Anti Money Laundering and Compliance

Anti Money Laundering Course Overview:

This Anti-Money Laundering (AML) Compliance is designed to develop the essential skills necessary to enable you to understand how to support your company in Anti-Money Laundering and countering terrorist finance and how to prevent, detect, and report money laundering activities.

This training course covers regulatory environment and focus on the importance of Know your Customer (KYC), the importance of Customer Due Diligence (CDD), sanctions monitoring and the role of the Money Laundering Reporting Officer in practical terms.

You will learn about studying the AML risks involved in emerging industry sectors. This is an intensive and highly practical training program qualifying you to become proficient in the Anti-Money Laundering process and the laws that make it a crime. It will raise awareness of financial crime risks, global laws and regulations, laws and regulations applicable to your jurisdiction, and the systems and controls aimed at detecting and preventing financial criminal acts.

This training course also covers several topics regarding the nature of the services and products offered by the financial services industry (namely managing, controlling and possessing money and property belonging to others) means that it is vulnerable to abuse by money launderers and the aspects of money laundering and initiatives undertaken to combat terrorism including regulations that govern financial institutions.

What we learn in Anti Money Laundering:

By the end of this training course, you will be able to understand:

  • The process of Money Laundering
  • Regulations applicable to firms / banks
  • FATF roles in Anti-Money Laundering
  • The penalties for non-compliance with AML legislation
  • How Anti-Money Laundering and Countering Terrorist Financing (CTF) might be prevented?
  • How to define the ways in which a Firm / Bank and its staff should protect themselves against the risks of Money Laundering and Terrorist Financing?
  • Due diligence measures to deter money laundering and terrorist financing
  • The “red flags” might help you to identify, prevent and report any (suspicious or actual) criminal activity
  • The implications of offshore financial center on AML

Course Outline

Risk & Methods of Money Laundering & Terrorism Financing

  • What is Money Laundering?
  • Three stages in the Money Laundering Cycle
  • Consequences of Money Laundering
  • Methods of Money Laundering in Banks & depository institutions
  • Money laundering in correspondent banking
  • Payable through accounts
  • Concentration accounts
  • Risks of private banking
  • Politically Exposed Persons (PEPs) & associated Risks
  • Structuring
  • Cuckoo Smurfing
  • Money Laundering Risk associated with Credit Card
  • Third Party Payments processors
  • Money Services Business
  • Insurance companies
  • Risk of New Technologies
  • Case Studies

International AML/CFT Standards

  • Financial Action Task Force (FATF)
  • FATF Objectives
  • FATF 40 Recommendations
  • FATF Members, Observers & Regional bodies

UAE AML Compliance Framework

  • Federal Laws & Regulations
  • National Risk Assessment
  • Recent Development
  • FIU of the Central Bank of the UAE
  • Understanding AML/CFT Risk
  • Consequence of noncompliance

AML/CFT Program

  • The Elements of an AML/CFT Program
  • Culture of Compliance
  • Overview of AML/CFT Policies
  • Know Your Customer
  • Customer Due Diligence
  • Elements of Customer Due Diligence Program
  • Enhance Due Diligence for High-Risk Customers
  • Account Opening, Customer Identification & Verification
  • Tipping off & Confidentiality
  • Consequences of Willful blindness or purposeful indifference
  • Politically Exposed Persons Screening
  • Know Your Employee
  • Transaction Monitoring
  • Suspicious Activities Reporting Matrix
  • ML & TF Red Flags
  • Case studies

Sanctions

  • Economic Sanctions
  • Sanctions List Screening
  • Case Studies
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    CANDIDTES WHO WANTS TO EXPERT IN ANTI MONEY LAUNDERING

    Frequently Asked Questions?

    • To communicate effectively
    • To face for the interviews 
    • To find a better job opportunity
    • To speak with different nationalities
    • We engage the students in more practical sessions with our certified trainers.
    • Online and offline
    • We have Cambridge certified trainers with corporate level experienced.
    • You will get more practical knowledge than theory.
    • You will be trained by experts.
    • You will get both institutional certificate and the KHDA certificate.
    • Spoton provides you the facility to schedule the classes according to your availability.
    • You will get the study materials to study further.
    • This course is about how we use the English theoretical knowledge into practice.
    • The Course is designed approximately one and half months.
    • The duration can be adjustable according to your needs.
    • If you need to complete the course as soon as possible we can provide you for fast track.
    • It will depend on the student’s and the trainer’s availability.
    • You can select any three days including both weekdays and weekends.
    • Timing will be flexible ( 2 hours per day)
    • It is open from 9.30am-9.00pm

    We offer two certificate:

    • Institutional certificate
    • KHDA certificate (Knowledge & Human Development Authority of Dubai)

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