Training

Training: Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)

At Eminent Accountants & Global Compliance Ltd, we offer comprehensive training programs designed to equip businesses and individuals with the knowledge and skills to comply with Anti-Money Laundering (AML) regulations and effectively combat the financing of terrorism (CFT).

Training Content Overview:

1. Introduction to AML and CFT

   • Understanding money laundering and terrorist financing: definitions, objectives, and processes.
   • Overview of international AML/CFT frameworks and key regulatory bodies (e.g., FATF, FCA, and PRA).

2. Legal and Regulatory Framework

   • UK and EU laws governing AML/CFT.
   • Understanding the Financial Action Task Force (FATF) recommendations.
   • Key regulations, including the UK Money Laundering Regulations (MLR) and Sanctions and Anti-Terrorism laws.

3. Risk Assessment and Risk-Based Approach

   • Identifying and assessing money laundering and terrorism financing risks.
   • Developing and implementing a risk-based approach to AML/CFT compliance.
   • Case studies: real-world risk assessments.

4. Customer Due Diligence (CDD)

   • Key principles and requirements for CDD.
   • Identifying and verifying customers, including enhanced due diligence for high-risk clients.
   • Ongoing monitoring and the importance of accurate record-keeping.

5. Suspicious Activity Reporting (SAR)

   • Recognizing suspicious activities and transactions.
   • How to file a SAR: the process, legal obligations, and confidentiality issues.
   • Red flags and indicators of potential money laundering or terrorist financing.

6. Internal Policies and Procedures

   • Developing and maintaining effective AML/CFT policies.
   • Employee training and the importance of a compliance culture.
   • Roles and responsibilities of MLROs (Money Laundering Reporting Officers).

7. Compliance Programs and Audits

   • How to design and implement an effective compliance program.
   • Best practices for internal audits and independent reviews.
   • Ensuring continuous compliance and updating procedures.

8. Sanctions and Penalties

   • Overview of penalties for non-compliance with AML/CFT laws.
   • Case studies: enforcement actions and lessons learned from regulatory breaches.
   • Impact of sanctions on businesses and financial institutions.

9. Emerging Trends and Technologies

   • New threats and challenges in the AML/CFT landscape.
   • The role of technology in enhancing AML/CFT efforts (e.g., AI, blockchain).
   • Future developments and ongoing updates in regulations.

Target Audience:

• Compliance officers
• Financial institutions and money service businesses
• Legal professionals
• MLROs and AML/CFT professionals
• Businesses subject to AML regulations

Training Duration:

• Full-day or multi-day workshops (customizable based on client needs)

Certification: Upon successful completion of the training, participants will receive a certificate verifying their knowledge and compliance with AML/CFT regulations.

Our AML/CFT training ensures that your business meets regulatory requirements and minimizes the risk of financial crime. Contact us to arrange training for your team or for further information on how we can tailor our training to your business needs.