Anti-money Laundering And Counter Financing Of Terrorism

Anti-money laundering (AML) is the process of detecting and preventing the criminal proceeds of crime (e.g., drug trafficking, corruption, tax evasion) from being legitimized and re-integrated into the financial system.

Counter financing of terrorism (CFT) is the process of preventing and detecting the financing of terrorism and terrorist-related activities.

AML/CFT is essential to protect the integrity of the financial system and to prevent crime and terrorism. It is also a key component of national security and financial stability.

This half day “Anti-money Laundering And Counter Financing Of Terrorism” course enable the participants to understand the basics of Anti-Money Laundering and Counter-Financing of Terrorism.

Learning Objectives:

• Explain what is Money Laundering and Terrorism Financing.
• Describe the offences and its penalties.
• Outline Know Your Customer policy.
• Cite examples of Money Laundering activities and how to report them.

Outline:

• Module 1:
• What is Money-Laundering
• What is Terrorism and Proliferation Financing
• 9.50am to 10.30am
• Module 2:
• Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2021
• Penalties one may face
• 10.30am to 10.45am
• Morning Break
• 10.45am to 11.45am
• Module 3:
• Customer Due Diligence (CDD)
• Enhanced Due Diligence (EDD) for Default High Risk, Beneficial Owner, PEP and Sanctions
• 11.45am to 1.00pm
• Module 4:
• Ongoing Due Diligence (ODD), Mule and IFS
• Red Flags & Reporting Requirements
• Questions and Answers