Combating Money Laundering and other Financial Crimes Training

Nowadays, money laundering is gaining both national and international attention hence creating the need for this short course on Combating Money Laundering and other Financial Crimes . Therefore, the pressure is increasing on institutions to comply with the money laundering regulations and take effective steps to combat money laundering. This course aims to provide skills to combat money laundering to both public and private sector officials in a better, quicker and more efficient way by making them familiar with many of the laws and regulations now enhanced to deter money laundering. It will give a holistic overview of money laundering standards and issues, including various processes of money laundering, and impact of money laundering on national and international development.
The Advanced Certification in combating Money Laundering and other financial crimes equips the delegates with the following hands on skills;
 Thorough understanding of money laundering – what it means, how it is practiced, and what sort of
criminal activity can lie behind it
 An awareness of developing money laundering typologies and techniques
 An awareness of the vulnerabilities of specific financial services and products to money
 Laundering and terrorist financing
 A thorough understanding of international strategies to prevent money laundering
 An understanding of how to ensure full compliance with domestic Anti Money
 Laundering (AML)/Counter Financing of Terrorism (CTF) legislation
 The ability to recognize, evaluate and handle suspicious transactions and relationships
 The ability to design and implement an effective system of control for AML/Anti Terrorist
 Financing (ATF) – sometimes referred to as Combating Terrorist Financing or Financing of
Terrorism (CTF/CFT) – within a financial services business
 The ability to risk-profile clients
 The ability to communicate confidently with law enforcement agencies
 The ability to educate and train staff
 The ability to generate essential management information for use in the evaluation and risk profiling of financial services, products and clients, and
 The ability to influence positively the compliance culture of an organization.
Target Audience.
The intended audience includes ministries of finance, other government officials working on financial issues, financial institutions, law firms, staff from both the private and in-house practice like staff of central banks, commercial banks, investment banks, insurance companies, multinational corporations, accountancy firms, and consultancy firms.
Main Training modules.
This course will enable the learner to
Understand the concept of money laundering;
 Appreciate the importance of AML regulation in combatting crime, fraud and terrorism;
 Become aware of obligations under arising under the Prevention of Money Laundering Act,
 Prevention of Money Laundering and Funding of Terrorism of Regulations and other relevant legislation and guidelines;
 Understand the main responsibilities of Senior Management and the Money Laundering Reporting
Officer (‘MLRO’);
 Learn about industry-specific good practice guidance and direction on AML programmes;
 Conduct proper customer due diligence procedures;
 Develop and implement effective systems and controls for the prevention and detection of AML;
 Define the role of the Financial Intelligence Analysis Unit (FIAU).
Introduction to Money Laundering & Terrorist Financing
Learning Outcomes:
At the end of the module/unit the learner will be able to:
 Identify the importance anti-money laundering and counter terrorist financing.
 Identify possibly suspicious activities and red flag indicators for money laundering;
 Identify the laws and regulations that are in place in order to protect organisations, customers and employees.
 Understand the role of the FIAU in the fight against Money Laundering, and understand the duties entrusted to management and the MLRO.
 Identify internal procedures which need to be implemented for the prevention of money laundering.
The Risk-Based Approach And Reporting Requirements
Learning Outcomes:
At the end of the module/unit the learner will be able to:
 Understand why the risk-based approach is important.
 Discuss methods on how to implement the risk-based approach.
 Gain awareness of what constitute a reputable jurisdiction and the effect of international sanctions on
risk categorization.
 Describe the regulations around escalating and reporting suspicious activity.
 Gain awareness and knowledge of how to mitigate risks encountered and to follow up on reporting
and escalations.
 Describe all the necessary requirements around proper structure in reporting and avoiding the risk of tipping-off.
Implementing Customer Due Diligence Procedures
At the end of the module/unit the learner will be able to:
 The importance of KYC procedures.
 The manner in which implementing procedures for the identification and verification of an applicant for
business and a beneficial owner are to be carried out, and the resources, which can be used.
 The procedure to be implemented when the applicant for business not acting as principal.
 The measures for ongoing monitoring of a business relationship, discovering source of wealth and source of funds.
 Simple due diligence & enhanced due diligence procedures.
Governance & Training
Learning Outcomes:
At the end of the module/unit the learner will be able to:
 Become aware of what is needed in the AML framework and what responsibilities will rest with which
functions in the organization
 Understand what records need to be kept and for how long
 Understand the duties and obligations in terms of training & vetting staff
 Gain awareness and knowledge of how to assess and audit the AML structure
 Become aware of common weaknesses & bottlenecks in typical AML frameworks
Way forward after the Training
The delegates, through the help of facilitators will develop work plans. It is expected that the delegates will apply all skills acquired during the training in their work place. ASPM will monitor implementation progress after the training.
Training Evaluation:
Participants will undertake a simple exercise before the training and after the training in-order to monitor knowledge gained through the training.