Anti-Money Laundering and Transparency Monitoring

Tafkeer Professional Development offers Anti-Money Laundering and Transparency Monitoring Training in Dubai and this training on Anti Money Laundering covers topics on Overview of money laundering and Transparency Monitoring, Definitions, techniques and legislative framework and Procedures for mitigating risk presented by money laundering .

Course Description

Would you know how to detect a suspicious transaction in your workplace? Are you aware of the financial and reputational risk that money laundering can pose to your organization?

This course is designed to give you a broad overview of money laundering and Transparency Monitoring. It covers general definitions, common techniques and the broad legislative framework for detecting and reporting illegal activity. It also covers globally recognized procedures for mitigating the risk presented by money laundering and terrorism financing.

Topics covered

This course covers the following topics:

Introduction to anti-money laundering
The Money Laundering Cycle and Common money laundering techniques, and how to avoid them
Suspicious matter Reporting
Transparency and Accountability

Learning Objectives

On completing this course, learners should be able to:

Define money laundering and avoidance
Recognize the key stages in money laundering and common techniques used by money launderers
Identify the objectives and principal elements of a ‘know your customer’ policy
Recognize some common indicators of money laundering
Delegates will be aware of AML/CFT (Anti Money Laundering /Countering of Terrorist Financing) subject and its implications
They will be able to understand the importance of Regulatory Expectations, how to work towards avoiding ML/TF abuse as an Industry professional
Identifying various Risk’s associated from a perspective of ML/TF abuse you will be more alert to fight against the ML/TF abuse, while making a significant contribution to the financial Institution you work with

Course Outline

Understanding Money Laundering and how to avoid it

Introduction to financial crimes Typology

Definition: What are AML and CTF: and how do they work?
Stages of Money Laundering
History of Money Laundering
Why are Countries & Governments Concerned? Risk’s for banks/FI’s and you.
Process of money laundering
Specific Trends/typologies of Money Laundering
The expansion of Money Laundering from drugs to corruption to terrorism
Few indicators of money laundering
Money Laundering: Prevention, Detection, & Investigation

Compliance with Anti-Money Laundering Legislation

International Legislation and legislation applicable to the country where the course is being delivered
Sources of illegitimate funds
Trends in East Africa, ML problem in Africa
Financial Red Flags
Procurement Red Flags
Methods of Money Laundering

Effective Techniques for Interviewing Money Laundering Suspects

Money Laundering & Terrorist Financing
What is the purpose of the interview?
Interrogation versus an Interview,
Characteristics of an Effective Interview,
What to Consider, Who should be Interviewed
What to do if a suspect refuses to talk to make him or her talk professionally.

Recognizing and Reporting Suspicious Transactions

Detection Techniques
Investigating Money Laundering

Money Laundering Detection Techniques

Combating Money laundering-Regulatory framework
Methods and techniques observed in cases involving suspected terrorist financing and money laundering
Internal Controls, Procedures and Policies Cooperation with the Authorities and the Regulators
Know Your Customer (KYC) and Identification and Verification (ID&V) Rules
Prevention, Detection and Due Diligence
Early-Warning Mechanisms
Characteristics of individuals suspected of terrorist financing activities

Transparency Monitoring

Overview of Transparency and Accountability
Concept of Governance
Elements of Transparency
Due Process and Procedures for Effective Service Delivery
Institutional Framework for Enforcing
Transparency and Accountability
Public Ethics, Corruption and National
Development
Leadership, Accountability and Transparency
Management Strategies for Transparency and Accountability
Appraisal of Anti-corruption Policies and Strategies
Transparency and Accountability

Who is the target audience?

This course is suitable for anyone who works within the regulated financial sectors, governments, finance ministries, financial regulatory authorities, including all businesses where large amounts of illegally obtained cash, property or goods could be bought, sold or exchanged.

This course is for professionals in Financial Industry including Banking, Payments, Transaction Banking, Foreign Exchange, Anti-Corruption, Wealth Management industry and Tax regulatory authorities.