This training course introduces the anti-money laundering and anti-terrorism programs. Case studies and simulation exercises will illustrate the discussed points.

Learning Objectives:

At the end of this session, participants will be able to:

• Define money laundering and terrorism financing,
• Identify sources of laundered money,
• Discuss money laundering cycle;
• Identify agents of money laundering and terrorism finance
• Apply various methods of preventing money laundering and terrorism financing.

Course Outline

• Legal framework and anti-money laundering players
• Regulatory requirements
• European directives
• COMOFI provisions
• Criminal law provisions
• Anti-money laundering players :
• At the global scale : Financial Action Task Force on Money Laundering
• Organization and TRACFIN mechanisms
• Other players
• Anti-laundering operations - declaration of suspicion
• Bodies subjected to the declaration of suspicion
• Operations subjected to the declaration of suspicion
• Information mentioned in the declaration of suspicion
• Transmission to the TRACFIN and legal guarantees
• Implementation stages and most common techniques of capital laundering
• The laundering process
• Investment
• Stacking-up (aka concealment)
• Integration (aka conversion)
• Review of several techniques that can be simply detected :
• Intervention of a Politically Exposed Figure (PEF)
• Cash remittances or withdrawals with no economic justification
• Agents using multiple bank accounts
• Advanced laundering operations : pass-through entities and offshore structures
• Using pass-through-entities
• Using offshore financial structures
• Other specific techniques : using the art market and the real estate market