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 organisation?
This course is designed to give you a broad overview of money laundering and terrorism financing. It covers general definitions, common techniques and the broad legislative framework for detecting and reporting illegal activity. It also covers globally recognised 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.
By implementing this course your organisation can:
- raise worker and organisational awareness about money laundering and terrorism financing
- increase awareness of the importance of an internal Know Your Customer policy
- mitigate financial risk in the event of encountering money laundering
- protect organisational brand and reputation.
This course covers the following topics:
- Introduction to money laundering
- The money laundering cycle
- Common money laundering techniques
- Your obligations
- Suspicious matter reporting
- Introduction to terrorism financing.
On completing this course, learners should be able to:
- define money laundering
- recognise the key stages in money laundering and common techniques used by money launderers
- define terrorism and terrorism financing
- identify the objectives and principal elements of a ‘know your customer’ policy
- outline key elements of reporting under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)
- recognise some common indicators of money laundering and terrorism financing.
The content in this course is targeted at:
- organisations operating under the AML/CTF Act
- public- or private-sector organisations
- workers at all levels, from frontline employees to board level.
This course should take about 30 minutes to complete.