Overview

 

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 locally, and internationally, to ensure organizations stay ahead in protecting their assets.

The course will introduce participants to different types of schemes, the methods available to prove income, what records are required, how to analyze them, and how to identify leads.

Why this course

 
  •  

    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.

What to expect

 
  • 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 Launderin

  • Analyze financial records and identify possible leads

  • Apply methods to prove income or funds from unknown sources

What is the course schedule?

 

Day 1 8.30 AM to 4.30 PM

 

  • 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

Day 2 8.30 AM to 4.30 PM

 

  • The role of the Financial Action Task Force (FATF)

  • European directives

  • U.S. Patriot Act

  • United Nations Resolutions

  • The Wolfsberg Principles

  • Foreign Account Tax Compliance Act (FATCA)

  • Anti-Money Laundering (AML) law and regulations in your country

Day 3 8.30 AM to 4.30 PM

 

  • 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

Day 4 8.30 AM to 4.30 PM

 

  • 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

  • Who should attend?
  • 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

  • Participants
  • The course will have a maximum of 14 people who will be selected based on the type of business they are in and their job role to ensure a thorough mix of industries, ideas and experience.

  • Training Style
  • 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.

    Contact our training division