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Want to learn more about financial crime protection and how to protect your organisation’s finances from fraud and money launderers? If you’re considering becoming an Anti-Money Laundering Specialist, then the Money Laundering Reporting Officer course will provide you with the practical knowledge you need to elevate your career.
This AML training course explores the foundations of AML and the legal and regulatory framework surrounding it. You will also gain in-depth knowledge of the legal responsibilities of businesses in connection to money laundering, and the role and responsibilities of a money laundering reporting officer.
Our expert instructor will guide you through fundamental topics such as risk analysis, customer due diligence, suspicious activity reporting, record-keeping and much more. Enrol today and learn how to secure the financial safety of your business.
Why choose this course
- Earn a free e-certificate upon successful completion.
- Accessible, informative modules taught by expert instructors
- Study in your own time, at your own pace, through your computer tablet or mobile device
- Benefit from instant feedback through mock exams and multiple-choice assessments
- Get 24/7 help or advice from our email and live chat teams
- Full Tutor Support on Weekdays
The course is delivered through our online learning platform, accessible through any internet-connected device. There are no formal deadlines or teaching schedules, meaning you are free to study the course at your own pace.
You are taught through a combination of
- Online study materials
- Mock exams
- Multiple-choice assessment
************************** Course Modules **************************
Money Laundering Reporting Officer
Module 1: Introduction to the Course
- What is the purpose of this course?
- Who is this course for?
- What is the legal status of this course?
Module 2: Definition of Money Laundering
- What is money laundering?
- What is the legal and regulatory framework?
Module 3: Responsibility & Oversight
- What are the responsibilities of a business?
- How should sole practitioners implement these requirements?
- What are the responsibilities of Senior Management/Money Laundering Reporting Officer?
- How might the ‘MLRO’ role be split?
- What policies, procedures and controls are required?
Module 4: Risk Based Approach
- What is the role of the risk based approach (RBA)?
- What is the role of senior management?
- How should a risk analysis be designed?
- What is the risk profile of the business?
- How should procedures take account of the RBA?
- What is client risk?
- What is service risk?
- What is geographic risk?
- What is sector risk?
- What is delivery channel risk?
- Why is documentation important?
Module 5: Customer Due Diligence (CDD)
- What is the purpose of CDD?
- When should customer due diligence be carried out?
- How should CDD be applied?
- What happens if customer due diligence cannot be performed?
Module 6: Suspicious Activity Reporting
- What must be reported?
- When and how should a report be made?
- What is consent and why is it important?
- What should happen after an onward report has been made?
Module 7: Record Keeping
- Why may existing document retention policies need to be changed?
- What should be considered regarding retention policies?
- What considerations apply to SARs and consent requests?
- What considerations apply to training records?
- Where should reporting records be located?
- What do firms need to do regarding third-party arrangements?
- What are the requirements regarding the deletion of personal data?
Module 8: Training and Awareness
- Who should be trained and who is responsible for it?
- What should be included in the training?
- When should training be completed?
Module 9: GLOSSARY
- Definitions of Anti-Money Laundering Terms
Module 10: Legislative Summaries – Proceeds of Crime Act 2002
- Different Sections of the Act
Module 11: Outsourcing, Subcontracting and Secondments
- Outsourcing and subcontracting arrangements
- Secondees and those temporarily working outside the UK
- Reporting requirements for subcontractors and secondees
Module 12: Client Verification
- Client identification and verification
- Source of wealth and source of funds
- Private companies/LLPs
- Listed or regulated entity
- Government or similar bodies
Module 13: Decisions and Risk Factors
- Should You Report to the MLRO?
- As the MLRO, should you report externally?
- Checklist: Essential Elements of a SAR
- High risk factors
- Low risk factors
Upon successful completion of the course, you can instantly download your e-certificate free of cost. Print copy by post is also available at an additional cost of £9.99 and PDF Certificate at £4.99.
There is no specific requirements for our Money Laundering Reporting Officer course. It is compatible and accessible from any device including Windows, Mac, Android, iOS, Tablets etc. The course requires a moderate Internet connection so it is possible to start learning with any type of Internet from anywhere at anytime without any limitations.
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