frauds or Money Laundering Part 37:22

5 Key Reasons of AML Regulatory Fines that MLRO Must Address20:40
Students will learn the "5 KEY REASONS" why "significant AML Fines" are imposed on financial institutions such as banks, crypto exchanges, MSBs, Online Businesses, Payment Gateways, etc. MLROs of institutions must be experienced and capable enough to address these 5 REASONS, to avoid AML FINES and resulting "Reputational Losses" that arise due to AML Fines.

Understanding Suspicious Activity Report SAR or STR3:40
Example - Suspicious Activity Identification in a Customer Account4:06
5 Essential Elements of Suspicious Activity Report SAR1:47
Examples of Suspicious Transactions for Investigations2:34
Explore examples of suspicious transactions and red alerts that trigger aml investigations, such as undeclared income from high-risk countries and sudden, unexplained increases in ecommerce revenue beyond established profiles.
Scenario Example - 5 Key Elements of Suspicious Activity Report SAR7:14
Demonstrate the five elements of a suspicious activity report through a bank scenario, highlighting cross-border, high-risk wire transfers that misalign with customer profiles and trigger sar.
7 Steps to Investigate Suspicious Transactions by MLRO of Financial Institution13:57
In this lecture, we will discuss the "7 crucial and sequential steps" that MLRO performs to investigate a Suspicious Transaction. We will discuss these 7 Investigation steps with the help of a Suspicious Transaction Scenario. Let's start

MLRO's Internal Reporting Hierarchy and Structure3:28
Money Laundering Reporting Officer (MLRO) is a senior management position in financial institutions, therefore MLROs need to be appointed and appropriately positioned in organizations, to ensure that AML roles and responsibilities are effectively performed. How MLRO is positioned in a financial institution, and to whom the MLRO reports within the institution, are discussed in this lecture.
Accountability of Money laundering Reporting Officer (MLRO)3:22
MLROs of financial institutions are primarily held ACCOUNTABLE for certain core AML activities to be performed, considering relevant AML Laws and regulations, which are discussed in this lecture.

Requirements

No specific knowledge is required to attend this course but if you have a basic level knowledge of AML CFT Compliance, then you should attend.
Any one interested to learn AML/CFT and Roles and Responsibilities of MLRO, should join this course

Description

Hello, and welcome to Roles of Money Laundering Reporting Officer MLRO course.

OVERVIEW OF COURSE

In this course, you will learn important AML/CFT Compliance areas that a Money Laundering Reporting Officer (MLRO) must know, understand, and implement at a minimum to discharge their roles. Various 'Practical Case Studies' are part of this course to help you understand practical issues faced by MLROs in day-to-day AML Compliance and how they overcome these issues to discharge their responsibilities. You can also download checklists used by MLROs as part of AML/CFT Compliance' along with 'Risk Heatmap and Action Plan'.

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In this course, you will find practical answers to the following key questions and AML Compliance areas which are the responsibilities of MLROs;

Who is a Money Laundering Reporting Officer MLRO?
Why are MLROs actually needed, hiring requirements, positioning of MLRO in institutions' Hierarchy and
need for Strong AML Monitoring with examples.
Institutions exposed to Money Laundering which cannot work without MLROs.
Key expectations of regulators from MLROs, Board of Directors, and Management.
Risk Factors to be on the radar of MLRO while performing AML/CFT reviews, risk assessments, and transaction monitoring with examples.
Roles and Responsibilities / Job Description of MLRO, High-Risk and Low-Risk Factors for Consideration of MLRO, and Risk-Based Transaction Monitoring by MLRO with example,
Screening requirements with examples.
MLRO's AML/CFT Reporting Requirements, including Currency Transaction Reporting CTRs, Suspicious Transaction Reporting (STR) / Suspicious Activity Reporting (SAR) requirements,
Key/essential elements of STR/SAR which MLROs must know and implement as a minimum to avoid regulatory fines from Financial Monitoring Units FMUs or Financial Intelligence Units FIUs.
'Good Transaction Monitoring' and 'Bad Transaction Monitoring' with examples of each.
Suspicious Activity Identification, Accountability and the 'Internal Reporting' requirements of MLRO.
Key Digital Frauds on the radar of MLROs and how MLROs prevent them, including frauds committed by Crypto Money Launderers that MLROs must prevent.
5 Key Reasons for Significant AML Fines imposed by Regulatory Authorities that MLROs must know, and how can they ensure that these reasons are managed/avoided to avoid regulatory penalties/fines.
Broader 'AML Compliance' Interview Questions to know before appearing in the job interview for MLRO position
5 Key Reasons for Significant AML Fines by Regulatory Authorities that MLRO must address,

