Anti Money Laundering Training Course Overview
The ever-evolving world of finance cannot overstate the importance of Anti-Money Laundering (AML) measures. Money laundering is a global issue that continually threatens the stability of financial systems, leading to socio-economic problems and facilitating criminal activities. This is the main problem that our Anti Money Laundering Training seeks to address.
This course, will equip you with the necessary knowledge and skills to identify, report, and prevent money laundering activities within your organisation or institution.
The Benefits of solving this problem
Firstly, you will be contributing to global efforts in preventing the flow of illicit funds, which often finance harmful activities like terrorism and organized crime. Next, by fostering a strong culture of compliance, businesses can protect themselves from the reputational damage and financial penalties associated with money laundering.
Key Features of This Course
- Accredited by CPD
- Instant e-certificate
- Fully online, interactive course with audio voiceover
- Developed by qualified professionals
- Self-paced learning and laptop, tablet, smartphone-friendly
- 24/7 Learning Assistance
- Discounts on bulk purchases
Endorsement
The Quality Licence Scheme has endorsed this course for its excellent non-regulated provision and training programs. However, Ofqual does not regulate it, and it is not an accredited qualification. If you require further recognition, such as progression into higher education, your training provider can offer advice. You may also refer to the Learner FAQs on the Quality Licence Scheme website for more information.
Certification
After successfully completing the Anti Money Laundering Training Course 2023, learners will be able to order an endorsed certificate as proof of their achievement. This certificate of achievement endorsed by the Quality Licence Scheme.
Also once you’ve successfully completed your course, you will immediately be sent a CPD Accredited FREE Digital Certificate.
Learning Outcomes
By the end of the course, learners will be able to:
- Understand the basics of Anti-Money Laundering (AML)
- Discuss the three stages of money laundering and the Proceeds of Crime Act 2002
- Demonstrate knowledge of the role of a money-laundering report officer
- Assess client risk and conduct a thorough client risk assessment
- List the main elements of a customer due diligence program
- Understand AML record-keeping requirements in the UK
- Detect unusual transactions and suspicious activity
- Show awareness of staff responsibility and training requirements
- Identify the different types of events that might cause suspicion
Who should take the course
This Anti Money Laundering Training is ideal for anyone looking to kickstart a career in this field or who wants to gain a deeper understanding of money laundering and how to prevent it. This includes:
- Money Laundering Reporting Officer
- AML Analysts
- AML Officer
- Risk & Compliance Analyst
- Compliance Manager
Assessment
At the end of the course, there will be an online assessment, which you will need to pass to complete the course. Answers are marked instantly and automatically, allowing you to know straight away whether you have passed. If you haven’t, there’s no limit on the number of times you can take the final exam. You paid a one-time fee for the course that includes all of this.
Course Curriculum
Module 01: Introduction to Money Laundering
In this introductory module, we will develop our understanding of what money laundering is and will explore the three stages of money laundering in detail.
Module 02: Proceeds of Crime Act 2002
In module two, we will learn the principles of the Proceeds of Crime Act 2002 and discuss the notions and elements of criminal property. It covers the concealing offence, arranging office and the Acquisition, Use and Possession Offence.
Module 03: Development of Anti-Money Laundering Regulation
In module three, we will familiarise with terrorist legislation and take a more in-depth look at The Proceeds of Crime Act 2002. It provides essential information on the second, third, fourth and fifth Money Laundering Directive.
Module 04: Responsibility of the Money Laundering Reporting Officer
In module four, we will learn about the role of the money laundering reporting officer and the information that needs to be included in the MLRO’s Annual Report. It also covers internal reporting procedures.
Module 05: Risk-based Approach
In module five, we will develop our understanding of customer due diligence and the main factors to consider when determining AML risk. It also provides step-by-step guidance on how to assess client risk.
Module 06: Customer Due Diligence
In module six, we will explore the key elements needed in a customer due diligence program, from account opening to customer identification and verification. It also covers consolidated KYC risk management.
Module 07: Record Keeping
In module seven, we will look at record-keeping procedures and best practice, including in what form records should be kept and the consequences of failure to keep records.
Module 08: Suspicious Conduct and Transactions
In module eight, we will gain an in-depth understanding of what constitutes suspicious activity and what to do if customer activity appears suspicious, as well as the types of events that may cause suspicion.
Module 09: Awareness and Training
In module nine, we will take a look at the legal requirements for staff training and awareness, including the responsibilities of senior staff. A wide range of training methods will be explored, as well as key assessment procedures.
