Program Name

“For highly specialized officers” Workshop AML for Compliant Officers (Introduction)

This program is tailored made for AML Compliant officers (Head offices and branches), Risk Management, Internal Audits, product development, marketing and legal firms/advisors.

Duration:

  • 12 training hours.
  • First day: lecture, cases and discussions.
  • Second day: questions and answers. Syndicate groups.

Seating Arrangement:

  • First day: Normal U type, lecture and discussions.
  • Second day: participants to be divided 4 to 5 to discuss and share their views. Seating arrangement to be arranged accordingly.

Methodology:

The workshop part i.e. the second day, high level cases and questions relating to policies, procedures and legal issues. Participants will discuss amongst themselves and later teams will discuss their views and share the same with all the other teams. Off course as it will offered in all the programs, the slides will be bi-lingual (Arabic and English).

Workshop outline:

  • Definition of financial institution.
  • Anti-Money Laundering and Anti-Terrorist Financing Legislation.
  • Bank Secrecy Act and Related Anti-Money Laundering Laws.
  • The USA PATRIOT Act.
  • Financial Crimes Enforcement Network (FinCEN).
  • Basel: Risk Management and KYC.
  • Basel: Prevention of Criminal use of the banking system for the purpose of Money laundering.
  • Managing OFAC requirements.
  • Establish an Effective Suspicious Activity Monitoring and Reporting Process.
  • Develop Risk-Based Anti-Money Laundering Programs.
  • High-Risk Products and Services.
  • Wire Transfer / International Correspondent Banking.
  • Private Banking Relationships.
  • Electronic Banking.
  • High-Risk Customers.
  • High-Risk Geographic Locations.
  • What Bankers Should Look For.
  • Money Laundering Red Flags.
  • Efforts to Avoid Reporting or Record Keeping Requirement.
  • Certain Funds Transfer Activities.
  • Activity Inconsistent with the Customer’s Business.
  • Other Suspicious Customer Activity.
  • Status of Limitation.
  • Changes in Bank-to-Bank Transactions.
  • Bank Employees.
  • Terrorist Financing Red Flags.
  • Reports That Can Help Bankers Identify Suspicious Transactions.
  • Cash Transaction Reports.
  • Wire Transfer Records / Logs.
  • Monetary Instrument Records.
  • Credit Cards.
  • Loans.
  • Outsourcing.
  • Secondary Markets.
  • Insurance Companies.
  • Velocity of Funds.
  • Schemes Involving Possible Money Laundering and Terrorist Financing.
  • Operation Wire Cutter.
  • High-Risk Geographic Location.
  • Wire Remittance Company.
  • Travel Agent.
  • Suspicious Activity Report Leads to Embargo Investigation.
  • Where to Get More Information.

Language of the programs:

This program can be provided in English and Arabic. It is preferable to divide the participants between the Arabic and the English programs to ensure that they get the maximum benefit.