Anti-Money Laundering

Why Attend

This course provides a comprehensive and practical analysis of Money Laundering schemes, Anti-Money Laundering legislation, and counter-measure techniques and implementation. Participants will learn to understand the complexities associated with the prevention and the protection of their organizations. They will cover different types of schemes, the methods available to prove income, what records are required, how to analyze them, and how to identify leads.

Considering the most current cases of violation of Anti-Money Laundering regulations and the cost associated with it, not only in money but in reputation as well, this course will give participants guidance and understanding of regulations both in the Gulf, and internationally, to ensure organizations stay ahead in protecting their assets.

Course Methodology

This course is fully interactive and participation is encouraged to achieve maximum benefit. Participants are invited to present their own cases and scenarios, where questions can be answered and doubts can be resolved. There will also be team activities, case studies and practical examples for discussion.

Course Objectives

By the end of the course, participants will be able to:

Target Audience

This course is suitable for senior managers with responsibility for, or involvement in, the development or implementation of Anti-Money Laundering policies and procedures. It will also highly benefit financial officers, financial controllers, accountants, Money Laundering reporting officers, compliance officers, managers, auditors and staff with duties requiring Anti-Money Laundering compliance.

Target Competencies

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Location:

South Africa

Training Dates:

Each course starts every Monday of each week. Please book your training on a date that is a Monday.

Course Duration:

Unit Standard:

NQF Level:

Number of Credits:

Course Fees

Note: Please fill in the online application form on the left or bottom if this page to receive a quotation with detailed pricing from AATICD.

How to Apply:

To Apply Simply Fill in the Online Enquiries / Applications form on the Right Sidebar or Bottom of this website https://www.aaticd.co.za

NB: Terms and Conditions for Payment and Refunds

1.1. Full payment for the training workshop must be made at least 5 days before the scheduled workshop date.

1.2. Payment can be made via bank transfer, credit card, or any other agreed-upon method.

1.3. A confirmation of payment will be issued upon receipt of funds.

1.4. Any form of Payment means that trainee / delegate / client receiving the training accepts the training and agrees to these terms and conditions.

2. Cancellation and Refund Policy

2.1. Cancellations made 30 days or more before the workshop date will be eligible for a full refund, minus any administrative fees.

2.2. Cancellations made 15 to 29 days before the workshop date will be eligible for a 50% refund of the total payment.

2.3. Cancellations made less than 14 days before the workshop date will not be eligible for a refund.

2.4. Participants who fail to attend the workshop without prior notice will not be eligible for a refund.

3. Rescheduling

3.1. If a participant wishes to reschedule, a request must be submitted at least 14 days in advance, subject to availability.

3.2. A rescheduling fee may apply.

4. Workshop Cancellation by the Organizer

4.1. AATICD reserves the right to cancel or reschedule the workshop due to unforeseen circumstances, including but not limited to low enrolment, trainer unavailability, or force majeure events.

4.2. In the event of cancellation by AATICD, participants will be offered a full refund or the option to attend a rescheduled session.

4.3. AATICD is not responsible for any additional costs incurred by participants, such as travel or accommodation expenses.

5. Refund Processing

5.1. Approved refunds will be processed within 7 business days from the date of cancellation approval.

5.2. Refunds will be issued using the original payment method unless otherwise agreed.

6. Contact Information

For any questions regarding payments and refunds, please contact us at:

Email: apply@aaticd.co.za

Phone: +27 73 016 5042

By registering for the workshop, participants agree to abide by these terms and conditions.

In-House Trainings are also available for 3 or more delegates for any duration. Please consult with our Administration for such In-House training bookings.

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Course Outline

• Principles of Money Laundering
  • What Money Laundering is and its importance
  • Stages of the Money Laundering process
  • The Money Laundering cycle
  • Sources of ‘dirty money’
  • Know your customers
  • Hidden assets
  • Common vehicles used to hide assets
  • Asset hiding versus Money Laundering
• International development of law and regulation
  • The role of the Financial Action Task Force (FATF)
  • European directives
  • U.S. Patriot Act
  • United Nations Resolutions
  • The Wolfsberg Principles
  • The GCC as a member of FATF
  • Foreign Account Tax Compliance Act (FATCA)
  • Anti-Money Laundering (AML) law and regulations in the GCC
• Money Laundering schemes
  • Nominee scheme
  • Business front scheme
  • Banking scheme
  • Banking-business combination
  • Smurf and structured transactions
  • Shell companies
  • Loan-back schemes
  • Invoice scams
  • Buy-backs
  • Examples of money laundering schemes
  • Identifying indicators of illegal activities in bank records
    • How indicators are developed
    • How indicators can be used
    • Indicator examples
    • Abnormal activity in accounts
    • Tips and pitfalls
  • Methods of proving income
    • Analyzing financial records for leads
    • Using books and records in a financial case
    • Analyzing the balance sheet
    • Analyzing the income statement
    • Indirect methods: net worth and bank deposits
    • Direct methods of proof
    • The Capone organization