This e-Learning course is being conducted jointly by Agence pour la coopération et le développement - Banques Populaires (ABPCD) and UNITAR. The course is mainly designed to present the stakes of an Anti-Money Laundering and Counter-Financing Terrorism (AML/CFT) Strategy for Financial Institutions and their staff. It aims at satisfying the needs for these persons to understand the international standards, obligations and offenses, and the risks related to Money Laundering and Terrorism Financing (ML/TF). This fundamental course will give a global overview of the ML/TF risk based approach, including definitions, typologies, financial institutions' obligations and international and specific legal framework. It will focus, but not exclusively, on ML/TF identification, ML/TF risk assessment and setting up practical and effective AML/CFT strategy and its audit.
At the end of this course, the participants should be able to:
- Define Money Laundering and financing of terrorism, their stages and their consequences on economy;
- Analyze ML/TF operations and the methods of money-laundering and terrorism financing through the financial sector / Detect ML/TF “red flags”;
- Understand the essentials of international standards and US-specific AML/CFT law and regulations;
- Know the range and the contents of the Customer Due Diligence’s process and related obligations;
- Be able to report suspicion, internally and externally to the financial institutional;
- Organize internal training and internal audit of the financial institution's AML/CFT system; and
- Develop the framework of an institutional strategy, describe the key components of an AML/CTF internal control and monitoring system and define the role of the AML/CFT compliance officer.
The course consists of the following lessons:
- Preliminary Lesson: Money Laundering and Terrorism Financing
- Lesson One, part A: The AML/CFT legal environment
- Lesson One, part B: The AML/CFT legal environment
- Lesson Two: Typologies of Money Laundering and Terrorism Financing
- Lesson Three: The US AML/CFT legal environment
- Lesson Four: Managing the AML/CFT Risk Based Approach
- Lesson Five: Building an AML/CFT Institutional Strategy
- Lesson Six, part A: ML/TF risk management / Customer Due Diligence
- Lesson Six, part B: ML/TF risk management / Monitoring Activities
- Lesson Seven: Reporting Suspicion (Front office)
- Lesson Eight: Reporting Suspicion (AML/TF Staff; MLRO)
- Lesson Nine: Record keeping
- Lesson Ten: Training (MLRO; Compliance Officer)
- Lesson Eleven, part A: AML/CFT Audit
- Lesson Eleven, part B: AML/CFT Audit in practice
In order to ensure the best possible outreach, the course will be delivered through e-learning. ABPCD and UNITAR will combine self-learning with assessments and online discussions. The goal is to achieve the learning objectives. The participants should follow a minimum of 2 lessons per week. At the end of each lesson, the participant will have to answer a certain number of self-assessment questions related to the lesson he has followed. It is necessary to pass each test in order to get the following lesson.
The intended audience includes professionals related to financial institutions from developing and transition countries. This includes practicing compliance officers, money laundering reporting officers risk managers and internal controllers, senior managers, auditors and professionals from public and private finance-related institutions (e.g. members of local authorities and other government agencies) desiring an accessible, but thorough, introduction to the AML/CFT matters and stakes.
A certificate of completion will be issued by ABPCD and UNITAR to all participants who complete the course-related assignments and assessments successfully.