Certified Anti-Money Laundering Specialist (CAMS)

About the Course

Due to the increasing complexity of the law, the demand for AML/CFT professionals is increasing daily. Since the spread of COVID-19, financial transactions have changed fundamentally. Face-to-face transactions and user convenience have improved, as have virtual money laundering, online fraud, and obfuscation of genuine beneficiaries. Additionally, businesses will have to adopt entirely new types of technology, such as e-KYC, machine learning, and automated risk assessment. In the fields of combating money laundering and combating the financing of terrorism, innovations are rapidly being developed to increase efficiency. At the same time, the organisation needs more money laundering experts to understand these challenges. Therefore, the demand for anti-money laundering professionals will continue to grow.

This 5-day interactive Certified Anti-Money Laundering Specialist training course educates the delegates on the risks and methods associated with money laundering and terrorist financing, as well as compliance standards and sanctions compliance programs. Combat, enforce, and support donations—investigation procedure. Once certified, individuals with CAMS certifications pursue careers in the public and private sectors. Given the financial sector’s role in preventing money laundering, many credential holders work in financial services. Accounting firms like the “Big Four” also value individuals with CAMS certifications, especially in forensic accounting work.

Core Objectives

The delegates will achieve the following objectives:

• Demonstrate a commitment to a standardised, risk-based approach
• Know how to do good due diligence
• Foster a culture of compliance from the top down
• Understand how to meet the mandatory AML training requirements
• Reward and retain top talent
• Protect your company more effectively from financial and reputational damage.
• Successful transaction monitoring
• Integration into international mechanisms to combat financial crime

Training Approach

This training course combines theory and practice; therefore, in addition to lectures based on PowerPoint Presentations, discussions, and exercises, it uses company examples to illustrate how the techniques presented have been applied in real case studies.

The Attendees

This training for compliance specialists is designed to broaden and deepen knowledge of vital regulatory risks such as financial crime, economic sanctions, and corruption.

It will be suitable to the professionals but not limited to the following:

• Anti-Money Laundering Officers
• Money Laundering Reporting Officer (MLRO)
• Compliance Officer/Manager
• AML Compliance Staff Members
• Compliance Analyst
• Auditors
• Audit Managers
• Risk Managers
• Quality Assurance Managers
• Cyber Security Officers

Daily Discussion

DAY ONE: RISKS AND METHODS OF MONEY LAUNDERING AND TERRORIST FINANCING

• What is Money Laundering?
• The Cycle of Money Laundering
• The Economic and Social Consequences of Money Laundering
• The Methods of Money Laundering
• Non-Financial Businesses & Professions
• Trade-Based Money Laundering
• Informal Value Transfer Systems
• New Payment Methods & Corporate Vehicles
• Terrorist Financing & Money Laundering

DAY TWO: INTERNATIONAL ANTI-MONEY LAUNDERING (AML) STANDARDS

• Financial Action Task Force – FATF
• 40 Recommendations of FATF
• Regional FATF Style Bodies
• The Basel Committee
• Customer Due Diligence for Banks
• Consolidated KYC Risk Management
• The Wolfsberg Group

DAY THREE: INTERNATIONAL ANTI-MONEY LAUNDERING (AML) STANDARDS

• Wolfsberg AML Principles on Private Banking
• Wolfsberg AML Principles for Correspondent Banking
• Egmont Group
• 3^rd & 4^th EU Directives
• Key US PATRIOT Act Sections
• Office of Foreign Assets Control (OFAC)

DAY FOUR: AML/CFT COMPLIANCE PROGRAMS

• The Basic Elements of an AML/CFT Compliance Program
• Compliance Culture
• CDD & Beneficial Ownership
• Transaction Monitoring and Reporting
• AML/CFT Program Objectives
• A Risk-Based Approach
• Products and Services
• Geography

DAY FIVE: CONDUCTING AND SUPPORTING INVESTIGATIONS

• Common Investigation Initiators
• Responding to a Law Enforcement Investigation
• Subpoenas
• Search Warrants
• Internal Investigations
• Investigations Initiated by Law Enforcement
• International Cooperation of FATF
• Financial Intelligence Units (FIU)