The Full Programme of Anti-Money Laundering (AML)

Introduction

Course Objectives

• Detect and prevent Money Laundering.
• Define Money Laundering and its cycle.
• Identify how Money Laundering can be committed.
• Analyze financial records and identify possible leads.
• Apply methods to prove income or funds from unknown sources.

Course Outlines

Day 1

Advanced approaches to Anti-money laundering

•  The risk-based approach of anti-money laundering.
•  Methods of money laundering through financial, production, and service institutions.
•  Customer and Entity Risks.
•  Regional and Geographical Risks.
•  logistical risks.
•  Risks of services and products.
•  Technical and organizational risks.
•  Money laundering risk management strategies.
•  The responsibility approach and the role of compliance management of anti-money laundering.
•  Continuous Improvement Approach.

Day 2

Money Laundering schemes

• Nominee scheme.
• Business front scheme.
• Banking scheme.
• Banking-business combination.
• Smurf and structured transactions.
• Shell companies.
• Loan-back schemes.
• Invoice scams.
• Buy-backs.
• Examples of money laundering schemes.

Day 3

Identifying indicators of illegal activities in bank records

• How indicators are developed.
• How indicators can be used.
• Indicator examples.
• Abnormal activity in accounts.
• Tips and pitfalls.

Day 4

Methods of proving income

• Analyzing financial records for leads.
• Using books and records in a financial case.
• Analyzing the balance sheet.
• Analyzing the income statement.
• Indirect methods: net worth and bank deposits.
• Direct methods of proof.
• The Capone organization.

Day 5

Legislation and legal procedures

•  An overview of the international and Arab laws related to anti-money laundering.
•  The role of Anti-Money Laundering Authority in organizations.
•  The role of financial management and auditor's reports.
•  Methods for detecting tax evasion or non-compliance.
•  Investigation Procedures.
•  Studying the documents and files of the suspicious operation.
•  Subpoena, inspection, and issuance of relevant reports.
•  Conclusion of the program.