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Wolfsberg Principles on Correspondent Banking

KESDEE Inc

Summary

Price
£37.59 inc VAT
Study method
Online
Duration
1 hour · Self-paced
Qualification
No formal qualification
3 students purchased this course

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Overview

The 9/11 terrorist attacks in the United States have led the international community to formulate new legislations and guidelines to counter the escalating risks of Money Laundering. Across nations, Anti-Money Laundering training and compliance requirements have therefore gained significance.
It is in this light that the American Congress brought about new measures in the form of International Money Laundering Abatement and Anti-Terrorist Financing Act, 2001(Title III of USA Patriot Act, 2001) that amended the Bank Secrecy Act, 1970 and its implementing Regulation. For financial institutions today, failure to comply with these requirements entails severe penalties in addition to increased exposure to compliance, reputational, strategic and operational risks.

Description

  • The process of Money Laundering, measures against money laundering and initiatives taken by various organizations to combat terrorism
  • Comprehend the implications of offshore financial centers and non-cooperative countries on Money Laundering
  • Understand the implications and penalties for non-compliance with Anti-Money Laundering legislations
  • Due diligence measures undertaken by financial institutions to deter money laundering and terrorist financing
  • Regulations applicable to banks
  • Certain Principles that are to be adopted by the private banks to guard against money laundering

This course explains global anti-money laundering guidelines followed by the world’s largest banks along with the global anti-corruption organization to govern correspondent banking relationships. It helps the user understand:

  • Wolfsberg anti-money laundering principles in relation to correspondent banking The CIP regulations as applicable to banks
  • Features of correspondent banking

Who is this course for?

Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from KESDEE’s innovative solutions.

  • Supervisory Agencies
  • Central Banks
  • Financial Institutions
  • Commercial Banks
  • Investment Banks
  • Housing Societies/Thrifts
  • Mutual Funds
  • Brokerage Houses
  • Stock Exchanges
  • Derivatives Exchanges
  • Insurance Companies
  • Multinational Corporations
  • Accountancy Firms
  • Consultancy Firms
  • Law Firms
  • Rating Agencies
  • Multi-lateral Financial Institutions
  • Others

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

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