Key Features & Benefits of this Course
- Takes just 30 minutes to complete
- CPD approved
- Clear and easy to understand
- Engaging use of animation and graphics
- Essential for anyone who works in an organisation regulated by anti-money laundering laws and regulations
- Working towards compliance with regulations
- Provides printable certificates
Anti-Money Laundering Training Course Contents
1. Money Laundering
Money laundering is all about converting the proceeds of illegal activity into money or assets which appear to be legitimate or hiding money or assets (which may have come from legal or illegal sources).
In this section, we look at the stages involved in the money laundering process.
2. Customer Verification
This section is all about finding out about customers and deciding what level of risk they pose. It explains how to check identity and what should be done if there are any problems with the evidence provided.
3. Suspicious Activity
This section looks at the RED FLAGS of suspicious activity - the things which everyone should be on the look out for. It explains the importance of reporting concerns, who should be reported to and what sort of information they'll need.
4. Laws, Acts and Policies
In this final section, we're looking at policies and procedures and at the money laundering Laws, Acts and Regulations.
Anti-Money Laundering Certificate
This Anti-Money Laundering Training course concludes with a 20 question multiple choice test with a printable certificate. In addition, brief in-course questionnaires guide the user through the sections of the training and are designed to reinforce learning and ensure maximum user engagement throughout.
As well as printable user certificates, training progress and results are all stored centrally in your LMS (Learning Management System) and can be accessed any time to reprint certificates, check and set pass marks and act as proof of a commitment to ongoing legal compliance.
What does my certificate include?
Your Anti-Money Laundering Certificate includes your name, company name (if applicable), name of course taken, pass percentage, date of completion, expiry date and all relevant approvals.
Legislation relating to Money Laundering
Money Laundering Regulations 2007 / The Proceeds of Crime Act 2002
The Money Laundering Regulations 2007 apply to 5 business sectors, namely:
- Estate Agency Businesses
- Money Service Businesses
- High-Value Dealers
- Accountancy Service Providers
- Trust or Company Service Providers
The regulations were created to ensure that all firms have a risk assessment in place and conduct comprehensive client due diligence, as well as monitoring clients compliance with the regulations. More information can be found in this summary of key points.
The Proceeds of Crime Act 2000 allows for the 'civil recovery' or confiscation of the proceeds from any crime related activity.
“Customer due diligence measures” means—
(a) Identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source;
(b) Identifying, where there is a beneficial owner who is not the customer, the beneficial owner and taking adequate measures, on a risk-sensitive basis, to verify his identity so that the relevant person is satisfied that he knows who the beneficial owner is, including, in the case of a legal person, trust or similar legal arrangement, measures to understand the ownership and control structure of the person, trust or arrangement; and
(c) Obtaining information on the purpose and intended nature of the business relationship.
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