Essentials of Anti-Money Laundering

Essentials of Anti-Money Laundering Training

From December 2008 additional requirements have come into effect for a range of designated service providers to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act. This course provides a jargon-free explanation of the legislation and the new obligations surrounding Anti-money laundering/counter terrorism financing (AML/CTF). If you are involved in a financial services business, or if you provide services to financial services organisations, AML/CTF training is an essential part of your staff training obligations. This course looks at the reasons AML/CTF laws were introduced, why they are important, and staff need to do to comply with their legal obligations.

What the course covers

The Essentials of Anti-Money Laundering course covers the following major subject areas:

  • Introduction to the AML/CTF laws
  • AML/CTF laws in an international context
  • The AML/CTF regulators
  • What entities are covered by AML/CTF laws
  • How the laws affect employees
  • The risk-based approach to AML/CTF
  • Overview of the obligations on designated services
  • Customer due diligence
  • Reporting obligations
  • Requirements for record keeping
  • Maintaining an AML/CTF program
  • What happens if organisations fail to comply

Course structure and delivery

This course is delivered as an online self-paced training module. The module consists of 36 screens of content followed by an assessment of 10 randomised questions. Participants must answer all questions correctly in order to complete the course, and may review content and reattempt the assessment until it has been passed.
Most people will complete the course in 30-40 minutes. After completion, a personalised certificate can be printed.

About our Essentials series of courses

MCQ International offers a Comprehensive series and an Essentials series of courses. The Essentials series is ideal for general staff who require compliance training without investing too much time. Essentials courses can usually be completed in around 30 minutes, while our Comprehensive courses may take up to 120 minutes. For personnel who require a higher level of training (e.g. supervisors or at-risk groups) the Comprehensive series may be more suitable.

Additional unique tools and features

MCQ International’s compliance courses are supported by the flexible and powerful Ensignia® OCLMS platform. The course content also includes many unique features and customisation options that no other vendor can match.

 

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