AML/CTF Compliance in the EU and FATF Standards

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Course Overview

Course Title: AML/CTF Compliance in the EU and FATF Standards

Overview: This course provides a comprehensive foundation in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance within the context of the EU regulatory framework and FATF standards. It covers the definitions, impacts, and regulatory directives, as well as practical approaches to implementation and risk management.

Learning Objectives

Knowledge:

Understand the definitions and types of money laundering and terrorist financing.
Learn about the EU AML Directives and FATF Recommendations.
Gain insights into the principles and objectives of Customer Due Diligence (CDD) and Know Your Customer (KYC).

Skills:

Implement AML/CTF frameworks and risk management strategies.
Develop and apply effective AML and CTF policies and procedures.
Utilize transaction monitoring systems for compliance and suspicious activity reporting.

Attitudes:

Foster a proactive approach to AML/CTF compliance.
Promote a culture of compliance within financial institutions.

Target Audience

Financial professionals, compliance officers, AML specialists, regulatory affairs specialists, and anyone involved in the AML/CTF landscape within the EU.

Course Curiculum

Course Outline

1. Foundation of AML/CTF Compliance and Regulatory Framework

Understanding Money Laundering and Terrorist Financing
- Definition and types of money laundering
- Definition and types of terrorist financing
- Consequences and impact on financial systems and global security
Overview of Regulatory Framework
- Introduction to EU AML Directives
- Overview of FATF Recommendations
- Harmonization efforts between EU and FATF standards
EU AML Directive Overview
- Evolution of AML Directives in the EU
- Key provisions and requirements of the latest EU AML Directive
- Impact on financial institutions and designated non-financial businesses and professions (DNFBPs)
Customer Due Diligence (CDD) and Know Your Customer (KYC)
- Principles and objectives of CDD and KYC
- Enhanced Due Diligence (EDD) requirements
- Best practices for customer identification and verification

Summary

2. Implementation of AML/CTF Framework and Risk Management

Transaction Monitoring
- Importance of transaction monitoring in AML/CTF compliance
- Automated vs. manual transaction monitoring systems
- Suspicious Transaction Reporting (STR) requirements
Reporting Obligations and SAR Filing
- Obligations to report suspicious activities
- Criteria for filing Suspicious Activity Reports (SARs)
Risk-Based Approach (RBA)
- Principles and benefits of RBA in AML/CTF compliance
- Implementing an effective risk assessment framework
- Tailoring compliance measures based on risk assessment results
Elements of a Robust AML Compliance Program
- Designing and implementing policies, procedures, and controls
- Role of senior management in promoting a culture of compliance

3. AML/CTF Trends and Threats

Overview of emerging money laundering and terrorist financing trends
Challenges posed by virtual assets, cryptocurrencies, and new technologies
Strategies to address evolving threats and vulnerabilities

4. Best Practices, Case Studies, and Future Outlook

Conclusion and Q&A

AML/CTF Virtual Asset Risk Management

Location: Live Online Training

Initial Price: ~~€300~~

Funding Information: HRDA funds up to 80% of the course fees. Therefore, your company will only pay the amount: €60 *No VAT is charged as SCP’s Funded courses are excluded from it.

Individual (Non-funded)

For a person not eligible for the subsidy, we offer a discounted price of €180 (installments accepted x2 or x 3).

Questions? Contact us 70008828 or 96828323

Duration: 12 hours (12CPDs)

+ Online participation in all modules of first-class training
+ Module recordings in your personal account (6 months access)
+ Personal Certificate at the end of the course

Enroll Now

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