Anti Money Laundering (AML) Course Introduction:

Money laundering poses a significant global threat, enabling criminals to legitimize illicitly acquired funds. To combat this menace, organizations and financial institutions require vigilant professionals who understand the intricacies of anti-money laundering processes and regulations. Our Anti Money Laundering (AML) course is designed to provide participants with a comprehensive understanding of AML principles, enabling them to effectively prevent, detect, and report suspicious financial activities. This course equips individuals with the knowledge and skills necessary to safeguard their organizations against financial crime while adhering to legal and ethical standards.

Course Objectives:

The primary objective of our AML course is to empower participants with the knowledge and tools to combat money laundering effectively. By the end of this course, participants will:

1. Understand AML Fundamentals: Develop a solid foundation in AML concepts, including the stages of money laundering, typologies, and key regulatory frameworks such as the Bank Secrecy Act (BSA) and the Financial Action Task Force (FATF) recommendations.
2. Identify Red Flags: Recognize the warning signs of potential money laundering activities within financial transactions, allowing for timely intervention and reporting.
3. Implement AML Compliance: Gain practical skills in implementing AML compliance programs within organizations, ensuring adherence to legal requirements and industry best practices.
4. Conduct Due Diligence: Learn how to perform customer due diligence (CDD), enhanced due diligence (EDD), and transaction monitoring to assess and mitigate AML risks effectively.
5. Report Suspicious Activities: Understand the reporting process for suspicious transactions to regulatory authorities, fostering transparency and cooperation in the fight against financial crime.

Organizational Benefits:

By enrolling employees in our AML course, organizations can expect several advantages, including:

1. Enhanced Compliance: Organizations can strengthen their AML compliance programs, reducing the risk of regulatory penalties and reputational damage.
2. Risk Mitigation: Trained professionals can identify and address potential money laundering risks, safeguarding the organization's financial integrity.
3. Improved Reputation: Demonstrating a commitment to AML compliance helps build trust with customers, partners, and stakeholders.
4. Cost Savings: Early detection and prevention of money laundering activities can lead to significant cost savings by avoiding legal consequences and financial losses.
5. Knowledge Transfer: Organizations benefit from a knowledgeable workforce that can share AML expertise across departments, improving overall resilience against financial crime.

Target Participants:

Our AML course is suitable for a wide range of professionals, including:

1. Compliance Officers: Individuals responsible for ensuring their organization's compliance with AML regulations.
2. Bankers and Financial Analysts: Professionals working in the banking and finance sector who need to understand AML for risk assessment and due diligence.
3. Legal and Regulatory Professionals: Those involved in interpreting and applying AML laws and regulations.
4. Auditors: Auditors who review AML processes and controls within organizations.
5. Law Enforcement Personnel: Individuals in law enforcement who require a strong understanding of AML to investigate financial crimes.

Course Outline

Module 1: Introduction to Money Laundering

1.1 What is Money Laundering?

1.2 The Three Stages of Money Laundering

1.3 Money Laundering Methods and Techniques

1.4 Historical Perspective of Money Laundering

Module 2: AML Regulatory Framework

2.1 Overview of AML Regulations

2.2 International AML Standards (FATF)

2.3 National AML Laws and Regulations

2.4 Regulatory Authorities and Their Roles

Module 3: Know Your Customer (KYC) Procedures

 3.1 Importance of KYC

3.2 Customer Identification

3.3 Customer Verification

3.4 Ongoing Monitoring of Customer Relationships

Module 4: Customer Due Diligence (CDD)

 4.1 Understanding CDD

4.2 Simplified CDD

4.3 Standard CDD

4.4 Enhanced CDD

Module 5: Transaction Monitoring

5.1 Purpose of Transaction Monitoring

5.2 Automated vs. Manual Monitoring

5.3 Setting Thresholds and Alerts

5.4 Investigating Suspicious Transactions

Module 6: Suspicious Activity Reporting (SAR)

