Money laundering and the financing of terrorism are financial crimes with economic effects. Money laundering requires an underlying, primary, profit-making crime (such as corruption, drug trafficking, market manipulation, fraud, tax evasion), along with the intent to conceal the proceeds of the crime or to further the criminal enterprise. These activities generate financial flows that involve the diversion of resources away from economically- and socially-productive uses—and these diversions can have negative impacts on the financial sector and external stability of member states. They also have a corrosive, corrupting effect on society and the economic system. 

Course Content

• Basic AML/ CFT Concept And Regulatory Responses
• Understanding Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT)
• The historical background and general introduction
• Basic elements and concepts of AML/CF
• Understanding and Responding to Suspicious Transactions
• and Activities
• Understanding predicate offences
• The regulatory framework
• Legislative pronouncement (global and locally)
• Duties and obligations of stakeholders and professionals in AML/CFT regime.
• AML/CFT Implementation Beyond Regulatory Compliance: A Risk Management Strategy
• Indicators and red-flags to suspicious transaction - suspicious activities
• Appropriate reporting - response to suspicious transaction/activities
• Compliance monitoring - basic requirements and how to monitor compliance
• The risk exposure of AML/CFT to individuals, entities, the nation and the globe
• Mitigations strategies to the risk exposure
• Identifying the challenges to effective AML/CFT implementation. AML/CFT and Financial Institutions
• Deposit Money Banks Insurance Firms Capital Market Bureau De Change
• Finance Houses International Finance Institutions Compliance issues continuous Training Requirement.

Target Audience

Financial Institution. Bank Directors, Chairmen, Compliance Professionals, Auditors, Bank Inspectors, Risk Managers and security staff wishing to develop an understanding of AML/CTF techniques and to further their knowledge of ANTI MONEY LAUNDERING /CTF.