Anti-Money Laundering
A Library of 6 courses covering the aspects of money laundering
and initiatives undertaken to combat terrorism including
regulations that govern financial institutions.

The themes of this product are:

  • Significance of the Anti-Money Laundering Measures, Regulations and the initiatives taken to combat terrorism.
  • Analysis of their impact on financial institutions and business

 
Anti-Money Laundering
Overview
The 9/11 terrorist attacks in the United States have led the international community to formulate new legislations and guidelines to counter the escalating risks of Money Laundering. Across nations, Anti-Money Laundering training and compliance requirements have therefore gained significance.
It is in this light that the American Congress brought about new measures in the form of International Money Laundering Abatement and Anti-Terrorist Financing Act, 2001(Title III of Patriot Act, 2001) that amended the Banking Secrecy Act, 1970 and its implementing Regulation. For financial institutions today, failure to comply with these requirements entails severe penalties in addition to increased exposure to compliance, reputational, strategic and operational risks.
  
After completing this course you will be able to understand:
  • The process of Money Laundering, measures against money laundering and initiatives taken by various organizations to combat terrorism.
  • Comprehend the implications of offshore financial centers and non-cooperative countries on Money Laundering
  • Understand the implications and penalties for non-compliance with Anti-Money Laundering legislations
  • Due diligence measures undertaken by financial institutions to deter money laundering and terrorist financing.
  • Regulations applicable to banks.
  • Certain Principles that are to be adopted by the private banks to guard against money laundering
For purchase, contact us at
E-mail: support@prmia.org

For online purchase, visit www.prmia.org

 
Anti-Money Laundering
  1. Course Level and Number of Courses
    Intermediate Level. Library of 6 Courses

  2. Instructional Method
    Dynamic and Interactive e-learning

  3. Recommended Background
    Familiarity with basic financial concepts

Target Audience

Everyone involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from KESDEE’s innovative
solutions.
  • Supervisory Agencies
  • Central Banks
  • Financial Institutions
  • Commercial Banks
  • Investment Banks
  • Housing Societies/Thrifts
  • Mutual Funds
  • Brokerage Houses
  • Stock Exchanges
  • Derivatives Exchanges
  • Insurance Companies
  • Multinational Corporations
  • Accountancy Firms
  • Consultancy Firms
  • Law Firms
  • Rating Agencies
  • Multi-lateral Financial Institutions
  • Others
For purchase, contact us at
E-mail: support@prmia.org

For online purchase, visit www.prmia.org

 
Anti-Money Laundering
 
Library of 6 Courses


Time taken to complete each Course:
Two - Three hours

1. What is Money Laundering

This course gives a general overview of money laundering and its challenges to the financial world. It helps the user understand:

  • Three stages in money laundering
  • Methods used for laundering money
  • Measures to meet money-laundering challenges

2. International Initiatives

This course explains the initiatives undertaken by various International organizations in preventing money laundering and combating terrorism. The user will be able to comprehend:

  • The measures undertaken by various international organizations to prevent money laundering and financing of terrorism
  • Establishment of FATF and its fight against money laundering and terrorism financing
  • Customer policies and procedures

3. Customer Identification Program

This course explains the Customer Identification Program (CIP) rules that are applicable to banks and financial institutions, whereby institutions verify the identity of each customer when an account is opened. This helps the user to assimilate:

  • The CIP regulations as applicable to banks
  • The risk-based approach that verifies the identity of each customer

4. USA Patriot Act

This course explains the USA PATRIOT ACT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism), which provides new anti-money laundering measures as applicable to banks. This also helps the user to understand:

  • Title III of the Act that brings about sweeping changes to anti-money laundering measures
  • Regulations under the Act as applicable to banks
  • The special measures undertaken by private and correspondent banks.
  • The initiatives taken to combat terrorism

5. Wolfsberg Principles on Correspondent Banking

This course explains global anti-money laundering guidelines followed by the world’s largest banks along with the global anti-corruption organization to govern correspondent banking relationships. It helps the user understand:

  • Wolfsberg anti-money laundering principles in relation to correspondent banking
  • Features of correspondent banking

6. Terrorist Related Issues

This course explains the issues related to terrorist money laundering and the tools to combat it. It helps the user understand:

  • Money laundering network, which largely undertakes financing of the terrorist activities
  • Sources of terrorist financing
  • Various legislations to counter terrorist related funding and money laundering
 

Set of 3 interactive Job Aids
  • Exercises
  • Legislations
  • Case studies
For more information, please visit:

www.prmia.org