Course Summary
This comprehensive online course is designed to introduce a candidate to the fundamentals of anti-money laundering (AML) and the AML laws applicable in the United Arab Emirates. Additionally, this course will offer candidates an insight into the AML transaction monitoring process, along with opportunities to complete case studies aimed at developing their case investigative skills.
Furthermore, this course will provide you with the necessary foundation to pursue the prestigious CAMS certification, which is considered the gold standard in Anti-Money Laundering certifications and recognized by financial institutions and regulators around the world.
Course Structure
Module 1 - Methods of money laundering
1.1 - What is money laundering (ML) and terrorist financing (TF)?1.2 - History of money laundering
1.3 - The stages of money laundering
1.4 - Channels and methods used in money laundering
Module 2 - Risks of money laundering
2.2 - Why should we care as bankers?
2.3 - Business sectors vulnerable to money laundering
2.4 - High-risk bank products and services vulnerable to money laundering
Module 3 - Global regulations of AML and combatting terrorist financing (CFT)
3.1 - Financial Action Task Force (FATF) - 40 Recommendations3.2 - USA PATRIOT Act and OFAC
3.3 - Basel Committee on Banking Supervision
3.4 - European Union (EU) Directives on money laundering
3.5 - Egmont Group of Financial Intelligence Units
3.6 - Wolfsberg Group
Module 4 - AML Laws Applicable in UAE
4.2 - History of UAE’s AML Laws
4.3 - Federal Law No (20) of 2018
4.4 - Administrative and Criminal Penalties for Non-compliance
4.5 - Latest Initiatives and Considerations by UAE
Module 5 - Submission of Suspicious Transaction Reports (STR) to the FIU
5.2 - Transaction monitoring process
5.3 - Red flags/Suspicious transactions
5.4 - AML case investigation process
Case Investigation Write-up 1
Case Investigation Write-up 2
5.5 - Submission of Suspicious Transaction Reports (STRs) to the FIU
Final Test and Assignment
- Assignment: Case study to assess the student’s AML investigation and case write-up skills