Anti-Money Laundering

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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:

  • Detect and prevent Money Laundering
  • Define Money Laundering and its cycle
  • Identify how Money Laundering can be committed
  • Apply the GCC and international law and regulations on Anti-Money Laundering
  • Analyze financial records and identify possible leads
  • Apply methods to prove income or funds from unknown sources

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

  • Understanding the Anti-Money Laundering Cycle
  • Identifying Money Laundering Methods
  • Anti-Money Laundering Laws and Regulations
  • Fraud Detection and Prevention
  • Analyzing Financial Records
  • Proving Income and Funds

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:

When filling the online application form; please take note of your desired Training Month, Duration in Weeks and Training Session. This will give us the exact dates you will be attending your classes.

Also note that Tuition Fees must be paid upfront on or before training start date. This is to ensure that all resources are made availabe for you before you start. You will not be allowed into training if fees are not paid and verified.

Also note that Tuition Fees Cancellations must be made 14 business working days before the starting date of training. This will allow us to do a 50% refund of the total amount paid. If cancellations are made thereafter note that no refund will be made to delegates.

Tuition Fees include teas and lunch as well as either a laptop or tablet which a delegate will take home free of charge.

Tuition Fee DOES NOT include Accommodation, Dinners and other Extra Curricular Activities or Incidentals. Delegates are expected to fund this on their own. AATICD will not be held accountable for any incidents to delegates.

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.

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