This course provides a comprehensive and practical analysis of Money Laundering schemes, Anti-Money Laundering legislation, and counter-measure techniques and implementation. Participants will learn to understand the complexities associated with the prevention and the protection of their organizations. They will cover different types of schemes, the methods available to prove income, what records are required, how to analyze them, and how to identify leads.
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.
Training Course: The Full Programme of Anti-Money Laundering (AML)
A comprehensive course on AML, KYC and all you need to monitor fraud
