Anti-Money Laundering Aml/Cft - Practical Case Studies

Practical AML/CFT Case Studies for MLROs, AML Analysts, Risk Managers, Regulators, Reviewers, Auditors and Consultants

What you'll learn

Understand Anti Money Laundering and Anti-Money Laundering AML with Case Scenarios

Distinguish between AML Risk Levels High-Risk, Medium Risk and Low Risk Levels and Mapping of Different Transactions to relevant Risk Levels

How Compliance Officers/AML Analyst/MLROs Think, Approach a Case, Perform Investigation, Coordinate with Stakeholders etc. to resolve an Inter-linked Case

How Compliance Team/MLRO approach and investigate 'HNWIs linked to Money Laundering' Cases

How Compliance Team/MLRO approach and investigate Arts and Precious Items linked to Money Laundering

How Compliance Team/MLRO approach, and investigate 'High-Risk Account and Transactions' Case

How Compliance Team/MLRO approach, investigate and resolve 'PEP linked to Money Laundering' Case

How Compliance Team/MLRO approach, and investigate case involving Cross-Border Transactions and Shell Company

How MLRO educates AML Analyst on application of FATF Recommendations to onboard a customer associated with Politically Exposed Persons PEPs.

How AML Analyst formally draft 'email' to advise on implementation of FATF Recommendations after discussion with MLRO..

Case Study - Opening 'High-Risk' Account and EDD Investigation

Case Study- Corrupt Account Opening Officer, Fake Account and Action by Compliance

Case Study - HNWI ML Activity, Roles of AML Analyst, MLRO, and RM and MLRO's Final Decision

Case Study - FATF Recommendations and Onboarding Customer belonging to a PEP

Case Study - Perform AML Risks Review, Develop 'Risks Heat Map' and Action Plan

Assignment - Prepare AML Risks and Heat Map

Requirements

Basic/Intermediate level understanding of Anti-Money Laundering AML, Customer Due Diligence and Know Your Customer KYC

Description

Hello and welcome to 'Anti-Money Laundering and Countering Financing of Terrorism AML/CFT - Case Studies' Course Why This Course?This is a practical, real-life, and scenario-based AML/CFT case studies course, suitable for Compliance, Risk Management, Controls, and Audit professionals. If you are working as a Chief Compliance Officer CCO, Money Laundering Reporting Officer MLRO, Deputy Money Laundering Reporting Officer DMLRO, AML Analyst, AML/CFT Reviewer, CDD/KYC Professional, Regulator, Risk Management Professional, Compliance Risk Manager, or Audit Professional, then this course is for you.Financial institutions are required to implement the AML/CFT Programs to avoid the financial system's exploitation by criminals, such as money launderers and fraudsters. Regulators, such as the Central Banks, State Banks, or AML Regulators, impose heavy fines on institutions, companies, and businesses that do not comply with the requirements of the AML/CFT framework and regulations. The Financial Action Task Force (FATF) has also issued its recommendations, the adoption of which helps ensure the implementation of strong AML / CFT measures and practices and handle different possible suspicious transactions and cases. This course is designed to provide you with sound knowledge about the AML/CFT case studies that Compliance Professionals encounter in their day-to-day jobs. COURSE TOPICSIn this course, you will learn the following Topics and Case Studies;TOPICS AND CASE STUDIESYou will learn the concept of 'Money Laundering ML', and ML Activities You will learn Real-Life Case Scenarios Indicating Money Laundering Acts and ActivitiesYou will learn Anti-Money Laundering AML You will learn AML Risk Levels You will learn the Components of AML/CFT Compliance ProgramYou will learn different AML-related Transactions/Activities faced and handled by Institutions/OrganizationsYou will learn how AML-related Transactions/Activities are Mapped to different AML Risk LevelsCASE STUDIESDifferent practical and real-life case scenarios and case studies are included in the course to help you understand how the AML/CFT Compliance Function and Team work regularly. Case Study - Opening 'High-Risk' Account and EDD InvestigationCase Study - Corrupt Account Opening Officer, Fake Account, and Actions by ComplianceCase Study - 3 Different Customers, 3 Different Suspicious Activities, AML Red-Alerts, and MLRO Actions/DecisionsCase Study - HNWI ML Activity, AML Analyst and MLRO Roles, RM Roles and Necessary Scenario DecisionsCase Study - FATF Recommendations and Onboarding Customer belonging to a PEPCase Study - Perform AML Risks Review, Develop 'Risks Heat Map' and Action PlanCase Studies Learning Outcome;In the above case studies, you will learn the different scenarios/activities involving different customers such as individuals, businesses, companies, and transactions/activities reviewed and investigated, including crypto, wire transfer, illegal funds transfer, etc. You will learn important 'AML/CFT and CDD/KYC Concepts and Workflow' implemented in regulated Institutions. You will also learn the reasons of suspicious/red alerts and how they are addressed by the 'AML Compliance Officer/MLRO' of the Institution. You will learn how the MLRO investigates, thinks through different scenarios/activities under the light of AML Regulations/FATF Recommendations, collaborates with stakeholders/experts for data/evidence collection, and implements AML decisions. You will learn how MLRO educates the AML Analyst for the Implementation of specific FATF Recommendations, including Due Diligence, and EDD for onboarding compliance. You will also learn how the AML Analyst formally gives AML Compliance Advisory to internal stakeholders, under the guidance of the MLRO.  You will also learn to perform 'AML Risks Reviews', AML Risk 'Heat Map', and 'AML Risks Action Plan', etc. ASSIGNMENTDevelop 'Risks Heat Map' and Action Plan, as we discussed in a Case Study.Benefits of This CourseThis course is a practical and scenario-based course, which will give you insights on how AML/CFT and CDD/KYC Compliance is managed by subject matter experts, including Money Laundering Reporting Officers MLROs, AML Analysts, Compliance Officers, etc. You will feel confident while talking to AML/CFT Compliance professionals. You will get a course completion certificate and access to the lecturesYou will be able to apply for Compliance Jobs, such as working in Consultancy Firms in their compliance departments/functions Who Should Attend This Course:Bankers, Gateways and MSBs Professionals, Leasing Professionals, Crypto-Exchange Compliance Professionals,Regulators - Financial Intelligence Unit FIU Professionals, AML / CFT Professionals, MLROs, DMLROs, AML Analysts, Customer Due Diligence and Know Your Customer - CDD/KYC Professionals,Designated Non-Banking Finance Professionals DNFBPs - Lawyers, Accountants, Real-Estate Agents, etc.Owners/Trustees/Managers of NPOs/NGOs  Branch and Operations Managers, Risk Management Professionals, Auditors and Internal Controls Professionals, AML/CFT students, CAMS students, Audit students, Risk Management Students, and others who want to learn more about AML/CFT Compliance Case Studies and Scenarios.

