Anti-Money Laundering Awareness
Overview
All regulated firms must have appropriate tools and resources to combat Money Laundering and Terrorist Financing. Staff awareness of Money Laundering and Terrorist Financing risks and training in the essential procedures and controls is a fundamental part of this process.
This course explains how financial services firms can be used for Money Laundering and Terrorist Financing activities and describes the essential procedures and controls that firms must have in place to prevent those risks. It also explains the obligations of firms and their employees under the applicable laws and regulations, as well as the potentially severe consequences for themselves and their firms if they fail to comply with them.
This course can be tailored for: Asset Managers, Wealth Managers, Banks, Brokers, Lawyers, Accountants, and Estate Agents.
Who is this for?
This course is relevant for all staff working in the financial services industry.
Learning Outcomes
After attending this course, participants will be able to:
- Understand how financial services firms may be used for Money Laundering and Terrorist Financing activity and the procedures that must be carried out to prevent it
- Understand their obligations under the applicable laws and regulations and know what they must and must not do to comply with them
- Understand the functions of the Money Laundering Reporting Officer (MLRO)
- Know how to carry out risk-based Customer Due Diligence (CDD)
- Know how to identify and report suspicious activity
Course Details
- Money Laundering and Terrorist Financing defined: the nature and scale of the problem
- The stages of Money Laundering and CTF and where financial services firms could be vulnerable
- FATF initiatives, UN Sanctions, UAE Federal Laws and DFSA Rules
- Specific issues to the region
- DFSA requirements applicable to all firms
- The functions of the Money Laundering Reporting Officer (MLRO)
- The concept and practice of the 'risk based approach'
- Customer due diligence: Know Your Customer (KYC) and customer risk assessment
- Verification of identity: individuals and corporates
- The risks associated with Politically Exposed Persons (PEPs) and higher risk jurisdictions
- Ongoing transaction monitoring and Customer Due Diligence (CDD)
- Identifying and reporting suspicious activity
- Record keeping
- Offences and penalties under the Federal Law and DFSA Rules
Delivery
Have the flexibility to deliver your In-House training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.
