Program Brief
Laws and regulations for combating money laundering and terrorist financing have been enacted at the international and local levels, to enhance the ability of financial institutions to prevent the occurrence of these financial crimes. This program explains the standards related to combating money laundering and terrorist financing, as well as local and international legislation and relevant best practices. It also shows the role of the board of directors and the executive management in financial and non-financial institutions and non-profit organizations in supporting the anti-money laundering and terrorist financing program.
Sectors
Program Topic
- Compliance and Anti-Financial Crimes
Program Goals
At the end of the training program, the participant should be able to:
- Understand the concept of money laundering and terrorist financing activities, for the purpose of due diligence.
- Recognize the various risks of money laundering and terrorist financing, as well as, the penalties and disciplinary actions relating to breaches.
- Become familiar with the AML and CTF requirements relating to the activities of financial and non-financial organizations to comply with and apply it.
- Recognize the roles and responsibilities of the Board of Directors and the executive management in support of the AML and CTF programs in financial and non-financial organizations and not-for-profit organizations.
- Become familiar with the most critical AML and CTF laws, regulations, directives, international standards, and leading practices to ensure its effective application.
- Acquire knowledge and skills to efficiently assess AML/CFT program.
Jadarat
Program Agenda
Module 1: An Introduction to Money Laundering and Terrorist Financing and Pertinent Risks
1 Money laundering concept
2 Money laundering risks
3 The concept of terrorism, its financing and its risks
4 The differences and similarities between money laundering and terrorist financing
5 Realistic examples of misuse of financial and non-financial institutions in money laundering and terrorist financing operations
6 Know Your Customer Requirements
Module 2: AML and CTF International Efforts and Initiatives
1 Financial Action Group (FATF)
2 Basel Committee on Banking Supervision
3 Wolfsberg Group
4 The Egmont Group of Financial Intelligence Units.
5 EU directives
6 The World Bank and the International Monetary Fund
7 The US National Anti-Terrorism Act
8 Initiatives of regional organizations in combating money laundering and terrorist financing
Module 1: KSA’s AML and CTF Legislations
1 Anti-money laundering system
2 Executive Regulations of the Anti-Money Laundering System
3 Anti-terror crime and financing system
4 Executive Regulations for Combating Terrorism Crimes and Financing Law
5 Anti-Money Laundering and Terrorist Financing Guide issued by the Central Bank of Saudi Arabia
6 Guidelines issued by the Ministry of Justice
7 The guide issued by the Ministry of Commerce
8 The guide issued by the General Authority of Awqaf
Module 2: The Roles and Responsibilities of the Board of Directors and the Executive Management Relating to the AML and CTF Program
1 Hiring a Compliance Officer
2 Provide the right resources
3 Adoption of the relevant policies
4 Ensure that the software is tested (independent audit of the software)
5 Program evaluation
Program Requirements
Not Available
Program Path
Names of the training programs that are integrated (enriched) with the training program:
- Not Available
Names of the training programs that after the training program:
- Not Available
Program Method
- Lecture
- Case Studies
- Dialogue Teams
- Exercises and assignments
Evaluation Method
- Pre Exam
- Post Exam
Training Type
- In Class Training
- Online Training
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