By the end of this course, delegates will be able to:

• Explain how AML and CTF might be prevented

• Understand the major facets of AML and CTF as they apply to their companies and the international efforts being made to combat them

• Define the ways in which a company and its staff should protect themselves against the risks of Money Laundering and Terrorist Financing

• Detail how a company might become a target for Money Laundering and Terrorist Financing: and explain which “red flags” might help them to identify, prevent and report any (suspicious or actual) criminal activity

• Understand some of the other “hot spots” in Financial Crime

Session 1:

Anti-Money Laundering (AML) and Countering Terrorist Financing (CTF)

• Understanding Money Laundering and Terrorist Financing

• What are AML and CTF: and how do they work?

• The Criminalisation of Money Laundering and Terrorist Financing: and the types of crime caught under the Financial Crime Prevention legislation

• The expansion of Money Laundering from drugs to corruption to terrorism

Session 2:

The International Community’s response to AML and CTF

• The International Community’s response to AML and CTF post-9/11

• Especially the Financial Action Task Force (FATF):

• Its membership categories (this can include a section on particular countries’ membership)

• Its 40 Recommendations for AML and a further 9 Recommendations on CTF

• Its influence over domestic and international legislation

Session 3:

Compliance with Anti-Money Laundering Legislation

• International Legislation

• UK Regulations and Legislation (for comparison): principally The Proceeds of Crime Act 2002 (POCA)

Session 4:

Compliance Strategies

• Internal Controls, Procedures and Policies

• Cooperation with the Authorities and the Regulators

• Know Your Customer (KYC) and Identification and Verification (ID&V) Rules

• Impact on Strategy, Client Relations and Human Resources

Session 5:

Recognising and Reporting Suspicious Transactions

• Statutory Obligations

• Identifying suspicious transactions

• Internal and external reporting of suspicious transactions

Session 6:

Money Laundering Detection Techniques

• Prevention, Detection and Due Diligence

• Early-Warning Mechanisms

Session 7:

The Future

• Where are today’s hotspots?

• What next for AML / CTF?

Session 8:

Other Financial Crime Hotspots

• Fraud

• Information Security

• Market Abuse and Insider Dealing

• Sanctions

Course Close