Money laundering and terrorist financing are very serious financial crimes. The criminals behind these crimes are using evermore sophisticated methods to move money around and no company is immune.
This course covers the legal obligations of companies to prevent and report money laundering and terrorist financing. Your employees will find out about the systems and procedures that you have in place to prevent financial crime, and what their role is in complying with them.
Define money laundering and terrorist financing
Recognise your legal obligation to prevent money laundering and terrorist financing
Explain our Company's policies and procedures for preventing money laundering and terrorist financing
Conduct proportionate risk-based Customer Due Diligence
Recognise common red flags and take appropriate action
Recognise when and how to seek advice and report suspicions of money laundering or terrorist financing
Fulfil your obligation not to tip off anyone suspected of money laundering or terrorist financing
What is money laundering?
You make the call: Is it money laundering?
What is terrorist financing?
How does it work?
You make the call: Money laundering or terrorist financing?
AML/CTF laws and penalties
UK AML/CTF laws
Offences and penalties
What do you think: Is it an offence?
Our AML/CTF Policy
Best practice for complying with our AML/CTF Policy
Customer due diligence
You make the call: How risky is it?
Standard documentary evidence
Good practice for standard CDD
You make the call: Is it sufficient?
Scenario: Requesting supporting evidence
Due diligence of other entities
Scenario: Private entity CDD
Scenario: The delay
You make the call: Who is considered low-risk?
Scenario: The telephone sale
CDD: Monitoring customer activity
What should you look out for?
You make the call: To report or not?
Scenario: Joe's conviction
Politically exposed persons (PEPs)
What do you think: Can we deal with PEPs at all?
Our rules on PEPs and sanctions
Scenario: Transaction with a sanctioned entity
Scenario: A workaround
Suspicious Activity Reporting (SAR)
Scenario: When to report
Scenario: Avoiding tip-offs
Approximately 40 minutes
Suitable for all staff - examples and interactivities designed for staff at all levels
No previous knowledge or experience required
SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via client style sheet
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
Supplementary four-minute iExpress interactive video provided to create awareness and interest about the topic
AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC
All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility)
Fully customisable on Skillcast Portal CMS
Pre-translated versions not available, but all text content can be exported for translation into all languages
Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary