Anti Money Laundering
The Salt Compliance Anti-Money Laundering course trains financial institutions and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Rates of money laundering are on the rise, with the World Bank and IMF estimating that around US$3 trillion is laundered worldwide every year. In response, legislatures, financial regulators and prosecutors are imposing tougher AML rules and harsher penalties for compliance failures.
We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to federal anti-money laundering regulators such as FinCEN.
The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks and give specific understanding of key legislative and regulatory obligations, including those imposed by the Bank Secrecy Act and the PATRIOT Act.
Who is this training for?
The course should be completed by all employees of financial institutions (including those involved in compliance and risk management functions) that offer services such as:
• providing bank account-related services
• deposits and loans
• exchanging currencies
• issuing debit and stored value cards
• issuing securities and derivatives
|Module 1:||Introduction to money laundering|
|Module 2:||The risk of money laundering|
|Module 3:||KYC obligations|
|Module 4:||Suspicious and threshold transactions|
|Module 5:||Terrorist financing|