These training course materials refer to Anti-Money Laundering. They can be delivered as a stand-alone training programme, or be easily adapted to include as part of an induction or as refresher training. They can also be edited to include your own practices and procedures should you need to.
The materials will help ensure participants understand what money laundering is, how to spot it and what to do when they suspect that it is happening.
Training course contents:
Anti-Money Laundering regulations mean that all organisations need to put in place certain controls and practices to ensure their business is not used for money laundering. Aside from this, it is a requirement that all employees know how to spot and avoid situations where money laundering could occur. These Anti-Money Laundering training course materials, focus on the importance of complying with anti-money laundering regulations, but more than that, they consider what employees must do to help ensure their organisation does not fall foul of the law.
With these training course materials, participants will learn how to recognise and effectively deal with attempts at money laundering when it occurs. The content aims to help learners understand the minimum checks, controls and procedures that organisations are expected to have in place and how they can help ensure compliance with relevant regulations.
Samples of training course materials
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The main content of the training course materials…
The training course starts by introducing the topic of Anti-Money Laundering and then progresses into the content.
What is Anti-Money Laundering? – Developing an understanding of money laundering, how it works and the benefits to criminals.
Money Laundering Methods – Exploring the different methods that criminals use to launder money and the techniques they use to ‘clean’ the proceeds of crime.
How it Works – An in-depth view of the practice of money laundering with an activity to test knowledge. Including the three phases of, placement, layering and integration, which are also referred to as hiding, moving and investing.
The Law and Money Laundering – Discussing the main anti-money laundering and terrorist financing laws that apply in the UK and understanding what is and isn’t a crime. This section also looks at the role that the National Crime Agency has in combatting money laundering and terrorist financing. Please note: the these course materials reference UK law. However, they can be easily adapted to represent international laws.
Checks, Controls and Procedures – Taking a look at the elements that organisations must consider and carry out to make sure they comply with regulatory requirements. Also includes money laundering guidance notes to ensure compliance.
Risk-Based Approach – Helping ensure participants understand the need to carry out a written risk assessment to identify and assess the risk of money laundering and terrorist financing that they face in their organisation.
Nominated Officers – Understanding the role and its part in reporting suspicious activity.
Penalties – Establishing the penalties for not complying with Anti-Money Laundering laws.
Customer Due Diligence – How to implement a customer identification and verification programme that varies depending on the assessed level of risk. Understanding when due diligence is necessary and ensuring you know your customer. Using case studies to establish the risks and processes.
Enhanced and Simplified Due Diligence – Exploring the factors behind the more in-depth or reduced levels of due diligence and how it varies according to the customer and their needs.
Identifying Suspicious Activity – Using several case studies to explore different scenarios and the recommended actions to take based on concerns.
Reporting Suspicous Behaviour – A final in-depth case study that investigates a scenario where money laundering is suspected. This pulls all of the learning together and establishes what to do. Included within this is a further view of the nominated officer and their role and responsibilities, what whistleblowing means and the actions that should and should not be taken.
Conclusion – A chance to review learning and add any key actions to the learner plans.
By the end of this Anti-Money Laundering training course your participants will be able to:
- Explain what constitutes money laundering and the risks to the business
- Ensure compliance with Anti-Money Laundering (AML) regulations
- Identify how money laundering works, what to look for and how to report when you have suspicions it has occurred
- Define the minimum checks, controls and procedures that organisations are expected to have in place
- Help your company avoid potentially costly litigation and fines