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Anti-Money Laundering (AML)

Money laundering is the process by which criminals disguise the proceeds of their crimes in order to make them appear legitimate or legally earned. The act of money laundering is often linked to most forms of organized crime and terrorist activity. 

In an attempt to curb the flow of laundered funds across the globe, international governments and industry bodies have sought to devise and implement effective control mechanisms, including laws and regulations, supervisory regimes and industry guidance. These regulations and guidance are continually updated to address ever more sophisticated money-laundering schemes and recent developments in digital technology. 

The provision of effective anti-money laundering (AML) training is essential in helping organizations meet their regulatory obligations and to prevent the negative impacts money laundering and terrorist financing can have on society, the economy, organizations, their customers and employees. Thomson Reuters Compliance Learning offer a range of AML training resources that are designed to explore the money laundering and terrorist financing risks across a range of jurisdictions, industries, and role types. This modular approach allows organizations to tailor AML training to meet their specific requirements.

Geography Covered: Global | Duration: 15-60 minutes

Summary

Can you imagine a drug dealer using a credit-card terminal to accept payment? How about someone paying for a television they bought off the back of a truck with a personal check? Hard to imagine, right? Most criminals conduct their business in cash. For years, criminals kept their ill-gotten gains in cash and used it to pay for everything from real estate to jewelry to things such as private school tuition. This prompted governments around the globe to pass laws prohibiting large cash payments or, at the least, requiring such payments to be reported. These laws created the need for criminals to conceal the true source of the money or to "launder" it.

To combat these threats, laws and regulations have been enacted in countries around the globe that make financial services firms, and in some cases individuals, responsible for preventing or stopping money laundering. Moreover, these laws are frequently updated to deal with ever more sophisticated money laundering schemes. As the burden to stop money laundering largely falls to individual institutions, a lack of AML training and failure to enforce money laundering laws routinely results in multimillion — and occasionally billion — dollar fines. The inevitable and irreversible reputational damage is more difficult to quantify but equally destructive to both the organization involved and its principals.

  • Modular approach

    We are transforming our Anti-money laundering (AML) course experience and have introduced a modular approach for this subject area.

    Benefits of the modular approach include:

    • A fundamentals course that allows all users to learn about the core aspects of the subject
    • A better experience allowing for smaller, more focused modules to be rolled out to relevant user groups ensuring no duplication of content and considering individuals’ time
    • Richer and more in-depth content within each focused module
    • Easier for clients to ‘mix and match’ depending on their user’s locality/role/business area
    • More detailed reporting with assessments on each module
    • Individual modules allow learners to come in and out as per their wider work commitments

    The modules are inclusive, responsive and benefit from audio and video throughout to increase engagement, interaction, and retention.

    Anti-Money Laundering (AML) Fundamentals

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. Our courses intend to familiarize employees with the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime

    Anti-Money Laundering (AML): Investment Firms and Funds

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course will familiarize employees working for or in connection with investment firms and funds with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this sector may encounter on a day to day basis.

    Anti-Money Laundering (AML): Bank Secrecy Act

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. Our courses intend to familiarize employees with the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. This course focusses specifically on the requirements stipulated by the Bank Secrecy Act and associated United States (US) legislation, including the USA PATRIOT Act. It also explores the key functions performed by regulatory and supervisory bodies such as FinCEN.

    Anti-Money Laundering (AML): Insurance

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course will familiarize employees working for or in connection with the insurance industry with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this sector may encounter on a day to day basis.

    Anti-Money Laundering (AML): Designated Non-Financial Business and Professions (DNFBPs)

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course will familiarize employees working for or in connection with a DNFBP with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this sector may encounter on a day to day basis.

    Anti-Money Laundering (AML): Know Your Customer (KYC) Essentials

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course focusses on the Know Your Customer (KYC) process, the information that should form part of an effective KYC processes, and the consequences of non-compliance.

    Anti-Money Laundering (AML): Financial Technology (FinTech)

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course will familiarize employees working for or in connection with the Financial Technology (FinTech) industry with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this sector may encounter on a day to day basis.

    Anti-Money Laundering (AML): Trade-based

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course will familiarize employees working for or in connection with the trade finance industry with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this sector may encounter on a day to day basis.

    Anti-Money Laundering (AML): Directors

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This course explores the role played by senior employees (including members of the Board of Directors) in ensuring organizational compliance with AML regulations

    Anti-Money Laundering (AML): Country Guides

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. These AML Country Guides outline the local AML regulatory requirements for a range of jurisdictions.

    Anti-Money Laundering (AML) Asia-Pacific (APAC)

    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary.

    This course will familiarize employees working in or in connection with the APAC region with an overview of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It will also highlight any specific risks and red flags that employees in this region may encounter on a day to day basis. 

    Other course titles

    Global courses

    AML (Global)
    This course provides staff with an understanding of the process of money laundering, the laws and regulations that make it illegal, and the responsibilities of employees to help detect and prevent it.

    Anti-Money Laundering – Insurance (Global)
    This course is intended for all professionals who are in or provide services to the insurance sector. It will familiarize them with processes used by money launderers, the principal ways in which money launderers tend to target the insurance sector, and best practices in detecting and dealing with the risk of money laundering. The course is designed as a general, global course on anti-money laundering with reference to the insurance sector. It does not cover specific national regulatory requirements or specific company policies.

    Anti-Money Laundering - Refresher (Global)
    Money laundering is a potential indicator of terrorist funding and other global crimes, making anti-money-laundering (AML) training even more necessary. This AML refresher course is intended to remind employees about the process of money laundering—the criminal business used to disguise the true origin and ownership of illegal cash—and the laws that make it a crime.

    Anti-Money Laundering - Retail Banking (Global)
    The purpose of this AML for retail banking course is to set out the money laundering and terrorism finance risks that apply to retail banks. The course will also highlight measures undertaken by financial organizations to identify, prevent and report money-laundering practices. Additionally, the course provides an overview of the expectations of the key global regulatory bodies, and some practical examples of the consequences when banks fail to meet AML/CTF requirements.

    Trade Finance and Trade Based Money Laundering (Global)
    This course provides staff working in financial firms with an understanding of the process of money laundering in trade finance, the effective measures to mitigate money laundering and terrorist financing and the responsibilities of employees to help detect and prevent it.

    UK & Europe courses

    Anti-Money Laundering for Commercial Banking (UK & Europe)
    The purpose of this AML for Commercial Banking course is to set out the money laundering and terrorism finance risks for Commercial Banks. The course will also highlight measures undertaken by financial organizations to identify, prevent and report money laundering practices. Additionally, the course provides an overview

    AML Investment Firms (UK and Europe)
    This course provides staff working in investment firms with an understanding of the process of money laundering, the laws and regulations that make it illegal and the responsibilities of employees to help detect and prevent it.

    Anti-Money Laundering - (AML) Trade Finance (UK and Europe)
    This course provides staff working in Trade Finance with an understanding of the process of money laundering, the laws and regulations that make it illegal and the responsibilities of employees to help detect and prevent it.

    AML (Russia)
    This course describes money laundering and terrorist financing and the rules and regulations enacted to prevent Russian firms from being targeted by money launderers and other criminals. The course also details the associated obligation, such as the implementation of company systems and controls aimed at managing the risks.

    Americas courses

    AML Canada
    This course covers the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

    AML (US)
    This course is recommended for all employees who need to understand the process of money laundering, the laws that make it a crime, and how to prevent it.

    Anti-Money Laundering for MSBs (US)
    This course is recommended for employees of money service businesses (MSBs) who need to understand the laws that make money laundering a crime. It covers anti-money laundering rules and regulations that MSBs must comply with and explains how they affect employees' day-to-day job responsibilities.

    APAC courses

    AML – Designated Non-Financial Business or Profession (DNFBP)(APAC)
    This course will include a review of the inclusion of DNFBPs within the Financial Action Task Force (FATF) 40 recommendations and exploration into the enactment of these recommendations into a variety of local legislative measures throughout the APAC region.

