KP - Introduction to Anti-Money Laundering AML

Overview:

Money Laundering is an area that is gaining increasing attention. In the wake of increasing terrorism and organized crime, investigators focus on how such groups finance their activities and are aiming to cut off access to these funds. Banks and financial institutions are now being asked or forced to significantly increase their efforts to combat Money Laundering, which requires increased training of their staff to better understand, identify, and alert authorities when they see evidence of Money Laundering.  Moreover, regulations are slowly coming into effect in most countries, sometimes with extra territorial jurisdictions which increases the risks of liabilities on organizations both from a financial and a reputation stand point. With the typically large number of staff working for banks, E-Learning provides the banking industry with a tool to help them not only train their large numbers of employees better, quicker, and more efficiently, but also allows them to do this more cost effectively.

Knowledge Platform has an effective online training program that could help organizations impart basic training on anti-money laundering and create awareness at various levels in the organization. The courses are designed to be very interactive and appealing. Apart from these generic courses, Knowledge Platform can also work with your organization in creating and managing anti-Money Laundering Awareness Drive and also customize the course for specific requirements.

Target Audience:

The family of courses is targeted at all employees and contractors in a financial institution. The introductory course is aimed to create basic awareness at all employees. The front office and back office versions are targeted at the customer facing and back office employees respectively. The AML for managers course is targeted at those managers who need an in depth review.

Objectives:

The anti-money laundering course aims to

o  Describe Money Laundering and the challenges and risks involved in combating it

o  Recognize the key stages in money laundering and the principal techniques used by money launderers

o  Gain insight in how to establish and use customer profiles

o  Identify and report on suspicious activities

o  Articulate the objectives and principal elements of a Know Your Customer policy

o  Describe the key processes and technologies to fight money laundering

o  Comprehend local AML regulations and key reporting requirements

Course Catalog:

• Introduction to AML
• AML for Front Office
• AML for Back Office
• AML for Managers
• AML Assessments

Subjects covered:

"         Introduction to Money Laundering

"         Stages of Money Laundering

"         Placement Techniques

"         Layering Techniques

"         Integration Techniques

"         Know Your Customer Basics

"         Customer Profiling

"         Recognizing Suspicious Activities

"         AML Technologies

"         Local Regulations (Country Specific)