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Money Laundering Prevention - Up to 10 delegates


Skillcast

Summary

Price
£420 inc VAT
Study method
Online
Duration
Self-paced
Qualification
No formal qualification

Overview

Money laundering and terrorist financing are very serious financial crimes. The criminals behind these crimes are using evermore sophisticated methods to move money around and no company is immune.

This course covers the legal obligations of companies to prevent and report money laundering and terrorist financing. Your employees will find out about the systems and procedures that you have in place to prevent financial crime, and what their role is in complying with them.

Description

Learning Objectives

  • Define money laundering and terrorist financing
  • Recognise your legal obligation to prevent money laundering and terrorist financing
  • Explain our Company's policies and procedures for preventing money laundering and terrorist financing
  • Conduct proportionate risk-based Customer Due Diligence
  • Recognise common red flags and take appropriate action
  • Recognise when and how to seek advice and report suspicions of money laundering or terrorist financing
  • Fulfil your obligation not to tip off anyone suspected of money laundering or terrorist financing

Course Contents

  1. What is money laundering?
  2. You make the call: Is it money laundering?
  3. What is terrorist financing?
  4. How does it work?
  5. You make the call: Money laundering or terrorist financing?
  6. AML/CTF laws and penalties
  7. UK AML/CTF laws
  8. Offences and penalties
  9. Prosecutions
  10. What do you think: Is it an offence?
  11. Our AML/CTF Policy
  12. Best practice for complying with our AML/CTF Policy
  13. Customer due diligence
  14. Assessing risk
  15. You make the call: How risky is it?
  16. Standard CDD
  17. Standard documentary evidence
  18. Good practice for standard CDD
  19. You make the call: Is it sufficient?
  20. Scenario: Requesting supporting evidence
  21. Due diligence of other entities
  22. Scenario: Private entity CDD
  23. Scenario: The delay
  24. Simplified CDD
  25. You make the call: Who is considered low-risk?
  26. Enhanced CDD
  27. Scenario: The telephone sale
  28. CDD: Monitoring customer activity
  29. What should you look out for?
  30. You make the call: To report or not?
  31. Scenario: Joe's conviction
  32. Politically exposed persons (PEPs)
  33. What do you think: Can we deal with PEPs at all?
  34. Our rules on PEPs and sanctions
  35. Scenario: Transaction with a sanctioned entity
  36. Scenario: A workaround
  37. Suspicious Activity Reporting (SAR)
  38. Scenario: When to report
  39. Scenario: Avoiding tip-offs
  40. Summary
  41. Assessment

Questions and answers

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.