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Participants learn AML/CFT compliance, risk assessment, and due diligence. The course covers reporting, record-keeping, and staff training. They also gain insights into internal controls and the importance of confidentiality in reporting.OVERVIEW
Topic 1. How to stay updated with AML/CFT regulations and guidelines relevant to their profession.
Topic 2. Techniques to identify and assess risks related to money laundering and terrorist financing associated with clients, services, and geographic locations.
Topic 3. Procedures for conducting thorough CDD on clients, including identity verification and risk assessment, and the importance of maintaining records.
Topic 4. Requirements and procedures for promptly reporting suspicious activities to relevant authorities.
Topic 5. The significance of accurate and up-to-date record-keeping of client transactions and CDD measures, and compliance with retention periods.
Topic 6. The value of providing AML/CFT training to staff to enhance awareness and understanding, along with staying updated on AML/CFT developments.
Topic 7. Compliance with reporting requirements to regulatory bodies, including filing AML reports, and cooperation with regulatory examinations and audits.
Topic 8. How to establish and maintain effective AML/CFT policies, procedures, and controls to prevent money laundering and terrorist financing.
Topic 9. Techniques for monitoring compliance with AML/CFT policies, conducting periodic reviews, and assessing the effectiveness of AML/CFT measures.
Topic 10. Understanding the importance of maintaining client confidentiality while adhering to AML/CFT reporting requirements and ensuring non-disclosure of suspicious activity reports as required by law.
About the Trainer
Joseph Philip
Joseph Philip is a Fellow Member of ICAI and a Certified Auditor by the Ministry of Economy, UAE, with over 27 years of experience. He specializes in audit, business consultancy, due diligence, feasibility studies, and risk reviews across industries like manufacturing, real estate, and retail.