The FATF 40 Recommendations are the globally recognized standards for combatting money laundering, terrorist financing and proliferation of weapons of mass destruction. These standards act as a guidance to countries on how to design their AML framework. All anti-money laundering professionals need to obtain an understanding of these standards which is the basis of most national regulations.
This course aims to describe each of the FATF 40 recommendations, taking also into consideration their interpretive notes. The course aims in providing anti-money laundering professionals with an understanding of the FATF 40 recommendations which set up the requirements for an effective national AML regulatory framework, the requirements for an effective AML program of an entity, explain how to treat high risk customers and the national and international cooperation requirements of competent authorities and law enforcement agencies.
The course is split into the following sections:
Section 1: AML/CFT Policies, Money Laundering, Terrorist Financing and financing of proliferation of weapons of mass destruction
- Assessing risks and applying a risk-based approach
- Obligations and decisions for financial institutions and DNFBPs
- National Cooperation and Coordination
- Money laundering offence
- Confiscation and provisional measures
- Terrorist financing offence and proliferation of weapons of mass destruction
- Targeted financial sanctions related to terrorism and proliferation
- Non-Profit Organizations (NPOs)
- NPOs risk-based supervision
- Financial Institution Secrecy Laws
Section 2: Preventive Measures
- Customer Due Diligence (CDD)
- CDD – Legal Persons and Arrangements
- CDD – Beneficiaries of life insurance policies
- CDD – Risk-based approach
- Low and higher risk indicators
- Enhanced Due Diligence
- Simplified Due Diligence
Section 3: Additional measures for specific customers and activities
- Politically Exposed Persons (PEPs)
- Correspondent banking
- Money or value transfer services
- New technologies
- Cross-border and domestic wire transfers
- Reliance on third parties
- Internal controls and foreign branches and subsidiaries
- Higher risk countries
- Reporting suspicious transactions
- Tipping off and confidentiality
- DNFBPs measures
- Beneficial ownership information register
Section 4: Powers and responsibilities of Competent Authorities and other institutional measures and International Cooperation
- Regulation and supervision and powers of supervisors
- Financial Intelligence Units
- Responsibilities and powers of law enforcement and investigative authorities
- Cash couriers
- General requirements/Statistics/Guidance and Feedback/Sanctions
- International Instruments
- Mutual legal assistance
- Other forms of international cooperation
This course may take up to 5 hours to be completed. However, actual study time differs as each learner uses their own training pace.
The course is addressed to:
This course is addressed to all individuals who practice Anti-Money Laundering such as:
- Compliance/AML Managers in Banks, Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers, Accountants, Auditors and Lawyers.
- Employees of Investment Firms, Investment Funds, ASPs, Trust Service Corporate Providers, Accountants, Auditors and Law Firms involved in KYC/CDD
- Internal Auditors
- Senior managers
It is also suitable to professionals pursuing regulatory CPD in Anti-Money Laundering.
The course is offered fully online using a self-paced approach. The learning units consist of power point presentations. Learners may start, stop and resume their training at any time.
At the end of the course, participants take a Quiz to complete the course and earn a Certificate of Completion once the Quiz has been passed successfully.
Accreditation and CPD Recognition
The course may be accredited by regulators and other bodies for 5 CPD Units that require CPD training in financial regulation. The course may be also approved for up to 5 CPD Units by institutions that approve general financial and AML training, such as the CISI, ICA and ACAMS.
Eligibility criteria and CPD Units are verified directly by your association or other bodies in which you hold membership.
Registration and Access
To register to this course, click on the Take this course button to pay online and receive your access instantly. If you are purchasing this course on behalf of others, please be advised that you will need to create or use their personal profile before finalizing your payment.
Access to the course is valid for 60 days.
If you wish to receive an invoice instead of paying online, please Contact us by email. Talk to us for our special Corporate Group rates.
Anna Stylianou has more than 20 years’ experience in the financial industry. She has long-term experience in the retail banking, and has also worked as a Compliance, Anti-money laundering compliance and as a Senior manager in regulated entities.
She is an AML trainer. She has a BSc and Associateship from the London Institute of Banking and Finance, and a Certified Fraud Examiner (CFE). She is also certified with the Advanced and AML qualification from the Cyprus Security and Exchange Commission (CySEC).
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