Introduction
This course provides a comprehensive and practical analysis of Money Laundering schemes, Anti-Money Laundering legislation, and counter-measure techniques and implementation. Participants will learn to understand the complexities associated with the prevention and the protection of their organizations. They will cover different types of schemes, the methods available to prove income, what records are required, how to analyze them, and how to identify leads.
Course Objectives of The Full Programme of Anti-Money Laundering (AML)
- Detect and prevent Money Laundering
- Define Money Laundering and its cycle
- Identify how Money Laundering can be committed
- Analyze financial records and identify possible leads
- Apply methods to prove income or funds from unknown sources
The Full Programme of Anti-Money Laundering (AML) Course Outlines
Day 1
Advanced approaches to Anti-money laundering
- The risk-based approach of anti-money laundering
- Methods of money laundering through financial, production, and service institutions
- Customer and Entity Risks
- Regional and Geographical Risks
- logistical risks
- Risks of services and products
- Technical and organizational risks
- Money laundering risk management strategies
- The responsibility approach and the role of compliance management of anti-money laundering
- Continuous Improvement Approach
Day 2
Money Laundering schemes
- Nominee scheme
- Business front scheme
- Banking scheme
- Banking-business combination
- Smurf and structured transactions
- Shell companies
- Loan-back schemes
- Invoice scams
- Buy-backs
- Examples of money laundering schemes
Day 3
Identifying indicators of illegal activities in bank records
- How indicators are developed
- How indicators can be used
- Indicator examples
- Abnormal activity in accounts
- Tips and pitfalls
Day 4
Methods of proving income
- Analyzing financial records for leads
- Using books and records in a financial case
- Analyzing the balance sheet
- Analyzing the income statement
- Indirect methods: net worth and bank deposits
- Direct methods of proof
- The Capone organization
Day 5
Legislation and legal procedures
- An overview of the international and Arab laws related to anti-money laundering.
- The role of Anti-Money Laundering Authority in organizations
- The role of financial management and auditor's reports
- Methods for detecting tax evasion or non-compliance
- Investigation Procedures
- Studying the documents and files of the suspicious operation
- Subpoena, inspection, and issuance of relevant reports
- Conclusion of the program
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
