Anti-Money Laundering (AML) Best Practices & Compliance
Implementing Effective Controls, Detection Mechanisms, and Risk-Based Strategies for AML Success
Course Schedule
| Venue (InHouse) | Fees |
|---|---|
| At Your Organization Premises | Ask For The Quotation |
Course Introduction
Money laundering remains a global concern with increasing regulatory scrutiny. This intensive 5-day training provides a comprehensive understanding of Anti-Money Laundering (AML) regulations, compliance frameworks, and best practices. The course aims to empower professionals with the practical tools and strategies needed to prevent, detect, and report money laundering activities effectively.
Participants will engage in in-depth briefings, case studies, and simulation workshops that address real-world compliance challenges, risk-based approaches, and the integration of AML systems into financial institutions’ core operations. This program reflects the latest in global standards, including FATF, OFAC, and EU directives.
Course Objectives
By the end of this course, participants will be able to:
- Understand key international AML regulations and their application
- Design and implement effective risk-based AML frameworks
- Apply best practices in Know Your Customer (KYC) and Customer Due Diligence (CDD)
- Detect red flags and report suspicious activities accurately
- Build an internal culture of compliance and accountability
- Evaluate the effectiveness of AML programs and systems
Key Benefits of Attending
- Stay compliant with global AML regulations and updates
- Learn to detect and respond to evolving financial crime typologies
- Implement strong KYC, CDD, and EDD practices
- Improve the quality and effectiveness of SAR/STR reporting
- Prepare for internal and external audits with confidence
Intended Audience
This program is designed for:
- AML Compliance Officers and MLROs
- Bankers and Financial Institution Staff
- Legal and Risk Professionals
- Internal Auditors and Investigators
- FinTech and Virtual Asset Service Provider (VASP) Compliance Teams
- Regulatory and Enforcement Agency Personnel
Individual Benefits
Key competencies that will be developed include:
- Expertise in AML compliance and governance
- Strong grasp of global and local regulatory frameworks
- Analytical skills for transaction monitoring and risk profiling
- Proficiency in handling high-risk clients and reporting obligations
- Capability to design and assess internal AML controls
Organization Benefits
Upon completing the training course, participants will demonstrate:
- Increased institutional readiness for regulatory audits
- Reduced financial and reputational risk due to non-compliance
- Improved operational efficiency of AML systems and controls
- Stronger risk-based approach to customer onboarding and monitoring
- Enhanced interdepartmental alignment in compliance procedures
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
- Strategy Briefings – Insight into AML frameworks, typologies, and risk-based compliance
- Case Studies – Real-world scenarios of AML failings and successful mitigation
- Workshops – Practical sessions on risk scoring, customer risk assessments, and KYC reviews
- Peer Exchange – Interactive discussions on compliance challenges and industry trends
- Tools – Ready-to-use AML checklists, SAR templates, and risk-assessment matrices
Course Outline
DETAILED 5-DAY COURSE OUTLINE (Customizable)
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Understanding the AML Framework and Global Regulatory Expectations
- Module 1: Foundations of Money Laundering (07:30 – 09:30)
- Key stages: Placement, Layering, Integration
- AML vs. CTF: Similarities and differences
- The impact of financial crime on institutions and economies
- Module 2: Global AML Landscape (09:45 – 11:15)
- FATF recommendations and mutual evaluations
- Key provisions of the USA PATRIOT Act and EU Directives
- The role of international cooperation in AML enforcement
- Module 3: AML Compliance Program Essentials (11:30 – 01:00)
- Designing an effective AML compliance program
- Governance, roles, and responsibilities
- Training, escalation protocols, and oversight mechanisms
Day 2: Risk-Based Approach and Customer Due Diligence
- Module 1: Risk-Based AML Methodology (07:30 – 09:30)
- Customer, product, geography, and channel risk
- Risk rating models and prioritization of controls
- Integrating risk management into daily operations
- Module 2: KYC/CDD/EDD Procedures (09:45 – 11:15)
- Onboarding protocols and identity verification
- Ultimate Beneficial Ownership (UBO) and high-risk clients
- Enhanced due diligence triggers and actions
- Module 3: Periodic Reviews and Customer Monitoring (11:30 – 01:00)
- Triggers for KYC refresh and profile updates
- Automated systems vs. manual processes
- Case study: Failure in periodic review – lessons learned
Day 3: Transaction Monitoring, Typologies & STRs
- Module 1: Setting up Effective Transaction Monitoring (07:30 – 09:30)
- Key components of monitoring systems
- Calibrating rules and reducing false positives
- Reviewing alert trends and escalation workflows
- Module 2: Identifying Red Flags and Suspicious Activities (09:45 – 11:15)
- Common laundering patterns and industry-specific risks
- Behavioral indicators and transaction structuring
- The role of front-line staff in early detection
- Module 3: Suspicious Transaction Reports (STRs) (11:30 – 01:00)
- Legal thresholds and confidentiality principles
- Report drafting and regulator expectations
- Timeline management and follow-up tracking
Day 4: Screening, Sanctions Compliance & Emerging Challenges
- Module 1: Sanctions Regimes and Watchlists (07:30 – 09:30)
- OFAC, EU, UN, and local lists
- Difference between sanctions and AML obligations
- Examples of global enforcement actions
- Module 2: Screening Technologies and False Positive Management (09:45 – 11:15)
- List matching methodologies and escalation frameworks
- Tuning screening systems and audit trails
- Dealing with name similarities and alerts
- Module 3: New Threats: Cryptocurrencies and Digital Channels (11:30 – 01:00)
- AML risks in digital banking and virtual assets
- FATF’s Travel Rule and its implementation
- AML risk management in FinTech environments
Day 5: Auditing, Testing & Institutional Strengthening
- Module 1: Internal Controls and Independent Testing (07:30 – 09:30)
- Key elements of internal AML control reviews
- Preparing for audits and regulatory inspections
- Documentation and remediation tracking
- Module 2: Evaluating AML Program Effectiveness (09:45 – 11:15)
- KPIs for compliance measurement
- Risk assessment scoring vs. residual risk evaluation
- Reporting to senior management and the board
- Module 3: Group Simulation & Program Design Exercise (11:30 – 01:00)
- Team exercise to create a mock AML policy
- Interactive case studies with simulated alerts
- Peer reviews and group feedback
Certification
Participants will receive a Certificate of Completion in AML Best Practices & Compliance, affirming their expertise in global anti-money laundering standards, regulatory alignment, and practical application of AML frameworks within financial and non-financial institutions.