Overview

Section 1: Introduction

Lecture 1 Course Outline and Learning Outcomes

Section 2: Money Laundering, Anti-Money Laundering AML, AML Risk Levels and Risk Mapping

Lecture 2 Understanding Money Laundering Activities

Lecture 3 Case 1 - Suspicious Activities - Money Laundering and Misuse of Financial System

Lecture 4 Case 2 - Suspicious Activity - Money Laundering and Misuse of Financial System

Lecture 5 Case 3 - Money Laundering Activity and Misuse of Financial System

Lecture 6 Case 4 - Money Laundering Activity and Misuse of Financial System

Lecture 7 Understanding Anti-Money Laundering AML

Lecture 8 Components of AML/CFT Compliance Program - MLROs and AML Teams Must Understand

Lecture 9 Understanding AML Risk Levels

Lecture 10 Classification/ Mapping of Transactions and Activities to AML Risk Levels

Section 3: AML Case Studies - Risks, Suspicions, Alerts, Reviews and MLRO Decisions

Lecture 11 Case Scenarios - Identifying 'Red Alerts' and 'Compliance Officer/MLRO Actions'

Lecture 12 Case Study - Opening 'High-Risk' Account and Performing EDD Investigation

Lecture 13 Case Study - Corrupt Officer, Fake Accounts and Compliance Actions

Lecture 14 Case Study - HNWI ML Activity, AML Analyst and MLRO Roles, RM Roles and Decision

Lecture 15 Case Study - FATF Recommendations and Onboarding Customer belonging to a PEP

Section 4: Case Study - Performing AML Risks Review, Developing Heat Map and Action Plan

Lecture 16 Case Study - Perform AML Risks Review, Develop 'Risks Heat Map' and Action Plan

Compliance Professionals, including AML Analysts, AML Experts, MLROs, Chief Compliance Officers CCOs, Compliance Auditors, AML Risk Managers, Legal Practitioners, Compliance Consultants,Professionals and students curious to learn real-world practical AML/CDD/KYC case studies,Risk Management and Audit Professionals,Departmental Heads, willing to learn practical case AML studies/scenarios faced by institutions/organizations and know how are they reviewed and investigated by AML Team/MLRO.,AML/CFT, Compliance, Finance and Risk Management Students including ACAMS, CA, ACCA, MBA, CPA, etc