AML Requirements

Name: AML Requirements
Availability: InStock

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This course will familiarize the learner with the crime of money laundering relative to his/her position. This course will also provide a comprehensive overview of red flags and suspicious activity so that s/he may be able to recognize and report indicators.

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After completing this program, the learner will understand how to:

Recognize the red flags of money laundering.
Conduct Customer Due Diligence (CDD) practices and prevent money laundering at the organization.
Recognize the roles that agencies such as OFAC play with regard to creating effective AML guidelines for the organization.

Outcomes:

T1. Money Laundering: This topic will provide the learner with an introduction to the crime of money laundering, an act or attempt to disguise the source of money or assets derived from criminal activity, by providing the goals of money launderers and the steps of money laundering.
T2. Red Flags of Money Laundering: This topic will teach the learner about the warning signs that money laundering is occurring, such as avoiding reporting or recordkeeping or suspicious branch activities, so that the learner will be able to recognize red flags of money laundering.
T3. Customer Due Diligence (CDD): This topic will define customer due diligence procedures and will familiarize the learner with components of CDD and transaction monitoring programs.
T4. Information Sharing: This topic will help the learner understand what s/he is to do when the institution receives requests from other institutions, such as the federal law enforcement agency FinCEN, for financial information and will teach the learner about the requirements required of the institution if a match is discovered.
T5. Office of Foreign Assets Control (OFAC): This topic will discuss the purpose and use of the Office of Foreign Assets Control of the U.S. Department of the Treasury, and will explain compliance, restrictions, and certain types of transactions.
T6. OFAC Program: This topic will outline the development of an OFAC program for the institution, including internal controls that can be used to screen for suspicious activity or accounts. The topic will also address the reporting of suspicious activity.
T7. High Risk Persons and Entities: This topic will define high-risk persons and entities and will familiarize the learner with the various types of high-risk persons and entities that s/he may encounter at the institution, including non-resident aliens, politically exposed persons, non-bank financial institutions, and professional service providers.
T8. High Risk Products and Services: This topic will define high-risk products and services, including information on the use of physical cash in criminal activities and how to handle cash transactions, wire transfers, and more.
T9. High Risk Geographic Locations: This topic will teach the learner about the various domestic and international high-risk geographic locations that exist and includes detailed images that will help the learner recognize visually the different places in the United States where financial crimes and drug trafficking areas are located.

With 30+ years of experience, Banker's Academy is the leading global provider of training solutions to the financial community. We specialize in BSA/AML, Compliance Officer, HR Professional, Teller and Branch Manager Training.

We’re proud to have partnered with over 2,500 clients worldwide in various financial services industries, with a focus on banks, credit unions, and money service businesses. Let us help you reach your target audience with an innovative, results-driven educational experience.

Our Mission:

To excel as the premier provider of innovative training solutions to the financial industry, and remain the preferred partner of choice to our valued customers.

Our Values:

Honesty & Integrity. We believe in professionalism and honesty in all our working relationships. We hold ourselves accountable to the highest ethical and performance standards.
Passion & Excellence. We love what we do. Quality and excellence are at the core of our work, allowing us to provide exceptional products and services to our customers.
Leadership & Empowerment. We encourage leading by example, and empower our employees to make the right decisions, instilling a strong sense of confidence and corporate responsibility.
Collaboration & Respect. We prize a culture of participation and collaboration. We respect and encourage individual differences as they are part of our strength as a team.
Innovation & Adaptability. We foster a continuous learning culture that inspires creativity and innovation, allowing us to adapt and thrive in a growing global community.

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Port Washington Branch

1300 Virginia Dr #220, Port Washington

AML Requirements

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