Anti-Money Laundering and Transparency Monitoring

Tafkeer Professional Development offers Anti-Money Laundering and Transparency Monitoring Training in Dubai and this training on Anti Money Laundering covers topics on Overview of money laundering and Transparency Monitoring, Definitions, techniques and legislative framework and Procedures for mitigating risk presented by money laundering .

Course Description

Would you know how to detect a suspicious transaction in your workplace? Are you aware of the financial and reputational risk that money laundering can pose to your organization?

This course is designed to give you a broad overview of money laundering and Transparency Monitoring. It covers general definitions, common techniques and the broad legislative framework for detecting and reporting illegal activity. It also covers globally recognized procedures for mitigating the risk presented by money laundering and terrorism financing.

Topics covered

This course covers the following topics:

  • Introduction to anti-money laundering
  • The Money Laundering Cycle and Common money laundering techniques, and how to avoid them
  • Suspicious matter Reporting
  • Transparency and Accountability

Learning Objectives

On completing this course, learners should be able to:

  • Define money laundering and avoidance
  • Recognize the key stages in money laundering and common techniques used by money launderers
  • Identify the objectives and principal elements of a ‘know your customer’ policy
  • Recognize some common indicators of money laundering
  • Delegates will be aware of AML/CFT (Anti Money Laundering /Countering of Terrorist Financing) subject and its implications
  • They will be able to understand the importance of Regulatory Expectations, how to work towards avoiding ML/TF abuse as an Industry professional
  • Identifying various Risk’s associated from a perspective of ML/TF abuse you will be more alert to fight against the ML/TF abuse, while making a significant contribution to the financial Institution you work with

Course Outline

Understanding Money Laundering and how to avoid it

Introduction to financial crimes Typology

  • Definition: What are AML and CTF: and how do they work?
  • Stages of Money Laundering
  • History of Money Laundering
  • Why are Countries & Governments Concerned? Risk’s for banks/FI’s and you.
  • Process of money laundering
  • Specific Trends/typologies of Money Laundering
  • The expansion of Money Laundering from drugs to corruption to terrorism
  • Few indicators of money laundering
  • Money Laundering: Prevention, Detection, & Investigation

Compliance with Anti-Money Laundering Legislation

  • International Legislation and legislation applicable to the country where the course is being delivered
  • Sources of illegitimate funds
  • Trends in East Africa, ML problem in Africa
  • Financial Red Flags
  • Procurement Red Flags
  • Methods of Money Laundering

Effective Techniques for Interviewing Money Laundering Suspects

  • Money Laundering & Terrorist Financing
  • What is the purpose of the interview?
  • Interrogation versus an Interview,
  • Characteristics of an Effective Interview,
  • What to Consider, Who should be Interviewed
  • What to do if a suspect refuses to talk to make him or her talk professionally.

Recognizing and Reporting Suspicious Transactions

  • Detection Techniques
  • Investigating Money Laundering

Money Laundering Detection Techniques

  • Combating Money laundering-Regulatory framework
  • Methods and techniques observed in cases involving suspected terrorist financing and money laundering
  • Internal Controls, Procedures and Policies Cooperation with the Authorities and the Regulators
  • Know Your Customer (KYC) and Identification and Verification (ID&V) Rules
  • Prevention, Detection and Due Diligence
  • Early-Warning Mechanisms
  • Characteristics of individuals suspected of terrorist financing activities

Transparency Monitoring

  • Overview of Transparency and Accountability
  • Concept of Governance
  • Elements of Transparency
  • Due Process and Procedures for Effective Service Delivery
  • Institutional Framework for Enforcing
  • Transparency and Accountability
  • Public Ethics, Corruption and National
  • Development
  • Leadership, Accountability and Transparency
  • Management Strategies for Transparency and Accountability
  • Appraisal of Anti-corruption Policies and Strategies
  • Transparency and Accountability

Who is the target audience?

This course is suitable for anyone who works within the regulated financial sectors, governments, finance ministries, financial regulatory authorities, including all businesses where large amounts of illegally obtained cash, property or goods could be bought, sold or exchanged.

This course is for professionals in Financial Industry including Banking, Payments, Transaction Banking, Foreign Exchange, Anti-Corruption, Wealth Management industry and Tax regulatory authorities.

Participants will get

  • Seminar Pack containing the information presented on the day
  • Fun Learning Activities
  • Certificate of Participation

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