AML Training – Anti-money laundering Course with ABAC™

Our Anti-Money Laundering (AML) training course is designed to raise your employees’ awareness of money laundering in order to confidently identify and report signs of money laundering activity in your business.

As a global business entity with a range of subsidiary partner operations that cross several distinct business sectors (including but not limited to telecommunication, financial services, petrochemicals, energy production/ distribution, chemicals, fertilisers and food), your organisation needs to recognise that it is targeted by hostile entities seeking to take advantage of your market presence.

One of the key challenges is corporate finance’s control and movement and the need to ensure that effective Anti-Money Laundering (AML Framework) procedures and practices are in place. Refusal to accept the risks and your organisation is openly exposed to:

  • corporate fraud;
  • corruption;
  • exploitation from the theft of money and other assets.
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A practical, introductory-level course that will give you a solid understanding of core money laundering and terrorist financing risks.  Suitable for operational or front-line staff as well as those considering embarking on a new career in AML as a stepping-stone for study at a higher level.

Why should you pursue a training in AML?

You need to comply with national, regional, and international legislative frameworks such as:

  • Section 453 of the 2017 Companies Act (Pakistan); and
  • UK’s Proceeds of Crime Act (POCA) 2000).

More fundamentally, money that is unknowingly, unwittingly or (in the case of fraud and corruption) even consciously ‘laundered’ through the organisation could ultimately support, finance and promote international terrorism and the drugs trade. An effective AML framework is a testament to your organisation position against crime. As global corporate citizens aware of their responsibilities, any international organisation must comprehensively address these concerns and implement policies, procedures, and associated risk assessment mechanisms.

To have insufficient controls and be charged with engaging in money laundering can have any of the following negative consequences:

  • Damaged corporate reputations & brand devaluation
  • Eroding employee morale
  • Potential consumer boycotts
  • Negative investor perceptions
  • Possible legal action
  • Fines & potential jail terms for directors
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Who should attend?

  • Staff with specific anti money laundering duties
  • All staff working in financial services who want an introduction to anti money laundering
  • Anyone who aspires to a career in anti money laundering or fraud prevention
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Explain and Apply (Learning Objectives)

On completion of this ABAC course, you should be able to:

  • Understand what the Anti Money Laundering Regulations are: understand policies, procedures and controls
  • Understanding Money Laundering, Terrorist Financing and Sanctions
  • Recognise the importance of conducting a risk assessment
  • Vulnerabilities of financial institutions to money laundering and terrorist financing
  • Management obligations and the risk-based approach to money laundering and terrorist financing
  • Adopt appropriate internal controls
  • Identify Politically Exposed Persons (PEPs)
  • Recognise the importance of keeping adequate records
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Course format

  • Study in your own time and at your own pace
  • Course can be completed in as little as 4 weeks but you will have access for up to 3 months
  • Assessed by a 1 hour online multiple-choice exam
  • Your results are available immediately
  • Downloadable certificate to demonstrate your achievement
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Course Structure

Our ABAC specialist anti-money laundering training course is designed to raise awareness and introduce money laundering as a genuine risk to employees. The course is structured as follows:

  • Legislation, Responsibility, and Policy
    • Introduction to a number of legislation. Understanding AML legislation enables you to identify, report and prevent money laundering activities. You will also learn the roles responsibilities and policies that organisations must have to comply with.
  • What is Money Laundering?
    • Understand how money laundering can occur and explore what constitutes as criminal property, the scenarios n which a person could benefit from proceeds of crime, directly or indirectly, and the tactic used by criminals to deposit proceeds of crime into the financial system.
  • Identifying Unusual Activity
    • Spot the signs of money laundering, learn the signs to look out for when dealing with both new and existing customer. Understand the common red flags to look out for to identify unusual activity associated with laundered money.
  • Reporting Unusual Activity
    • Reporting unusual activity is a legal requirement under AML legislation. Gain knowledge on  how to be suspicious of money laundering activities and how to report it correctly to avoid prosecution for inaction. Learn how to examine the various reporting activities you and other employees must take while assessing suspicious activity.
  • Accounting Red Flags
    • It’s important to look out for accounting red flags, as money laundering can often be difficult to detect at the first transaction. Employees working in accounts are the second in line of defence against money laundering activities. Learn how to spot accounting red flags and how to report your concerns with ABAC training.
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Additional Information

Enhance your knowledge and advance your career by participating in our ABAC™ AML training course!

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ABAC™ AML training can be applied to all organisations, regardless of their size, nature, or complexity of activity. ABAC™ is designed to assist in developing processes and systems that help your organisation effectively manage compliance risks and foster a system-wide culture of business integrity. Our experts are willing to assist you in the process of obtaining an ABAC™ AML credential and developing your career skills.

FAQ’s

If you have any questions that are not covered here, please get in touch.

Meet our team

What is money laundering?

Money laundering is the process of taking illegally obtained and often large sums of money and making it appear as it though it has come from legitimate sources. The money, often referred to as ‘dirty money’, is often generated through proceeds of crime such as drug trafficking and is ‘laundered’ to make it look clean.

Why is money laundering considered illegal?

Money laundering is illegal because it enables criminals to profit from crime and usually involves a number of illegal steps to take place. This includes attempts to conceal or disguise the nature, location, source, ownership, or control of the proceeds of crime. While the source of the money is what makes money laundering illegal, the act of laundering money is also illegal.

What are examples of money laundering?

  • Drug Trafficking. Drug trafficking is a cash-intensive business. …
  • International and Domestic Terrorism. For ideologically motivated terrorist groups, money is a means to an end. …
  • Embezzlement. …
  • Arms Trafficking. …
  • Other Use Cases.

What is considered as money laundering?

The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean.

What is the most common way to launder money?

  • Offshore accounts;
  • Anonymous shell accounts;
  • Money mules; and.
  • Unregulated financial services.

CONTACT OUR TEAM

Do you have questions about training? Or are you interested in learning more about our in-class training courses in your region? Meet the ABAC® team, qualified and dedicated to helping worldwide organisations to overcome business risks across the globe. We are an international team of talented compliance professionals that are shaping the future of compliance solutions industry globally. Contact us today.

Huma Khalid, Scheme Manager

e: huma.k@abacgroup.com | LinkedIn
t: +44 777 652 4355, +971 521 042 433
Dubai, United Arab Emirates

Meet our team

UK, US & EUROPE

Pakistan

INDIA, MIDDLE EAST & AFRICA REGION

Malaysia & South East Asia

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