Anti-Money Laundering Training

Course Description

Tafkeer Professional Development is pleased to announce Anti-Money Laundering Training in Dubai UAE where you would 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. 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.

Anti-Money Laundering (AML) training in Dubai is designed to help individuals and organizations understand the risks and consequences associated with money laundering and terrorist financing activities. The training helps participants develop the necessary knowledge and skills to prevent, detect, and report money laundering activities.

In Dubai, AML training is mandatory for financial institutions, designated non-financial businesses and professions (DNFBPs), and other entities regulated by the Central Bank of the UAE. The training is usually provided by specialized training providers or consulting firms, and covers topics such as the international and local AML regulatory framework, customer due diligence (CDD) procedures, and suspicious transaction reporting.

Participants in AML training in Dubai typically include bank employees, financial advisors, accountants, lawyers, and other professionals working in the financial services industry. The training is also relevant for individuals who handle large amounts of cash, precious metals, and gems, and those who work in real estate, law firms, and casinos.

In conclusion, AML training is an essential component of an effective anti-money laundering program and helps participants understand their responsibilities in detecting and preventing money laundering and terrorist financing activities.

It provides general information only and should be accompanied by industry-specific training.

Materials Provided

Course Material File and Hand Outs
Exercise Sheets and Activities

Learning Objectives

Upon completion of this program, the trainee will be better able to:

Know overview of money laundering
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

Topics Covered

This course covers the following topics:

Introduction to anti-money laundering
The money laundering cycle and Common money laundering techniques
Your Obligations to anti-money Laundering
Suspicious matter Reporting
Introduction to Terrorism Financing

Welcome Note

Introduction of trainers & training team
Participant introductions
Pre-evaluation

Course Outline

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
Recognizing and Reporting Suspicious Transactions
Detection Techniques
Investigating 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

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

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.