ANTI-MONEY LAUNDERING & COMBATING THE FINANCING OF TERRORISM IN FINANCIAL INSTITUTIONS

INTRODUCTION
Financial institutions play a critical role in protecting the integrity of the global financial system. As criminals and terrorist networks become more sophisticated, the risks of money laundering and terrorist financing continue to grow. Regulators now expect financial institutions not only to comply with AML/CFT rules, but to actively detect, prevent, and report suspicious activities.

This 3-day training course is designed to provide participants with a practical, real-world understanding of AML and CFT obligations. It goes beyond regulations and theory, focusing on how AML/CFT works in daily operations within financial institutions. Participants will gain the confidence to identify risks, apply controls, and respond appropriately to suspicious activities while meeting regulatory expectations.
 

COURSE OBJECTIVES

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

• Understand the fundamentals of money laundering and terrorist financing
• Explain key AML/CFT laws, regulations, and international standards
• Identify money laundering and terrorist financing risks in financial institutions
• Apply effective Customer Due Diligence (CDD) and Know Your Customer (KYC) measures
• Detect red flags and suspicious transactions.
• Understand reporting obligations and regulatory expectations
• Strengthening AML/CFT controls within their organization

COURSE OUTLINE

Module 1: Introduction to AML & CFT

• What is money laundering and terrorist financing?
• Why AML/CFT matters to financial institutions
• Global and local impacts of financial crime
• Consequences of non-compliance

Module 2: Money Laundering and Terrorist Financing Typologies

• Stages of money laundering
• Common laundering methods and schemes
• How terrorist financing differs from money laundering

• Real-world examples and trends

   

Module 3: AML/CFT Legal and Regulatory Framework

• Key laws, regulations, and guidelines
• Role of regulators and supervisory authorities
• Institutional responsibilities

Module 4: Risk-Based Approach to AML/CFT

• Understanding the risk-based approach
• Identifying customer, product, and geographic risks
• Risk assessment at institutional level
• Applying proportionate controls

Module 5: Know Your Customer (KYC) Fundamentals

• Customer identification and verification
• Individual vs corporate customers
• Understanding beneficial ownership

• KYC challenges and best practices

   

Module 6: Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)

• Standard, simplified, and enhanced due diligence
• High-risk customers and transactions
• Politically Exposed Persons (PEPs)
• Ongoing due diligence

Module 7: Transaction Monitoring and Red Flags

• Purpose of transaction monitoring
• Identifying unusual and suspicious behavior
• Common red flags across products and services

• Role of technology and automation

   

Module 8: Suspicious Transaction Reporting (STR/SAR)

• When and how to report suspicious transactions
• Internal escalation processes
• Regulatory reporting obligations
• Confidentiality and tipping-off rules

Module 9: AML/CFT Governance and Internal Controls

• Roles of the board, management, and compliance
• AML/CFT policies and procedures
• Segregation of duties and accountability

• Building a strong compliance culture

   

Module 10: AML/CFT Roles and Responsibilities

• Compliance officers and AML teams
• Frontline staff responsibilities
• Internal communication and coordination

• Personal accountability and ethics

   

Module 11: AML/CFT Audits, Reviews, and Regulatory Examinations

• Internal and external audits
• Regulatory inspections and findings
• Common weaknesses identified by regulators
• Responding to audit issues and remediation

Module 12: Emerging Risks, Trends, and Best Practices

• New money laundering and terrorist financing trends
• Digital banking, fintech, and crypto risks
• Strengthening AML/CFT frameworks
• Lessons learned and practical takeaways