Description
[March 2023 Update]Modules subtitled in six (6) languages - Dutch, French, Japanese, Portuguese, Simplified Chinese, TurkishAdded module on State capture and money laundering. Updated general content and added Money Laundering and Terrorism Financing modules, more details on the three + 1 topics (KYC, CDD, EDD & AML Risk, including quizzes, case studies and assignments. Bonus Resources include- Wolfsberg AML Principle on Political Exposed Persons (PEPs)This course is a five-series topic covering the fundamentals or concepts of AML/CFT compliance. The course aims to enable students not just to be able to describe money laundering and terrorist financing; but also to understand predicate offenses, customer due diligence, and risk. The knowledge to be gained will build students' job-related confidence. This course will cover definitions, concepts, and processes that you will need to plan your policies, among other things. These will extensively address the following. Introduce you to money laundering (ML) and terrorism financing (TF). It will also explain how these two illegal activities are related. Taught in a thorough but straightforward explanatory style which will coverThe art of disguising laundered money, a brief history of Money Laundering and lesson on state capture, tax havens. How ML/TF are committed; learn about predicate crimesLearn about an uncommon type of terrorism - Eco-terrorism in terms of its nature, history, philosophical justifications of its perpetrators, and some of the tactics used by eco-terrorists. What is Know-Your-Customer (KYC)? Why KYC is necessary, why financial institutions like banks, insurance companies and others are easy Money Laundering targets. Financial and non-institutions must go beyond just identifying their customers to familiarize themselves with the right processes and learn about the KYC guidelines. Under Customer-Due-Diligence (CDD), we will define CDD and differentiate between KYC and CDD. We will also explain why CDD is Important and what best standards are available. We will examine the essentials of a proper KYC/CDD strategy and why we need a good plan. Under Enhanced-Due-Diligence (EDD) - what is it all about and when is it applied, how do you de-escalate enhanced risk etc. BONUS resource - Wolfsberg AML Principle on PEPs - Definitions, identify high-risk associates, family members etc And lastly, we will discuss Anti Money Laundering (AML) risks in detail -This will be addressed by Region, Financial Institution Products, and types of Customers and their transactions.
