Anti-Money Laundering Online Training

Anti-Money Laundering Online Training

Money laundering is the process of exchanging illicit money or assets for ‘clean’ money or assets to conceal their origins. Most jurisdictions have specific money laundering laws, many of which set out responsibilities for businesses to help prevent, identify and report financial crime.

As a business, you have a responsibility to assess the risk of your business being used to launder money, maintain processes to prevent financial crimes, check the identity of your customers, identify suspicious behaviors and transactions and report it to the relevant authorities.

You also have a responsibility to train your employees to ensure that they understand the regulations and can identify and report suspicious activity.

Our Anti-money Laundering online training gives your employees all the information they need to ensure they comply and uses real-world examples to demonstrate how to spot suspicious activity.

Who needs to take the Anti-Money Laundering online training?

This training is relevant to all employees in sectors affected by money laundering controls, particularly those handling transactions or finance.

This course contains the following modules:

Video: Overview of money laundering. Anti-money laundering controls.
Scenario: Identifying activities that might indicate money laundering.
Key Learning: Criminals may use deception or bribery to launder dirty money. They may also transfer the dirty money to a country with weak money laundering controls. Money launderers expect to lose money turning dirty money into clean money.
Scenario: Identifying other activities that might indicate money laundering.
Key Learning: Criminals have developed numerous clever strategies to launder money. But they are vulnerable to good anti-money laundering controls and to sharp-eyed individuals who understand how to recognize money laundering.
Assessment: Five-question quiz on the content presented in this topic.

Interactive Screen: How do terrorists raise funds? Movement of funds. How does terrorist financing differ from money laundering? Financial intelligence - it's up to you.
Interactive Screen: Red flags for terrorist financing. Tips and lists. High-risk areas. Suspicious activities.
Scenario: Identifying the suspicious lodgments in clients's account.
Key Learning: Importance of individual employee's key responsibilities - client due diligence and suspicious activity reporting.
Scenario: Identifying the key step when discovering multiple small deposits in client's account.
Key Learning: Importance of client due diligence (CDD) and suspicious activity reporting (SAR).
Assessment: Five-question quiz on the content presented in this topic.

Interactive Screen: Consequences of money laundering. AML sanctions. AML impact. Crime and terror.
Scenario: Identifying the consequences of an accusation of money laundering.
Key Learning: Money laundering, or failing to prevent it, always carries consequences, including a wide range of fines, years of legal proceedings, and the loss of business.
Scenario: Impact of money laundering on economic development.
Key Learning: Successful money laundering leads to more crime or even terrorism. It promotes corruption, undermines the rule of law wherever it occurs, and weakens financial and governmental institutions.
Assessment: Five-question quiz on the content presented in this topic.

Interactive Screen: Explanation of placement, layering, and integration. Placement is the best place to stop money laundering.
Scenario: Spotting red flags that may indicate money laundering.
Key Learning: Placement is the conversion of cash into something else of value. It’s important that you can recognize red flags that indicate the placement stage of the money laundering process.
Scenario: Identifying the strategies used to layer dirty money.
Key Learning: Layering is all about hiding the origin of the money once it is in the system
Scenario: Identifying integration methods.
Key Learning: Integration is the return of the assets back to the criminal after sufficient activity to disguise the illicit origin.
Assessment: Five-question quiz on the content presented in this topic.

Video: Anti-money laundering (AML) controls, laws, and regulations. G7 Financial Action Task Force. Screening and monitoring of all transactions, risk assessment, due diligence, monitoring, and mitigation. Do not tip off. Three lines of defense.
Scenario: Taking action when you suspect money laundering.
Key Learning: When you spot a suspicious behavior, DO NOT contact the client, as this will alert them.
Scenario: What should happen when money laundering is suspected?
Key Learning: When a red flag is raised, the company will avoid direct contact with the suspects. We will conduct our own investigation. The authorities will be brought in if necessary.
Assessment: Five-question quiz on the content presented in this topic.

Interactive Screen: Money laundering risk life cycle. Risk assessment on new clients. Build a client profile. Conduct due diligence. Monitoring and risk tolerance.
Interactive Screen: Identifying unusual or suspicious situations. Unwilling behavior. Unnecessary behavior. Unusual behavior Unexplained behavior.
Scenario: Spotting red flags during a risk assessment.
Key Learning: Verify the client’s identity and location, as the identity and location might indicate red flags.
Scenario: Spotting red flags during due diligence.
Key Learning: Determine the client’s ownership structure, identify the source of their wealth and funds, and screen for negative news.
Scenario: Taking action when red flags are identified during the monitoring phase.
Key Learning: During the monitoring phase, you audit past and current controls.
Assessment: Five-question quiz on the content presented in this topic.

Text & Image Screen: The success of our AML program depends on you! Raise red flags and record issues appropriately.
Interactive Screen: Anti-money Laundering Training controls and reports. Know your customer. CTRs. SARs. How long do we keep records?
Scenario: Taking the correct action when presented with a clear red flag transaction.
Key Learning: We have AML internal reporting requirements, and you must follow them at all times. Never tip off a client if you are suspicious.
Assessment: Five-question quiz on the content presented in this topic.

Summary screen that wraps up the module, and attestation screen where learners attest that they will always adhere to anti-money laundering policies.

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