The prevention of money laundering is a key focus of regulatory authorities in developed countries around the world. Money laundering regulations are designed to inhibit the movement of funds derived from criminal activity and to restrict the availability of money to fund terrorist activities. This training program will detail the historical context of AML regulations, best practices to implement an effective AML program, and reporting guidelines for the same.
Why Should You Attend:
In this session, participants will learn KYC/AML best practices and guidelines which focus on customer acceptance policy, identification procedures, transaction monitoring, and risk management. In brief, anyone who wants to open an account with you will undergo the same due diligence as a client opening a regular bank account. The course will detail identification processes which include:- Scrutiny of beneficial owners
- Monitoring and looking for complex, unusually large transactions and set thresholds for transaction limits if required
- Creating risk profiles for all customers, based on low, medium and high categories
- Using information derived from their identity, social/financial status, nature of business activity, and information about each clients’ business and their location
Learning Objectives:
- Knowledge about the roles and responsibilities of an efficient, well rounded AML program.
- An in depth look at regulations and best practices.
Areas Covered in the Webinar:
- Historical context of the AML regulations
- Expectations in BSA/AML programs
- How to implement an effective program
- Best practices of an AML program
- Reporting guidelines
- Ongoing monitoring and training programs
- Examples of high risk profiles
Who Will Benefit:
- Prepaid service providers
- Pay day lenders
- Money service providers
- Regulatory compliance associates and managers
- Independent sales organizations
- CFOs and presidents of payment service providers
- Managers of payment service providers
Course Provider
Armen Khachadourian,