CASE STUDIES

Case Study on MLRO Investigation - 7 Steps MLRO uses to investigate Suspicious Transactions,

Case Studies - SAR and Coverage of 5 Key Suspicious Activity Elements
Case Study - MLRO performing AML Risks Reviews, Developing AML Risks 'Heat Map' and 'AML Risks Action Plan'
Case Study - Why Do MLROs and CCOs Lose Jobs and Face Personal Fines'

DOWNLOADABLE RESOURCES
Downloadable resources include the following;

1. AML/CFT Compliance, Due Diligence CDD KYC, Enhanced Due Diligence EDD, KYC Screening Checklists

2. Transaction Monitoring and Reporting Checklists, Customer Screening, Beneficial Onwer BO Screening, Politically Exposed Persons PEP Screening, and Negative Media Screening Checklists

3. Checklist to Audit of AML/CFT Program

4. 'AML RIsks Heatmap' and 'Action Plan'

MULTIPLE CHOICE QUESTIONS (MCQs)

Multiple Choice Questions (MCQs) are also part of this course to test your knowledge gained through this course.

Other Benefits of Attending This Course:

By attending this course, you can download various AML/CFT and CDD/KYC Compliance Checklists.
On completion, you will get a certificate of course completion, which you can use on your profile to enhance visibility and apply for compliance or AML jobs.
Get lifetime access and a certificate of completion of this course.

Who Should Attend This Course:

Compliance Professionals, including Anti-Financial Crime Compliance Professionals, AML/CFT Compliance Consultants,
Money Laundering Reporting Officers MLROs or Deputy Money Laundering Reporting Officers (DMLROs)
Chief Compliance Officers CCOs, AML/CFT Compliance Managers, AML/CFT Analysts, AML/CFT Reviewrs,
Professionals working in Banks, MSBs, Payment Gateways, Money Exchange Companies, Remittance companies, DNFBPs, such as Real Estate, Gaming, Dealers of Previous Materials, etc.
Professionals working in the Financial Intelligence Unit (FIU) or the Financial Monitoring Unit FMU,
Branch Managers, Business Heads, Operations Managers, and Internal Auditors working in Banks, FinTechs, MSBs, DNFBPs, etc
Chief Risk Officer CRO, Chief Information Security Officer CIO, Risk Managers, and Risk Management Consultants,
Internal Auditors, AML/CFT Auditors, CDD/KYC Auditors,
Students of CAMS, ICA, CA, MBA, ACCA, and Finance
Students of Banking, AML/CFT Compliance, KYC Compliance, and Finance,
Others who want to learn AML/CFT and the Roles of MLROs.

Who this course is for:

Compliance professionals, Anti-Financial Crime Specialists
Compliance Officers, MLROs, Deputy MLROs, AML/CFT Analysts,
Bankers, Investment Banker, Brokerage Houses, Real Estate Agents, Insurance Professionals, Auditors
Compliance and AML CFT Students - CAMS and others
Compliance Risk Management Professionals
Internal Auditors
Others who want to learn about AML CFT Compliance and MLRO

Roles of Money Laundering Reporting Officer MLRO (AML CFT)

What you'll learn

Explore related topics

Course content

Introduction4 lectures • 8min

Understanding Money Laundering, AML, and High Risk Customers and Accounts - FATF11 lectures • 36min

Money Laundering Reporting Officer MLRO and Appointment Considerations5 lectures • 27min

Roles of MLRO - Customers and Transactions Monitoring, AML Trainings and Records11 lectures • 45min

Roles of MLRO - Reporting Requirements under AML/CFT Regulations3 lectures • 8min

Roles of MLRO - Internal Reporting by Money Laundering Reporting Officer1 lecture • 6min

Online Frauds or Money Laundering Activities which MLROs Must be Aware Of3 lectures • 19min

MLRO Roles - 5 Key Reasons Why AML Fines are Imposed by the Regulators1 lecture • 21min

MLRO Roles - Understanding Suspicious Activity Reports SARs and Investigations6 lectures • 33min

MLROs Internal Reporting Structure and Accountability of MLRO2 lectures • 7min

Requirements

Description

Who this course is for: