Course details

Anti-money Laundering and Regulatory Framework

Anti-money Laundering and Regulatory Framework


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
There is a constant battle between criminal and terrorist groups and global authorities around the movement of illicitly gained funds. Money laundering and terror financing are two of the most important regulatory issues that financial institutions, particularly global banks, must deal with. Various government initiatives worldwide have established strict rules on the transfer of funds and confirmation of fund sources and client identity. Sources in the industry estimate that many billions of dollars of illicit funds and funds used for terrorist activities change hands every year. This course introduces the major global anti-money laundering initiatives and regulations, and how these aim to curb global money laundering and terror financing. These initiatives and regulations include the Bank Secrecy Act, the USA PATRIOT Act, and the Wolfsberg Anti-Money Laundering Principles, as well as other national regulatory initiatives around the world.

Target Audience
Financial services professionals, consultants, and sales professionals interested in providing or selling products and services to fund managers, insurance companies, and banks, and everyone interested in knowing about banking supervision and anti-money laundering regulations

Expected Duration (hours)
0.5

Lesson Objectives

Anti-money Laundering and Regulatory Framework

  • differentiate between the reports and requirements mandated for banks by the Bank Secrecy Act
  • define the USA PATRIOT Act
  • identify the key sections of Title III of the USA PATRIOT Act
  • define the Bank Secrecy Act and USA PATRIOT Act
  • define Wolfsberg anti-money laundering principles regarding client information
  • identify the additional Wolfsberg principles
  • recognize the role of the Financial Action Task Force (FATF)
  • describe the Wolfsberg Principles and the role of the Financial Action Task Force (FATF)
  • Course Number:
    fini_05_a05_bs_enus