Anti Money Laundering - Online

The 9/11 terrorist attacks in the United States have led the international community to formulate new legislations and guidelines to counter the escalating risks of Money Laundering. Across nations, Anti-Money Laundering training and compliance requirements have therefore gained significance.

It is in this light that the American Congress brought about new measures in the form of International Money Laundering Abatement and Anti-Terrorist Financing Act, 2001(Title III of USA Patriot Act, 2001) that amended the Bank Secrecy Act, 1970 and its implementing Regulation. For financial institutions today, failure to comply with these requirements entails severe penalties in addition to increased exposure to compliance, reputational, strategic and operational risks.

This is an online self study course that can be globally accessed 24/7 from any internet enabled computer. También, se ofrece este curso en Español. Llamada para más información.

Available TodayOnlineUSD$125
Instructional Method:
Self-Study
Level: Basic

CEU CREDITSICB CREDITSACAMS CREDITS
793
All financial services managers and employees involved with opening and monitoring customer accounts (regardless of type of account), private banking relationship managers, and employees who process or monitor transactions either isolated or in customer accounts.
Students will be able to:
  • Understand The process of Money Laundering, measures against money laundering and initiatives taken by various organizations to combat terrorism
  • Comprehend the implications of offshore financial centers and non-cooperative countries on Money Laundering
  • Understand the implications and penalties for non-compliance with Anti-Money Laundering legislations
  • Understand Due diligence measures undertaken by financial institutions to deter money laundering and terrorist financing
  • Explain Regulations applicable to banks
  • Describe Certain Principles that are to be adopted by the private banks to guard against money laundering
Basic understanding of financial transactions
"Enjoyed taking this course, material was interesting and I think very relevant to things going on in todays global community."
"The course was easy to use. Terms and concepts were clearly described. The questions throughout the course helped me to gain an understanding how the terms and concepts worked."
Language Options
También, se ofrece este curso en Español. Llamada para más información.
What is Money Laundering
Topics covered include:
  • The definition and process of money laundering
  • Different stages of money laundering
  • Preventive measures against money laundering
Duration: 1 Hour

International Initiatives
Topics covered include:
  • The measures undertaken by various international organizations to prevent money laundering and financing of terrorism
  • Establishment of FATF and its fight against money laundering and terrorism financing
  • Customer polices and procedures
Duration: 1.5 Hours

Customer Identification Program
Topics covered include:
  • The CIP regulations as applicable to banks
  • The risk-based approach that verifies the identity of each customer
Duration: 1 Hour

USA PATRIOT ACT
Topics covered include:
  • Title III of the Act that brings about sweeping changes to anti-money laundering measures
  • Regulations under the Act as applicable to banks
  • The special measures undertaken by private and correspondent banks
  • The initiatives taken to combat terrorism
Duration: 1.5 Hours

Wolfsberg Principles on Correspondent Banking
Topics covered include:
  • Wolfsberg anti-money laundering principles in relation to correspondent banking The CIP regulations as applicable to banks
  • Features of correspondent banking
Duration: 1 Hour

Terrorist related money laundering
Topics covered include:
  • Money laundering network, which largely undertakes financing of the terrorist activities
  • Sources of terrorist financing
  • Various legislations to counter terrorist related funding and money laundering
Duration: 1 Hour

                            JOB AIDS

                            • Exercises
                            • Legislations
                            • Case studies
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