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Anti-Money Laundering Compliance Training

Anti-money laundering controls make it harder for criminals to spend their illicit gains.

To launder dirty money, criminals attempt to deceive staff and officials. They may also attempt to transfer the cash to a country with weaker money laundering controls or spread the cash across multiple small transactions to avoid detection. They avoid large, lump sum payments or transactions for fear that they will raise a red flag.

Our Anti-Money Laundering Compliance Training (AML Compliance Training) will teach employees when to refer to anti-money laundering policy, how to follow Anti-Money Laundering Compliance Training procedures, and how to spot red flags, and will encourage them to seek advice when raising concerns and reporting breaches.

Compliance Training - Responsiveness
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Compliance Training - Single Enterprice Licence
Single enterprise licence covers your entire workforce, including contractors
Compliance Training - Availability
Available in 20+ languages, with compliance training resources for local market regulations

Video: Overview of money laundering. Anti-money laundering controls.

Scenario: Identifying activities that might indicate money laundering.

Key Learning: Criminals may use deception or bribery to launder dirty money. They may also transfer the dirty money to a country with weak money laundering controls. Money launderers expect to lose money turning dirty money into clean money.

Scenario: Identifying other activities that might indicate money laundering.

Key Learning: Criminals have developed numerous clever strategies to launder money. But they are vulnerable to good anti-money laundering controls and to sharp-eyed individuals who understand how to recognize money laundering.

Interactive Screen: Consequences of money laundering. AML sanctions. AML impact. Crime and terror.

Scenario: Identifying the consequences of an accusation of money laundering.

Key Learning: Money laundering, or failing to prevent it, always carries consequences, including a wide range of fines, years of legal proceedings, and the loss of business.

Scenario: Impact of money laundering on economic development.

Key Learning: Successful money laundering leads to more crime or even terrorism. It promotes corruption, undermines the rule of law wherever it occurs, and weakens financial and governmental institutions.

Interactive Screen: Explanation of placement, layering, and integration. Placement is the best place to stop money laundering.

Scenario: Spotting red flags that may indicate money laundering.

Key Learning: Placement is the conversion of cash into something else of value. It’s important that you can recognize red flags that indicate the placement stage of the money laundering process.

Scenario: Identifying the strategies used to layer dirty money.

Key Learning: Layering is all about hiding the origin of the money once it is in the system.

Scenario: Identifying integration methods.

Key Learning: Integration is the return of the assets back to the criminal after sufficient activity to disguise the illicit origin.

Video: Anti-money laundering (AML) controls, laws, and regulations. G7 Financial Action Task Force. Screening and monitoring of all transactions, risk assessment, due diligence, monitoring, and mitigation. Do not tip off. Three lines of defense.

Scenario: Taking action when you suspect money laundering.

Key Learning: When you spot a suspicious behavior, DO NOT contact the client, as this will alert them.

Scenario: What should happen when money laundering is suspected?

Key Learning: When a red flag is raised, the company will avoid direct contact with the suspects. We will conduct our own investigation. The authorities will be brought in if necessary.

Interactive Screen: Money laundering risk life cycle. Risk assessment on new clients. Build a client profile. Conduct due diligence. Monitoring and risk tolerance.

Scenario: Spotting red flags during a risk assessment.

Key Learning: Verify the client’s identity and location, as the identity and location might indicate red flags.

Scenario: Spotting red flags during due diligence.

Key Learning: Determine the client’s ownership structure, identify the source of their wealth and funds, and screen for negative news.

Scenario: Taking action when red flags are identified during the monitoring phase.

Key Learning: During the monitoring phase, you audit past and current controls.

Interactive Screen: Define what sanctions and embargoes are and what they are used for. Checking the lists and what to do when a positive match is identified.

Scenario: Taking the correct action when presented with a high-risk transaction.

Key Learning: It’s important to know your client and know what countries you can deal with. If in any doubt, check the sanction blacklist.

Scenario: Client has opened an office in a country on the sanctions list and is transferring large sums of money into an account in the country.

Key Learning: Companies have a legal obligation to comply with sanctions and embargoes.

Text & Image Screen: The success of our AML program depends on you! Raise red flags and record issues appropriately.

Interactive Screen: Anti-money Laundering Training controls and reports. Know your customer. CTRs. SARs. How long do we keep records?

Scenario: Taking the correct action when presented with a clear red flag transaction.

Scenario: We have AML internal reporting requirements, and you must follow them at all times. Never tip off a client if you are suspicious.

Key Learning: When a red flag is raised, the company will avoid direct contact with the suspects. We will conduct our own investigation. The authorities will be brought in if necessary.

More about Anti-Money Laundering Compliance Training

If Anti-Money Laundering Compliance Training regulations are breached, this can have serious consequences for you, for your company, and for the global community. Companies and employees could face severe fines, criminal sanctions, years of legal proceedings, and the loss of business and time. So it is essential that you offer comprehensive Anti-Money Laundering Compliance Training to employees.

There is also a wider human impact. The UN estimates that money laundering accounts for 2 to 5% of annual global gross domestic product (GDP), which is equivalent to about $2,300,000,000,000.

This money allows criminals to continue their destructive activities. The consequences of allowing criminals and terrorists to fund their activities by money laundering are alarming – that’s why anti-money laundering is so important.

To counter this threat, governments and companies around the world have initiated anti-money laundering (AML) controls, laws, and regulations. A critical component of these controls is comprehensive, engaging, and relevant AML compliance training.

Our Anti-Money Laundering Compliance Training considers international and local law, business drivers, our clients’ Codes of Conduct, as well as their risk appetite.

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