MVL | Course Details

Anti-money Laundering and Combating Financing of Terrorism

Register Here

Anti-money Laundering and Combating Financing of Terrorism

Objective:

  • To equip institution with highly competent human resource as required by current dynamic AML/CFT regime
  • To develop human resource pool in the country on AML/CFT
  • To produce internationally competent human resource on AML/CFT

Background:

Money laundering (ML) and financing of terrorism (FT) have been one of the major risks facing many countries. Financial institutions across the world are tasked to help mitigate these risks as many criminals tend to misuse them to achieve their objectives of laundering money or funding terrorism. The Financial Action Task Force (FATF) requires its member countries to implement its recommendations and it is very essential for the member countries to ensure compliance with the recommendations. Financial industry regulators have laid down regulations to be complied with by the banks. Failure to comply with the FATF recommendations have various ramifications.Hence, it becomes essential for the banking professionals to have a sound knowledge of AML-CFT and related regulations and putting the risk mitigation measures in practice.

Hence, considering the situation, the course presented has been designed to help industries to develop such knowledge, skill and techniques that can lead them to tackle this regime systematically, effectively and efficiently, from policy level to operations.


Salient Features of the Program

  • Based on revised international Standards
  • Based on local context and current international practices
  • Targeted to implement risked based AML/CFT measures almost within current resources and without any hampers to customers.

Learning Outcomes:

  • A better understanding of the AML/CFT
  • How resources and staffs can work on AML/CFT
  • Understanding how AML/CFT help expanding business
  • Individual and institutional roles in AML/CFT
  • Understanding linkage between FI’s and AML/CFT measures and their inseparability
  • Be familiar with instruments that help assessing risk and focusing on the high-risk areas
  • Understanding the easy modality and benefits of applying AML/CFT (including KYC/CDD) with the institutions
  • Understanding the way of dealing with customers in relation to AML/CFT
  • Understanding the matters of training to junior staffs to face with the customers
  • Understand the measures applicable to face problems regarding AML/CFT in the course of day to day business.
  • Recognize the matters and mechanisms of reporting to high level officials
  • Understanding the supervisory modality and measures to compliance
  • Understanding sanctions and their vicious impacts on individual, institution and the national for non-compliance
  • Understanding how AML/CFT policies and procedures are developed for the institution
  • Understand the concept, values and benefits of AML/CFT measures together with local context and their benefits to individual institution.

Outline of the Course

Module 1 - Introductory

  • AML/CFT: Overview of International Standards and Regime

Module 2 - Preventive Measures

  • CDD System
  • Norms, Values and Objectives
  • Standard/Enhanced/Simplified
  • PEP, High Risks
  • Beneficial Ownerships
  • NPOs
  • Third Party KYC
  • Money Value Services
  • New Technologies
  • Risks and methods of money laundering
    • Using banking systems
    • Using non-banking financial institutions
    • Using new payment methods
    • Using non-financial businesses and professions
    • Using charities or non-profit organisations
    • Using on-line gaming and sports
  • Targeted Financial Sanctions

Module 3 - Monitoring, Detecting and Reporting

  • Monitoring Mechanism (Regular/Special/Enhanced)
  • STR Detection Mechanisms
  • STR filing
  • Reading between lines
  • Internal Examination
  • Tipping off and confidentiality

Module 4 - Regulatory Supervision and Investigation

  • Regulation, Supervisions and Sanctions
  • Compliance standards/regulation for anti-money laundering (AML) and combating financing of terrorism (CFT)
    • Financial Action Task Force (FATF) recommendations
    • Basel Committee on Banking Supervision (BCBS)
    • European Union 4th Directive and rules
    • US Patriot Act, OFAC requirements and OFAC sanction programs
    • Wolfsberg group
    • Regional standards
    • Consequences of non-compliances
  • Investigation and Expectation from Law Enforcement Authorities

Module 5 - Risk Based Approach and Internal Controls

  • Risk Based Approach
  • Risk Assessment Methodologies
  • Risk Managements and Internal Controls Mechanisms
  • Exercise

Module 6 - Systematic Delivery: Policy and SOP

  • Exercise on the Development of Risk Based AML/CFT Policy and SOP
  • Economic and Effective Resource Management and Implementation
  • Record Keepings
  • IT Systems
  • Usage of software for AML/CFT
    • Rules Engine
    • Statistical and profiling engine
    • Neural networks
    • Peer group analysis
    • Link analysis
    • Time sequence matching
    • Name recognition/list filtering
    • SWIFT sanctions
    • Case Studies
  • Evaluation (Test)

Training Methodology: Course methodology includes combination of classroom sessions, case studies, interaction session and work-related application will be used.


Target Audience: Cash Tellers, Chief Tellers/ Cashiers, Branch Managers, Compliance Officers, Brokers, Remittance/ Fund Transfer Officials, Banking Officers, Customer Service Officials, Account Opening Officials and Auditors. Duration/ Date: 3 Days for each batch of training

Delivery mode
Classroom and Live Virtual Classroom (LVC) Mode
Duration
3 full days
Course level
Intermediate level
Course Price
-

Contact US

MVL Consulting Private Limited

Address : #17, Laxman Villa Condominium, Paud Road, Pune, Maharashtra 411038 India 

Phone : +91 - 20 - 2546 6154

Mobile: +91 - 7030735350 / 9764835350

Email-id : info@mvlco.com

CIN No. : U31909MH1996PTC100429

 

Contact for Inhouse Programs

Head- Learning and Development

Name : Ms. Sangeeta Dokey

Phone : +91-9168 435 350

Email-id : info@mvlco.com

 

Enquiry