This training course teaches you how to implement systems to combat money laundering and terrorist financing.
All financial institutions are legally obliged to implement systems to combat money laundering and terrorist financing. At the same time, Auditors must ensure that the spirit and letter of the law is being strictly implemented.In this high Impact program, we pick in-depth review on Essential and Practical Guide to this New Challenges.
Course Agenda Highlights
The Fundamentals of Money Laundering Anti money laundering (AML) and counter financing of terrorism (CFT) Global compliance issues Recommendations 2012 Definition and objectives of KYC KYC standards and regulatory requirements Application of KYC Procedure for customer identification Specific identification issues Adopting a risk based approach Constructing the AML and KYC framework Implementing and managing the total KYC Real life case-studies of KYC management KYC failures and success Basics of Clearing & Settlement Systems FATF and Fraud case studies Mimicking Legitimate Transactions- Intl offshore centre’s Standard Import/Export Techniques in Trade Finance The International Legislations and Best Practices Corporate Misuse and Breaches of trust in detail Assessing the State of Legislation and Best Practices in a Cost Effective Manner The law in major international offshore centers-core issues of concern Case studies (continued)-Corporate Misuse and offshore centre’s Applying the rules and regulations as to: Asset protection trusts Enforcement, Freezing, Forfeiture and the Teeth of Anti-Fraud programmes Red flags or warning signs of money laundering Issues of international banking (documentary credits) law Case Study: Electronic payment system issues in money laundering- latest techniques and concerns