Fighting money laundering and terrorist financing is a priority for the international community; since these financial crimes threaten the integrity and stability of the financial system and the economy in general, they can also affect the integrity and stability of financial institutions, discourage foreign investment, and distort international flows. As a result, the affected country experiences dire financial instability and poor economic performance. This program deeply explains AML & CTF standards and respective risk management in financial institutions. The program also explains pertinent local and international legislations and leading practices, as well as, the preparation and implementation of ML and TF risk-based programs, including “Know Your Customer” and “Customer Due Diligence” requirements.
At the end of the training program, the participant should be able to:
1 1. Explanation of the nature and risks of money laundering
2 2. Explain the nature and risks of terrorist financing
3 3. The differences and similarities between money laundering and terrorist financing
4 4. Misconceptions about money laundering and combating it
5 5. Recent patterns in money laundering and terrorist financing
1 1. Financial Action Group (FATF)
2 2. Basel Committee on Banking Supervision
3 3. Wolfsberg Group
4 4. The Egmont Group of Financial Intelligence Units.
5 5. EU directives
6 6. The World Bank and the International Monetary Fund
7 7. The US National Anti-Terrorism Act
8 8. Initiatives of regional organizations in combating money laundering and terrorist financing
1 1. Anti-money laundering system
2 2. Executive Regulations of the Anti-Money Laundering System
3 3. Anti-terror crime and financing system
4 4. Executive Regulations for Combating Terrorism Crimes and Its Financing
5 5. Anti-Money Laundering and Terrorist Financing Guide issued by the Central Bank of Saudi Arabia
6 6. Guidelines issued by the Ministry of Justice
7 7. The guide issued by the Ministry of Commerce
8 8. The guide issued by the General Authority for Endowments
1 1. Objectives of the control program
2 2. How does risk assessment work?
3 3. Know Your Customer Requirements
4 4. Due diligence and strict due diligence procedures and requirements
5 5. Examples of high-risk accounts and businesses
6 6. International ban lists and their importance
1 1. What are suspicious operations?
2 2. The difference between suspicious and unusual operations
3 3. How are suspicious processes detected?
4 4. Role of Anti-Money Laundering Units
Not Available
Names of the training programs that are integrated (enriched) with the training program:
Names of the training programs that after the training program:
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