Anti Money Laundering Regulations, Compliance, Process and Policy

The key objective of this Anti Money Laundering Regulations, Compliance, Process and Policy course is to empower professionals to—
• thoroughly understand all critical areas of anti-money laundering, including regulation, compliance, process and policy
• carefully audit organisational systems and processes to ensure adherence with anti-money laundering guidelines, increasing organisational credibility
• identify challenges and risks from gaps in organisational operations, thus raising money laundering red flags in time and preventing reputational, financial and operational loss to one’s organisation
• mentor other professionals to have a keen eye on all transactions and functions to prevent money laundering within one’s organisation
• audit to ensure adherence to international standards and guidelines, thus preventing financial losses
• apply advanced technology to track transactions and detect possible areas or activities of money laundering, thus managing organisational risks and promoting organisational development
• multitask and successfully oversee multiple functions related to money laundering, thus proving one’s dynamism and versatility to handle greater responsibilities within the organisation, ensuring faster career progression
• draft, review and amend anti-money laundering policies for one’s organisation from time to time to prevent these from getting outdated or incapable of stopping money laundering

Course Content
Three Stages of Money Laundering
• Placement
• Layering
• Integration
Causes of Money Laundering
• Absence of legislation
• Tax evasion
• Increase in profits
• Converting black to white money
• Limited risks of exposure
Predictive Crimes for Money Laundering
• Corruption and bribery
• Drug trafficking
• Human trafficking
• Arms trafficking
• Smuggling
• Terrorism
• Environmental crime
• Organised crime
• Fraud
Money Laundering Techniques
• Bulk cash smuggling
• Structuring/Smurfing
• Cash-intensive business
• Trade-based laundering
• Shell companies
• Bank capture
• Real estate laundering
• Casino laundering
Risks to Banks from Money Laundering
• Reputational risks
• Legal risks
• Operational risks
• Concentration risks
Fundamentals of Anti-Money Laundering Practices
• Written policies
• Compliance officer role
• Training
• Review
Anti-Money Laundering Organisations and Initiatives
• Financial Action Task Force
• International Monetary Fund
• World Bank
• European Union and the European Council
• United Nations Office on Drugs and Crime
Unusual Activities Acting as Anti-Money Laundering Red Flags
• Large cash transactions
• A large number of transactions
• Spikes in activity or amounts
• Cash-heavy business-related transactions
• Transactions from jurisdictions with money laundering history
• Transactions related to potential money launderers
• Offshore international activity
• Secured and unsecured lending
Emerging Trends in Anti-Money Laundering Practices
• Focus on digital payment-related issues
• Use of third-party utilities
• Adoption of enterprise-level approaches
• Adoption of analytics
Important Aspects of Third-Party Vendors to Manage Anti-Money Laundering Activities for Businesses
• Comprehensive data from numerous sources
• Individual identity verification
• Media monitoring for adverse mentions
• Frequent updates
• Effective integration capabilities
• System scale and speed
• Workflow automation
• Adaptable matching algorithm settings
• Re-screening capabilities
• Risk-based approach
Types of Software Addressing Anti-Money Laundering
• Transaction monitoring systems
• Currency transaction reporting systems
• Customer identity management systems
• Compliance management software
Challenges in Anti-Money Laundering Compliance
• Increased governance
• Lack of skilled personnel
• Complicated processes and technology

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 5th – 8th Mar, 2024
2ND BATCH: 30th July – 2nd Aug, 2024
3RDBATCH: 5th – 8th Nov, 2024