Description
Course Overview:
Money laundering and Terrorism Financing are very serious crimes and criminals have been relentlessly in search of ways to disguise the nature of their money and incorporate such money into the normal flow of legitimate economies to enjoy the benefits of their crimes.
It is therefore of utmost importance for financial professionals to be aware of, and alert to, ML & FT activities and be able to identify, analyse and report suspicious transactions as part of the effort to deter such criminal activities.
Also, financial institutions are under huge obligations to have a concerted effort to ensure compliance with sanctions imposed by various global powers to deter wrong doing by countries, institutions and individuals.
Course Objectives:
- Be introduced to the key characteristics of Anti-Money Laundering, Countering the Financing of Terrorism and Sanctions adherence.
- Extend their understanding of the principles of compliance risk.
- Gain an insight into current trends and issues in financial crime, using practical examples, and the risks of non-compliance.
- Be more informed and therefore be better equipped to understand their role and responsibilities, to make considered risk decisions more quickly, based on a sound knowledge of financial crime risk management
- Be better placed to protect their institutions from financial crime risks, thereby helping them to achieve sustainable growth
- Have key skills to protect their institutions from individuals and organisations seeking to commit financial crime through the recognition / identification of red flags and understanding how to respond appropriately
- Understand the nature of sanctions, major global sources of sanctions, how to detect, monitor and investigation possible sanctioned entities and transactions.
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