Anti-Money Laundering And Countering Financing of Terrorism (AML/CFT)

Bank Negara Malaysia (BNM) requested company/firm who decide to provide any of the Gazetted Activities (GA) to comply with the requirements stipulated under the Anti-Money Laundering, Countering Financing of Terrorism (AML/CFT) and Targeted Financial Sanctions (TFS) for Designated Non-Financial Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs) Policy Document.

The submission of Data and Compliance Report (DCR) is an enforceable reporting requirement under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and AML/CFT and TFS for DNFBPs and NBFIs Policy Document.

Since the compliance requirement is more stringent now, more actions like customers due diligence and suspicious transaction report (STR) are required. STR Form is required to be submitted  to the “BNM’s Financial Intelligence and Enforcement Department” by company/firm.

Hence, this training will provide a sound understanding and develop knowledge on the latest updates, guidelines, regulations and rules on money laundering, compliance and prosecution

How Will You Benefit:

• Know the processes and steps to prevent money laundering activitie;
• To understand with the various processes and methods of money laundering and terrorist financing;
• To understand regulatory framework and protocols to deter money laundering;
• To be able to apply the knowledge and skills in the audience’s workplace; and
• To be able to recognize and handle the issues relating to AML/CFT.

Methodology:

• Lecture, PowerPoint presentation, discussions, workshop, questions & answers session

Who Should Attend:

• Directors, Partners, CEO, COO, CFO
• Financial Controllers, HR Managers, Marketing Managers, Operation Managers
• Department/ division heads, supervisors, team leaders, executives
• CEO, LLP compliance officers and Partners
• Regional representatives and General Managers

Course Outline:

• Understanding Money Laundering and Terrorist Financing
• (i) a brief general overview of Money Laundering and Terrorism Financing
• (ii) what are the processes and steps to prevent money laundering activities
• Malaysian AML/CFT Regulatory Framework
• (i) a brief general overview of laws and regulations related to anti-money laundering and counter financing terrorism
• (ii) In relation to the AML/CFT provisions, this policy document is issued pursuant to:
• – sections 8, 13, 14, 14A, 15, 16, 17, 18, 19, 20 and 83 of the AMLA;
• – sections 47(1), 47(2)(h), 143, 261(1) and 266 of the FSA;
• – sections 57(1), 57(2)(h), 155, 272(1) and 277 of the IFSA;
• – sections 41(1), 41(2)(c), 116, 123A(1) and 126 of the DFIA; and
• – sections 34(1) and 74(1) of the MSBA.
• (iii) In relation to the targeted financial sanction provisions, this policy document is issued pursuant to:
• – sections 66B, 66E and 83 of the AMLA;
• – section 95 of the Central Bank of Malaysia Act 2009 (CBA);
• – sections 47(1), 47(2)(h), 143 and 261(1) of the FSA;
• – sections 57(1), 57(2)(h), 155 and 272(1) of the IFSA;
• – sections 41(1), 41(2)(c), 116 and 123A(1) of the DFIA; and
• – sections 34(1) and 74(1) of the MSBA.
• Customer Due Diligence (CDD), Risk Profiling and Detection
• (i) What is Customer Due Diligence (CDD)
• (ii) What is Know Your Customer (KYC)
• (iii) Customer Identification
• (iv) Customer Risk Profiling
• (v) Managing Risk Through Enhanced CDD (ECDD)
• Recognition, Handling and Reporting Transactions and Dealing with Authorities; and
• (i) Recognize Suspicious Transactions
• (ii) Classifications of Suspicious Transactions
• (iii) Suspicious Transactions Report
• (iv) Submission of Suspicious Transactions Report
• AML/CFT Typologies Across industry Sectors
• (i) different types of money laundering activities in the market
• (ii) various methods, techniques, schemes and instruments criminals use to conceal, launder or move illicit funds