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Jadarat
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(4.0/ 5) 5 Reviews
Anti-money laundering and terrorist financing threats laws and regulations have been enacted to enhance the ability of financial institutions to prevent such threats. The program aims to prepare the employees of exchange and transfer centers operating in the Saudi market to deal with these threats and know ways to combat them so that they can perform their tasks according to the standards set by the system.
(4.0/ 5)
5 Learner Rating
Anti-money laundering and terrorist financing threats laws and regulations have been enacted to enhance the ability of financial institutions to prevent such threats. The program aims to prepare the employees of exchange and transfer centers operating in the Saudi market to deal with these threats and know ways to combat them so that they can perform their tasks according to the standards set by the system.
Banking
+3
Compliance and Anti-Financial Crimes
Not Exist
Lecture
Case Studies +2
Lecture
Case Studies
Dialogue Teams
Exercises and assignments
Pre Assessment
Post Assessment
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+1-
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This provides you with the opportunity to select the available times that suit you best for participation in our program. These times represent slots during which we are ready to welcome you and provide assistance and guidance.
In Class Training-Online Training
The structure of the banking sector in Saudi Arabia
General features of the foreign Exchange (FX) and money transfer centers in KSA
FX and money transfer centers' Products and services in Saudi Arabia
In Class Training-Online Training
Defining AML, CFT and sanctions
Financial crime cycle
AML and CTF importance
In Class Training-Online Training
Money laundering and terrorist financing operations
Methods (patterns) used in money laundering operations.
Risks and negative effects of money laundering
Operations suspected of involving money laundering or terrorist financing
The role of internal control in protecting FX and Money Transfer Centers from money laundering risks.
Saudi Arabia initiatives in combating money laundering and terrorist financing
In Class Training-Online Training
The relevant laws and regulations
Penalties for getting it wrong
Impact on Financial Institution
In Class Training-Online Training
Internal controls using risk-based approach
Customer due diligence
Ultimate beneficial owners, source of wealth and funds
Politically exposed persons
Sanctions risk
Ongoing monitoring and record keeping
Influence on organization operations and structure
In Class Training-Online Training
When should you be suspicious?
Identifying and reporting suspicions
Acquiring knowledge of the structure of the banking system, exchange and transfer centers operating in the Saudi market, FX products and money transfers, to raise the level of his/her knowledge comprehensiveness of sector relevant parts
Understand the nature of money laundering and terrorist financing risks facing foreign exchange and money transfer centers
Become familiar with the related key legislation and regulations governing money laundering and terrorist financing to enable him/her to perform their duties in accordance with the set standards and measures
Be aware of the key risks of money laundry and common practices in order to support his handling them in accordance with the supervisory practices in force within the Kingdom that are based on best practices and global regulations
Understand the responsibilities of the exchange and transfer centers’ employees and their role within the regulatory framework and the effects of non-compliance
Become familiar with the mechanism required to manage the risks of money laundering and terrorist financing, reporting suspicious activities and continuous monitoring and documentation
