Course Methodology

This course is highly interactive with facilitator-led presentations, group discussions and real current case studies.

Course Objectives

By the end of the course, participants will be able to:

• Understand international money laundering standards and the participants' role as an Anti-Money Laundering Officer or Money Laundering Reporting Officer (MLRO) within their organization
• Establish a risk based approach to AML, the AML/CTF Framework, business risk assessments and suspicious activity reports
• Assess customer, product and jurisdictional risk, and identify red flags
• Develop methods for training and culture to identify and combat money laundering activities related to their organization

Target Audience

This course is suitable for Compliance Officers, AML Officers, Money Laundering Reporting Officers (MLROs), Know Your Customer (KYC) analysts, auditors and any other professionals with responsibilities for financial compliance within their organization. 

Target Competencies

• Investigations
• Operational compliance
• Decision making
• Stakeholder communications
• Problem Solving

Introduction to Money Laundering

• Explanation of Money Laundering Laws
• International standards
• Wolfsberg principles
• Office of Foreign Assets Control (OFAC)
• Dubai Financial Services Authority (DFSA) Rulebook

The Role and Responsibilities of a MLRO

• The role of the MLRO
• The annual AML return
• Training and awareness
• Risk based approach

AML in the workplace

• AML policy
• Business risk assessment
• Customer risk assessment
• Customer Due Diligence (EDD)
• Politically Exposed Person (PEP)
• Enhanced Due Diligence (EDD)
• Source of Funds and Source of Wealth (SOF, SOW)

Monitoring and Screening

• Monitoring customers
• Monitoring transactions
• Sanctions
• Screening employees

Culture and Awareness

• Awareness campaign
• Role based training
• Corporate culture

Escalation

• Examples of warning signs
• Record keeping
• Internal Escalation Process
• Suspicious Activity Reports

Tax Evasion

• Tax evasion
• Tax avoidance
• US Foreign Account Tax Compliance Act (FATCA)
• Ensuring compliance