Anti Money Laundering Training Courses -

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Course Methodology

This course is fully interactive and participation is encouraged to achieve maximum benefit. Participants are invited to present their own cases and scenarios, where questions can be answered and doubts can be resolved. There will also be team activities, case studies and practical examples for discussion.

Course Objectives

By the end of the course, participants will be able to:

Detect and prevent Money Laundering
Define Money Laundering and its cycle
Identify how Money Laundering can be committed
Apply the GCC and international law and regulations on Anti-Money Laundering
Analyze financial records and identify possible leads
Apply methods to prove income or funds from unknown sources

Target Audience

This course is suitable for senior managers with responsibility for, or involvement in, the development or implementation of Anti-Money Laundering policies and procedures. It will also highly benefit financial officers, financial controllers, accountants, Money Laundering reporting officers, compliance officers, managers, auditors and staff with duties requiring Anti-Money Laundering compliance.

Target Competencies

Understanding the Anti-Money Laundering Cycle
Identifying Money Laundering Methods
Anti-Money Laundering Laws and Regulations
Fraud Detection and Prevention
Analyzing Financial Records
Proving Income and Funds

Principles of Money Laundering
- What Money Laundering is and its importance
- Stages of the Money Laundering process
- The Money Laundering cycle
- Sources of 'dirty money'
- Know your customers
- Hidden assets
- Common vehicles used to hide assets
- Asset hiding versus Money Laundering
International development of law and regulation
- The role of the Financial Action Task Force (FATF)
- European directives
- U.S. Patriot Act
- United Nations Resolutions
- The Wolfsberg Principles
- The GCC as a member of FATF
- Foreign Account Tax Compliance Act (FATCA)
- Anti-Money Laundering (AML) law and regulations in the GCC
Money Laundering schemes
- Nominee scheme
- Business front scheme
- Banking scheme
- Banking-business combination
- Smurf and structured transactions
- Shell companies
- Loan-back schemes
- Invoice scams
- Buy-backs
- Examples of money laundering schemes
Identifying indicators of illegal activities in bank records
- How indicators are developed
- How indicators can be used
- Indicator examples
- Abnormal activity in accounts
- Tips and pitfalls
Methods of proving income
- Analyzing financial records for leads
- Using books and records in a financial case
- Analyzing the balance sheet
- Analyzing the income statement
- Indirect methods: net worth and bank deposits
- Direct methods of proof
- The Capone organization

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.