6.1 SAR Requirements and Process

6.2 The Role of Financial Institutions in Reporting

 6.3 Protecting Whistleblowers

Module 7: Risk-Based Approach to AML

7.1 Understanding Risk Assessment

7.2 Identifying and Assessing Risks

7.3 Risk Mitigation Strategies

7.4 Risk-Based Policies and Procedures

Module 8: AML in the Digital Age

8.1 Digital Payments and AML

8.2 Virtual Currencies and AML

8.3 Challenges of Online Transactions

8.4 AML in E-commerce

Module 9: Trade-Based Money Laundering

9.1 Trade Finance and Money Laundering

9.2 Red Flags in Trade Transactions

9.3 AML Measures for Trade Finance

Module 10: AML in Correspondent Banking

10.1 Correspondent Banking Risks

10.2 Correspondent Banking Due Diligence

10.3 Regulatory Expectations in Correspondent Banking

Module 11: AML in Real Estate and Luxury Assets

11.1 Real Estate Transactions and Money Laundering

11.2 AML in Luxury Goods Markets

 11.3 Case Studies in Real Estate and Luxury Asset Laundering

Module 12: Case Studies in Money Laundering

12.1 Notable Money Laundering Cases

12.2 Analyzing Money Laundering Scenarios

12.3 Lessons from High-Profile Cases

Module 13: AML Penalties and Enforcement

 13.1 Consequences of AML Non-Compliance

13.2 Regulatory Penalties and Fines

13.3 Criminal and Civil Liabilities

Module 14: International AML Standards

14.1 FATF Recommendations

14.2 Mutual Evaluations and Follow-Up

14.3 Global AML Cooperation

Module 15: AML and Cybercrime

15.1 Intersection of AML and Cybersecurity

15.2 Cyber Threats and AML

15.3 Protecting Financial Institutions from Cyber-Enabled Crime

Module 16: AML Training and Culture

16.1 Building an AML Compliance Culture

16.2 Employee Training Programs

16.3 Ethics and Professionalism in AML

Module 17: AML Audit and Assessment

17.1 Conducting AML Audits

17.2 Evaluating AML Programs

17.3 Corrective Action and Continuous Improvement

Module 18: AML Technologies and Tools

18.1 AML Software Solutions

18.2 Data Analytics in AML

18.3 Blockchain and AML

Module 19: Emerging AML Trends

19.1 Evolving Money Laundering Techniques

19.2 Regulatory Changes and Adaptation

19.3 Predictive Analytics in AML

Module 20: AML Compliance Best Practices

20.1 Best Practices in AML Program Development

20.2 Industry-Specific AML Guidelines

 20.3 AML Benchmarking

Module 21: Ethics in AML

21.1 Ethical Dilemmas in AML

21.2 Whistleblower Protections

21.3 Maintaining Professional Integrity

Module 22: AML in Non-Profit Organizations

22.1 AML Risks in Charities and NGOs

22.2 Due Diligence in Non-Profit Donations

22.3 Regulatory Oversight of Non-Profits

Module 23: AML and Terrorist Financing

 23.1 Identifying Terrorist Financing

23.2 AML Strategies to Combat Terrorism

23.3 International Cooperation Against Terrorist Financing

Module 24: AML in Cryptocurrency and Virtual Assets

24.1 Cryptocurrency AML Challenges

24.2 Regulatory Framework for Cryptocurrencies

 24.3 AML Measures for Virtual Asset Service Providers (VASPs)

Module 25: AML Reporting and Documentation

25.1 Record-Keeping Requirements

25.2 Documentation for Regulatory Compliance

25.3 Preparing AML Reports

General Notes

·         All our courses can be Tailor-made to participants' needs

·         The participant must be conversant in English

·         Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.

·         Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)

·         Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule

·         Course duration is flexible and the contents can be modified to fit any number of days.

·         The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.

·         Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.

·         Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.

·         One-year free Consultation and Coaching provided after the course.

·         Register as a group of more than two and enjoy a discount of (10% to 50%)

·         Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.

·         For any inquiries reach us at training@fdc-k.org or +254712260031

·         Website:www.fdc-k.org