    AML (APAC)
    This course covers the anti-money laundering laws of Singapore, Hong Kong, Australia, Japan, Malaysia and New Zealand.

    AML Advanced (APAC)
    The course provides an in-depth examination of the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime. It also examines in-depth the key controls that should be adopted by the financial services sector in order to prevent and detect money-laundering activity.

    AML (Australia)
    This course provides staff working in financial firms with an understanding of the process of money laundering, the Australian laws and regulations that make it illegal and the responsibilities of employees to help detect and prevent it.

    AML (China)
    The purpose of this AML in China course is to (1) set out the risks for banks to be susceptible to money laundering and terrorist financing, and (2) understand the specific measures undertaken by Chinese banking organizations to identify, prevent and report money-laundering and terrorist financing practices. Additionally, the course provides a deep dive into the People’s Bank of China's (PBOC) AML expectations.

    AML (Pakistan)
    The purpose of this course is to (1) set out the risks for banks to be susceptible to money laundering and terrorist finance, and (2) understand the specific measures undertaken by financial institutions in Pakistan to identify, prevent and report money laundering practices.

    AML and Counter-Terrorism Financing (APAC)
    Money laundering is a potential indicator of terrorist funding and other global crimes, making AML Training even more necessary. This AML training course is intended to familiarize employees with The process of money laundering — The criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime.

    AML for Money Service Businesses (APAC)  
    This course is recommended for employees of money service businesses (MSBs) who need to understand the laws that make money laundering a crime. It outlines the anti-money-laundering (AML) rules and regulations that MSBs must comply with and explores how these rules and regulations affect employees' day-to-day roles.

    AML – Refresher (APAC)
    Money laundering is a potential indicator of terrorist funding and other global crimes, making AML training even more necessary. This AML refresher course is intended to remind employees about the process of money laundering — the criminal business used to disguise the true origin and ownership of illegal cash — and the laws that make it a crime.

    AML Trade Finance and Trade Based Money Laundering (APAC)
    This course provides staff working in investment firms with an understanding of the process of money laundering in Trade Finance, the effective measures to mitigate money laundering and terrorist financing and the responsibilities of employees to help detect and prevent it.

    Preventing Online Sexual Exploitation of Children (Philippines)
    Online sexual exploitation of children (OSEC) refers to child sexual exploitation which is facilitated via the Internet and other related media. OSEC and other forms of child exploitation are a global issue. However, OSEC has been identified as being particularly prevalent in the Philippines. This course will consider some of the ways in which institutions can identify and assist in the prevention of OSEC and will explore some of the measures being taken by governmental agencies to tackle this serious crime.

    Singapore Payment Services Act 2019
    In 2019, Singapore enacted the Payment Services Act to address the growth of payment service providers, including cryptocurrency dealers and exchanges. This course explains the key provisions of the Act, with a focus on its licensing and AML/CTF requirements.

    Trade Based Money Laundering - Advanced (APAC)
    The course provides an in-depth examination of the process of TBML, the methods criminals use to disguise the true origin and ownership of illegal funds and the methods criminals use to move value cross-border. It also highlights some of the key risk factors and examines some of the controls financial services firms can implement in order to prevent and detect TBML

    MENA courses

    AML (Africa)
    This course analyzes financial crime topics including money laundering, terrorist financing, fraud and bribery and corruption. The course raises awareness of financial crime risks, global laws and regulations, laws and regulations applicable to specific nations in Africa, and the systems and controls aimed at detecting and preventing financial criminal acts.

    Anti-Money Laundering (AML) Dubai Regulators
    This course provides an overview of the process of money laundering and terrorism financing and the laws and regulations applicable to the United Arab Emirates (UAE) with a particular focus on Dubai.

  • As with all of our courses, the Anti-Money Laundering compliance training courses are written by experts.  Content for our course library is powered by world-leading regulatory intelligence and courses are updated in response to the latest regulatory and legislative changes.

    All of our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.

    We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and helps you build a culture of integrity and compliance.

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