Anti-Money Laundering (AML) Online Course: Become a Compliance Expert

Course Syllabus: Understanding Anti-Money Laundering (AML)

Module 1: Introduction to Money Laundering

• Definition and Concept of Money Laundering
• Historical Background and Evolution of Money Laundering
• Understanding the Impacts of Money Laundering on Society and the Economy
• Overview of International Efforts to Combat Money Laundering

Module 2: Legal and Regulatory Framework

• Introduction to AML Laws and Regulations
• Key AML Regulations and Directives (e.g., USA PATRIOT Act, EU AML Directives)
• Regulatory Bodies and Agencies Responsible for AML Oversight (e.g., FinCEN, FATF)
• Compliance Requirements for Financial Institutions and Other Regulated Entities

Module 3: Know Your Customer (KYC) and Customer Due Diligence (CDD)

• Importance of KYC and CDD in AML Compliance
• Principles of Customer Identification and Verification
• Conducting Customer Due Diligence: Assessing Customer Risk Profiles
• Enhanced Due Diligence (EDD) for High-Risk Customers and Business Relationships

Module 4: Transaction Monitoring and Suspicious Activity Reporting (SAR)

• Overview of Transaction Monitoring Systems (TMS)
• Identifying Suspicious Transactions and Activities
• Reporting Requirements for Suspicious Activity Reports (SARs)
• SAR Filing Process and Collaboration with Law Enforcement Agencies

Module 5: Anti-Money Laundering Controls and Procedures

• Implementing AML Controls and Procedures within Financial Institutions
• Designing and Maintaining AML Compliance Programs
• Conducting Risk Assessments and Internal Audits
• Training Employees on AML Policies, Procedures, and Red Flags

Module 6: Money Laundering Techniques and Typologies

• Understanding Money Laundering Methods and Techniques
• Common Money Laundering Typologies (e.g., Structuring, Smurfing, Trade-Based Laundering)
• Case Studies and Examples of Money Laundering Schemes
• Identifying Indicators of Potential Money Laundering Activities

Module 7: International Cooperation and Information Sharing

• Importance of International Cooperation in AML Efforts
• Role of International Organizations (e.g., FATF, Basel Committee) in Setting AML Standards
• Mutual Legal Assistance Treaties (MLATs) and Cross-Border Cooperation
• Information Sharing Mechanisms and Platforms for AML Intelligence

Module 8: Emerging Trends and Technologies in AML

• Impact of Technological Advancements on Money Laundering Risks
• Application of Data Analytics and Machine Learning in AML Compliance
• Virtual Currencies and Cryptocurrency Risks in AML
• Addressing Challenges and Risks Associated with Emerging Trends

Module 9: AML Compliance in Non-Financial Sectors

• Extending AML Compliance Beyond Financial Institutions
• AML Requirements for Designated Non-Financial Businesses and Professions (DNFBPs)
• AML Obligations in Real Estate, Gaming, Legal, and Professional Services Sectors
• Challenges and Best Practices for AML Compliance in Non-Financial Sectors