Anti Money Laundering (AML) Compliance Team Certification Training Course (Level II)

Money laundering is a clear and present danger that globally continues to pose a significant threat to governments, financial institutions, and businesses alike. As a result, financial institutions, banks, and corporations across the globe are required to set in place a BSA/AML Compliance Program.

An Anti-Money Laundering Compliance Program for any corporation or financial institution states all the efforts and steps taken by them in order to keep in line with regulatory AML policies in their legislative and legal environment (state, national, and international AML laws). An AML Compliance Program is aimed at keeping in check illicit financial activities, such as: fraud, money laundering, and terrorist financing.

The governance and success of this program rests responsible upon the Compliance team. In the Anti Money Laundering world of compliance, these personnel are referred to as the second line of defence, the “behind-the-scenes-operators”, these folks develop policies and procedures, devise templates, reports, tuning mechanism, customer questionnaires and requirements, alongside the technologies necessary to streamline KYC and AML processes.

Course Objectives:

After completing this course, the Compliance team and compliance representatives from each department will learn all facets of running a good AML Compliance Program that includes:

• Designing and running Internal operations and regulations governance
• Customer vetting, onboarding and processing policies
• Account Operations monitoring, general reviews and reconciliations
• Transaction monitoring, case detection, reporting protocol, SAR/STR/CTR filing
• Developing robust AML Compliance Standards
• Analysing legal obligations and potential risks
• Working knowledge of acquiring and adopting adequate technology
• Developing an industry/organization-specific training material
• Overview of Legal advisory for consulting and defence
• Understanding the independent audit process and the importance of conducting routine checks is an effective way, to understand the shortcomings of their risk assessment and compliance program