Anti-Money Laundering & Counter-Terrorist Financing

Anti-Money Laundering & Counter-Terrorist Financing
Teacher: Gruber & Partner
Released: September 21, 2019
Length: 2 hours
Level: Intermediate
Certificate: Finish lessons, plus pass quizzes with an average of 70%
Tags: AML
Table of Contents
Description
Teacher
Introduction
Welcome to the AML and CTF course
Why AML training matters
Module 1: Fundamentals
Module 1 — AML and CTF fundamentals
The framework at a glance
What is money laundering?
What is terrorist financing?
The three stages of money laundering
Following the money trail
How betting can be misused
A betting-related laundering scenario
FATF and international standards
EU legislation and the German framework
The German Money Laundering Act
Module 1 review and quiz preparation
Module 1 quiz — AML and CTF fundamentals
Module 2: Customer Due Diligence
Module 2 — Knowing your customer
Customer due diligence: the main steps
KYC and identification triggers
Beneficial ownership and acting for another person
The risk-based approach
Five areas to consider when assessing risk
Documents used to verify identity
Checking an identity document
Identity fraud and account misuse
Enhanced due diligence
Politically exposed persons: appropriate safeguards
Recognising prominent public functions
Applying identification rules at the betting counter
Using an identity-document scanner
Acceptable documents: making the right decision
Module 2 review and quiz preparation
Module 2 quiz — Customer due diligence
Module 3: Monitoring and Reporting
Module 3 — Monitoring and reporting
Why ongoing monitoring matters
Cash, cards and payment risks
Transaction splitting and smurfing
Betting patterns that deserve attention
Behavioural warning signs
Technology and staff observations
The role of the AML officer
How to report a concern internally
Reporting duties and possible sanctions
Confidentiality and the tipping-off prohibition
Customer warning signs: assess the context
Transaction warning signs: look at the whole pattern
Final review and module 3 quiz
Module 3 quiz — Monitoring and reporting