Training Course on Financial Controls in Implementation of Anti-Money Laundering and Anti-Terrorism Financing

About the course

The determination of corrupt individuals, criminals and criminal organizations to use Financial Institutions (FIs) including Microfinance Banks (MFBs) to launder funds and finance terrorist activities poses threats to the financial system globally. This threat continues to be a source of concern to the Central Banks of different countries. Over the years, there have been extensive efforts by many agencies within the security and financial system in different countries to come up with appropriate measures to combat money laundering and terrorism financing. One of the core functions of Central Banks in many countries now is to promote the safety and soundness of their financial system and, by extension, formulate appropriate policies and procedures designed to mitigate Anti-Money Laundering/Combating Terrorism Financing risks (AML/CTF) to promote financial system stability. This training is aimed at professionals who are charged with responsibilities of combating anti-money laundering (AML), terrorism financing (CTF), and proliferation financing (CPF).

Target Participants

The course is ideal for banking professional and credit officer who plays a crucial role in maintaining compliance with regulatory requirements.  

What you will learn

By the end of the course the learner should be able to:

• Execute customer due diligence and know your customer (KYC) processes.
• Identify and report suspicious activities effectively.
• Recognize red flags indicating potential money laundering or terrorism financing.
• Understand the consequences of non-compliance.
• Foster a culture of AML, CTF, and CPF vigilance.
• Bolster reputation and credibility in the industry.
• Mitigate financial and reputational risks.
• Ensure adherence to regulatory obligations.
• Empower staff to actively participate in safeguarding the bank’s integrity.

Course duration

5 days

Course Outline

Basics of AML, CTF, and CPF

• Introduction to AML, CTF, and CPF regulations.
• Understanding the importance of AML, CTF, and CPF in banking.
• Consequences of non-compliance for individuals and the bank.
• Recognizing suspicious activities and their impact.

Customer Due Diligence (CDD) and KYC Procedures

• Implementing customer due diligence (CDD) and know your customer (KYC) processes.
• High risk customers, businesses, regions, and products
• Verifying customer identities and sources of funds.
• Updating customer information regularly.
• Detecting and reporting discrepancies.

Suspicious Activity Reporting

• Identifying red flags for potential money laundering and terrorism financing.
• Reporting suspicious activities to the designated authority.
• Legal protections for whistleblowers.
• Ensuring confidentiality and proper documentation.

AML, CTF, and CPF Compliance in Daily Operations

• Integrating compliance practices into daily tasks.
• Conducting periodic reviews of customer accounts.
• Ensuring compliance with transaction limits and restrictions.
• Collaboration with compliance teams and designated officers.

AML, CTF, and CPF Culture and Responsibility

• Building a culture of compliance within the organization.
• Recognizing the role of every staff member in compliance.
• Encouraging proactive reporting and communication.
• Consequences of non-compliance for employees and the bank.

Training Approach

This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this course, participants will be issued with a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide needs. Contact us to find out more [email protected]

Payment

The training fee covers tuition fees, learning materials, and training venue. Accommodation and airport transfer are arranged for our participants upon request.

Payment should be sent to our bank account before start of training and proof of payment sent to [email protected]

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