Introduction to AML & KYC Training Course
In today’s dynamic financial landscape, combating financial crimes and ensuring compliance with regulatory requirements have become paramount. Our AML (Anti-Money Laundering) and KYC (Know Your Customer) training course is designed to equip professionals with the knowledge and tools needed to identify, prevent, and report money laundering activities and ensure customer due diligence.
This course covers essential topics such as understanding global AML regulations, implementing effective KYC processes, detecting suspicious transactions, and leveraging technology for compliance. Whether you are a banking professional, compliance officer, or financial analyst, this course provides a practical and comprehensive approach to staying ahead in the fight against financial crimes.
Empower yourself with the skills to protect businesses, maintain trust, and contribute to a secure financial ecosystem. Join us and elevate your expertise in AML and KYC practices.
AML/KYC Course Curriculum
Introduction to AML and KYC
- What is AML and KYC?
- Importance of AML/KYC in financial institutions
- Overview of global regulatory frameworks (e.g., FATF, FinCEN, EU Directives)
Regulatory Frameworks and Guidelines
- FATF (Financial Action Task Force) recommendations
- USA Patriot Act, Bank Secrecy Act (BSA)
- EU AML Directives and GDPR compliance in KYC
- Regional regulations (e.g., OFAC, FCA, APAC-specific laws)
Money Laundering and Terrorist Financing
- Definition and stages of money laundering (Placement, Layering, Integration)
- Methods used in terrorist financing
- Case studies on high-profile money laundering schemes
KYC Process and Customer Due Diligence (CDD)
- Types of customers: Retail, corporate, high-risk individuals/entities
- Components of KYC (ID verification, beneficial ownership, risk profiling)
- Enhanced Due Diligence (EDD) for high-risk customers
- Ongoing monitoring and periodic reviews
Risk Assessment and Management
- Identifying and assessing AML risks
- Risk-based approach (RBA) in AML compliance
- Mitigation strategies for AML/KYC risks
Reporting and Monitoring Obligations
- Suspicious Activity Reporting (SAR) and thresholds
- Currency Transaction Reporting (CTR)
- Role of technology in transaction monitoring (AI, machine learning, and analytics)
AML/KYC in Practice
- Screening tools: PEP (Politically Exposed Persons) and sanctions screening
- Case studies: Identifying red flags in customer behaviour and transactions
- Challenges in implementing AML/KYC processes
Penalties and Consequences of Non-Compliance
- Legal, financial, and reputational impact of AML/KYC violations
- High-profile cases of non-compliance and lessons learned
AML/KYC Best Practices
- Developing an AML/KYC compliance culture
- Training employees and stakeholders
- Continuous improvement through audits and feedback
Exam/Case Study Analysis
- Practical case studies for group discussion
- Mock exams or scenario-based assessments