Anti Money Laundering (Global)

This Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing.

Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone. We explain how to identify the stages of money laundering, adopt an AML program, conduct Know- Your-Customer procedures and fulfil your reporting obligations. The intent of this course is to provide a general understanding of money laundering and terrorism-financing risks, and give specific understanding of how to prevent it from occurring. Money laundering is a major industry. For example, a recent UN report notes

The acceleration of globalized crime networks centred in the Mekong aided by technology has dramatically expanded criminal revenue streams. This has necessitated a revolution in the regional underground banking architecture, resulting in the development of systems and infrastructure capable of moving and laundering massive volumes of state-backed fiat and cryptocurrencies. United Nations Office on Drugs and Crime Jan 2024: Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating Threat

Depending on the jurisdiction, different industries have obligations under AML laws. But even where an industry has no specific legal obligation, they still may need their staff to be aware of the risks – including reputational and governance risks and the risk of exposure to significant organised crime groups – posed by money laundering and terrorism financing. The course should be completed by all employees of relevant entities (including those involved in compliance and risk management functions) that offer services such as:

• providing bank account-related services
• making loans
• exchanging currencies
• issuing debit and stored value cards
• issuing securities and derivatives
• stockbroking
• carrying out or facilitating property transfers
• gaming and betting
• providing legal advice

  It is designed to cater for a diverse audience and all levels of staff, therefore we have generic modules aimed at all employees and some specific to senior management.

Course outline

Module 1: Introduction to money laundering Module 2: The risk of money laundering Module 3: KYC obligations Module 4: Suspicion and threshold transactions Module 5: Terrorist financing You will have 90 days to complete this course.