Compliance Essentials Course Library

Anti-Money Laundering & Counter-Terrorist Financing Course

When the proceeds of crime find their way into the formal economy via a web of transactions that are designed to conceal their true origins this is money laundering.

To prevent this criminal activity, nearly all countries in the world have committed themselves to extremely tough laws against money laundering that incur severe penalties.

Terrorist financing can come from rogue regimes or well-organised terrorist organisations that feed their cells around the world under the cover of trade payments, investments, remittances and money for education.

Our Anti-Money Laundering & Counter-Terrorist Financing Course covers regulatory regimes across 17 key regions.

We also have a UK focussed AML & CTF Compliance Course.

Compliance Essentials Course Library

About this Course

Our global Anti-Money Laundering & Counter-Terrorist Financing Course helps your employees to understand their obligations in relation to preventing these crimes including due diligence and reporting suspicious activity.

Learning Objectives

This course will prepare your employees to:

Define money laundering and terrorist financing
Recognise their legal obligation to prevent money laundering and terrorist financing
Explain your company's policies & procedures for the prevention of money laundering & terrorist financing
Conduct proportionate risk-based Customer Due Diligence
Spot common red flags and taking appropriate action
Know when & how to seek advice or report suspicions of money laundering or terrorist financing
Fulfil their obligation not to tip-off anyone suspected of money laundering or terrorist financing

New in 2021

Full design review conducted by an AML expert.

Text & image updates throughout the course
New pages, activities & scenarios
News illustrative AML story
New Canadian legislation section
Clarification added regarding reporting & tipping off
Updated scenarios & learning activities
Updated post-course assessment questions

Course Outline

Welcome

What is money laundering?

- What is terrorist financing?
- You make the call: Is it money laundering or terrorist
- financing?
- How does money laundering work?

Consequences: In the news…

- How could you get implicated?
- You make the call: What's the risk?

AML/CTF controls

- What this means for you
- Exercise: Dos and don'ts of AML/CTF compliance

Customer due diligence (CDD)

- Assessing risk
- Standard CDD
- You make the call: Is the evidence sufficient?
- Best practice for standard CDD
- Scenario: The distance sale
- Scenario: Customer who can't provide full evidence
- Due diligence of other entities
- Scenario: UHNW customer
- Scenario: The delay
- Simplified due diligence (SDD)
- Enhanced due diligence (EDD)
- You make the call: What level of due diligence?

Politically exposed persons (PEPs)

- Scenario: Dealing with PEPs
- Our rules on PEPs

CDD: On-going monitoring

- What should you look out for?
- You make the call: To report or not?
- Scenario: The outlier
- Scenario: Derek's case
- Scenario: Nicola revisited

Reporting suspicions

- Scenario: When to report
- Scenario: Avoiding tipping-off
- Record keeping

AML/CTF around the world

- USA
- France
- UK
- European Union (EU)
- Cayman Islands
- Australia
- China
- Germany
- Hong Kong
- India
- Isle of Man
- Japan
- Jersey
- Luxembourg
- Singapore
- Switzerland
- UAE
- What do you think: Is it an offence?

Summary

Affirmation

Assessment

Compliance Essentials Course Library

Course Specifications

Duration

Approximately 40 minutes.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels.

Prerequisites

No previous knowledge or experience required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Assessment

10-question assessment.

Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply by passing the assessment Deployment AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Deployment

AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility).

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.