Anti Money Laundering Training for Real Estate Sector

Anti-Money Laundering Training for Real Estate Sector in Dubai is designed to give you the tools and knowledge you need to help prevent illicit funds from entering our real estate markets. By staying current and informed on anti-money laundering requirements and best practices, you can ensure that customers are well-protected, and that the public can have confidence in real estate industry. It also covers globally recognized procedures for mitigating the risk presented by money laundering and terrorism financing.

Course Overview

This Course is intended to provide real estate professionals with the tools and knowledge they need to prevent illicit funds from entering the real estate market.

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.

It provides general information only and should be accompanied by industry-specific training.

Learning Objectives

On completing this course, learners should be able to:

Define money laundering
Recognize the key stages in money laundering and common techniques used by money launderers
Identify the objectives & principal elements of a ‘KYC’ policy
Recognize some common indicators of money laundering
Prepare and implement Anti Money Policy for Real Estate Sector in Dubai
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
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
Understand the concept of money laundering and the salient features of the Anti-Money Laundering Regulations
Understand the concept of customer due diligence (CDD), its requirements and application and the different levels of CDD and the specific processes/issues related to them
Learn how to protect your company from the risk of money laundering, terrorism financing
Understand the implications and penalties for non-compliance with AML/CFT legislation and regulatory requirements

Topics Covered

The Anti-Money Laundering in Real Estate Course is divided into following topics:

Introduction to Money Laundering Basics
Background on the Anti-Money Laundering Regime
Real Estate and Money Laundering
Overview of Compliance Obligations
Suspicious Transactions
Emerging Issues

COURSE OUTLINE/ AGENDA

Understanding Money Laundering

Introduction to financial crimes Typology
Process of money laundering
Explanation of key terms, concepts and regulators
Significance of AML regulations for the real estate sector
Requirements for UAE real estate companies and brokers
Prosecution of Money Laundering Crime in UAE
Stages of Money Laundering
Why are Countries & Governments Concerned? Risk’s for banks/FI’s and you.
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

Risk Assessment and Mitigation

Identifying high-risk transactions and clients
Conducting a risk assessment for AML
Implementing customer due diligence procedures
Reporting suspicious activities
Keeping records

Effective Techniques for Interviewing Money Laundering Suspects

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

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

Who Must Attend

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.

All job levels specialized in anti-money laundering and combating the financing of terrorism (AML/CFT);
All job levels specialized in regulatory compliance, and
Real estate agents
Real Estate Sales Staff
All job levels specialized in risk management.
Anyone interested in the subject.