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.
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.
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
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.
- Interactive Input & Presentation
- Case Studies
- Discussions, Q&A (Question and Answer)
Participants Will Get
- Seminar Pack containing the information presented
- Fun Learning Activities
- Certificate of Participation