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Do you wish to start a career in the AML industry, or do you want to hone your AML-related skills? The AML course will then provide you with a strong foundation to help you develop into a self-assured AML practitioner.

What exactly is AML (anti-money laundering)?

The system of rules, regulations, and processes aimed at identifying attempts to disguise criminal cash as lawful revenue is referred to as anti-money laundering ( AML ).  ( ML )  Money laundering aims to conceal crimes ranging from minor tax evasion and drug trafficking to governmental corruption and the funding of terrorist organisations. AML law was enacted in reaction to the expansion of the financial industry, the relaxation of international capital restrictions, and the increasing ease with which complicated chains of financial transactions could be conducted. A high-level UN group predicted annual money laundering flows at $1.6 trillion in 2020, accounting for 2.7% of global GDP.

You will gain a comprehensive grasp of AML through this course, including key ideas, practical application techniques, and in-depth expertise. If you want to improve your employment chances or start your own lucrative career, taking this AML course might be a good starting step. This AML course contains a variety of crucial details concerning AML. This AML speciality includes some of our most well-liked courses on subject matter relevant to the profession.

Why should you take this AML course?

AML procedures safeguard society’s most vulnerable citizens by fostering cultures where crime is accurate and dependable. KYC processes enable less frequent financial inclusion.

Channels into global financial institutions have become more digitised, providing additional opportunities for money launderers and fraudsters to move monies in an easier and more opaque manner. As a result, there is a market demand for intelligent, adaptable, and user-friendly AML solutions and sophisticated yet accessible electronic identity verification systems.

Because of its worldwide financial importance, the relatively free nature of its company formation regime, and the safe-haven status of its property market, UK AML efforts are especially significant.

Solid, mature economies with considerable social stability, such as the United Kingdom, would eventually draw large-scale funds from both abroad and within the country. However, the same stability that underpins such attraction is dependent on ensuring that such funds are clean. So, aside from the obvious benefits of regulatory compliance and avoiding penalties, community AML compliance benefits everyone. Investment in compliance and compliance ecosystems is an investment in consumer trust and loyalty. It can be used to maximise long-term profitability while assuring company continuity, regulatory health, and brand security.

You will understand the AML regulations in the UK and the EU by taking this AML course. It will give you a thorough understanding of the AML regulations and assist you or your company in complying with them. You or your company will be able to protect against any potential financial crime, build a strong defence against any potential money laundering or terrorist financing activity, and mitigate the risk of any financial misconduct if you have the proper understanding of AML regulations.

This Anti Money Laundering (AML) course is designed for anybody interested in learning more about Anti Money Laundering (AML) and the job prospects available in this industry. Our free online certifications for AML courses provide up-to-date knowledge to safeguard your organisation against suspicious behaviour.

This Anti Money Laundering (AML) training will expand your awareness of the job of the AML reporting officer by covering subjects ranging from terrorist financing framework to customer due diligence checks and processes. You’ll learn how to create a risk-based strategy for financial crime that can be used in any organisation and the AML policy and reporting processes.

Module 1: Introduction to Money Laundering

• What exactly is meant by “money laundering”?
• How much money is believed to be cleaned each year?
• What methods are used to clean dirty money?
• To what extent does it happen?
• What kind of implications does money laundering have for businesses?
• What kind of impact does the illegal laundering of money have on the expansion of the
• economy?
• Consequences of money laundering

Module 2: UK legislation and Regulations

• The UK anti-money laundering regime is outlined in
• Money Laundering, Terrorist Financing and Transfer of Funds (Information on the
• Payer) Regulations 2017 (MLRs)
• Criminal Finances Act 2017
• Terrorist financing legislation
• Sanctions and Anti-Money Laundering Act 2018
• The Financial Action Task Force (FATF)
• Proceeds of Crime Act 2002
• Provisions of the Act

Module 3: Anti-Money Laundering Regulation and Development

• DEVELOPMENT OF THE SUPERVISORY SYSTEM AND REGULATORY REGIME
• The Evolution of Law Enforcement
• The Evolution of the Anti-Money Laundering System
• Second-tier laws
• The Proceeds of Crime Act of 2002
• Anti-Money Laundering Initiatives in the United Kingdom and Around the World
• The Performance and Innovation Unit’s Recommendations (2000)
• Enforcement and Prosecution
• Role of the Government
• Role of the Supervisory Agency
• The UK’s Financial Intelligence Unit
• Law Enforcement and Prosecuting Authorities
• Role of the Financial Services Industry

Module 4: The Money Laundering Reporting Officer’s Responsibilities

• What is the role of a money laundering reporting officer?
• Why have an MLRO?
• Who should serve as an MLRO?
• The Function of the Money Laundering Reporting Officer
• What are an MLRO’s primary responsibilities?
• Who Can Become An MLRO?
• How to Select an MLRO
• What Happens If an ML Officer Fails: Non-Compliance Penalties

Module 5: Risk-based Approach

• What exactly is a risk-based approach?
• What is the significance of a risk-based approach to AML?
• How can I implement an AML risk-based approach?
• Innovative Solutions.
• Use of a Risk-Based Approach
• Conducting Risk Assessment
• Customer Risk Assessment
• Example of a Risk-Based Approach
• National risk assessment of money laundering and terrorist financing 2020

Module 6: Customer Due Diligence

• What is Customer Due Diligence?
• Basics of Conducting Due Diligence on a Customer
• Accordingly, here are some of the things you should do to ensure a successful CDD
• process:
• Reporting Suspicious Transactions
• What Does The Typical CDD Process Look Like?
• Enhanced Due Diligence AML Requirements
• Customers’ Due Diligence vs Enhanced Due Diligence

Module 7: Record Keeping

• What exactly is record-keeping?
• What Records Should Businesses Keep?
• Client due diligence (CDD) documentation
• Records of suspicious activity reports (SAR)
• Training records
• General records of internal AML controls
• How Do You Maintain Customer Identity and Transaction Records?
• Record-keeping Format
• If your business is registered for money laundering supervision
• Preparation and Transmission of a Report of Suspicious Activity to the National Crime
• Agency
• In the event that your company is not registered for the supervision of money laundering

Module 8: Suspicious Conduct and Transactions

• EXAMPLES OF SUSPICIOUS TRANSACTIONS 
• Mysterious Transactions
• Large Cash Transfers
• Transactions that are incompatible with the customer’s financial situation
• Unusual Account Movement
• Suspicious Conduct/ Behaviour
• Suspicious Activities and Transactions
• Using cash transactions to launder money
• Using bank accounts to launder money
• Money laundering through investing deals
• Money laundering through multinational offshore activity
• Money laundering involving workers and agents of banking institutions
• Laundering of funds through secured and unsecured loans
• Reports of Suspicious Activity
• The importance of SARs
• Who is eligible to file a SAR?
• How SARs are used

Module 9: POCA and Anti-terrorism provisions

• Proceeds of Crime Act 2002 (‘POCA’)
• Offences related to the covering up, the preparations, and the possession
• The failure to disclose offence for the ‘regulated sector
• Tipping off offence
• Anti-terrorism provisions
• Developments