Anti-Money Laundering Training

Course Description

Tafkeer Professional Development is pleased to announce Anti-Money Laundering Training in Dubai UAE where you would 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. 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.

Anti-Money Laundering (AML) training in Dubai is designed to help individuals and organizations understand the risks and consequences associated with money laundering and terrorist financing activities. The training helps participants develop the necessary knowledge and skills to prevent, detect, and report money laundering activities.

In Dubai, AML training is mandatory for financial institutions, designated non-financial businesses and professions (DNFBPs), and other entities regulated by the Central Bank of the UAE. The training is usually provided by specialized training providers or consulting firms, and covers topics such as the international and local AML regulatory framework, customer due diligence (CDD) procedures, and suspicious transaction reporting.

Participants in AML training in Dubai typically include bank employees, financial advisors, accountants, lawyers, and other professionals working in the financial services industry. The training is also relevant for individuals who handle large amounts of cash, precious metals, and gems, and those who work in real estate, law firms, and casinos.

In conclusion, AML training is an essential component of an effective anti-money laundering program and helps participants understand their responsibilities in detecting and preventing money laundering and terrorist financing activities.

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

Materials Provided

  1. Course Material File and Hand Outs
  2. Exercise Sheets and Activities

Learning Objectives

Upon completion of this program, the trainee will be better able to:

  • Know overview of money laundering
  • 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

Topics Covered

This course covers the following topics:

  • Introduction to anti-money laundering
  • The money laundering cycle and Common money laundering techniques
  • Your Obligations to anti-money Laundering
  • Suspicious matter Reporting
  • Introduction to Terrorism Financing

Welcome Note

  • Introduction of trainers & training team
  • Participant introductions
  • Pre-evaluation

Course Outline

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
  • Recognizing and Reporting Suspicious Transactions
  • Detection Techniques
  • Investigating 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

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

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

Read our blogs on Anti Money Laundering and Corporate Crimes.