Anti-Money Laundry

General Objective:

The general objective of an anti-money laundering training course is to educate participants about the laws, regulations, and practices aimed at preventing the illegal acquisition and laundering of funds, while enabling them to recognize, report, and mitigate potential money laundering and terrorist financing activities within their respective roles and industries

Sub-Objectives:

-Understand the concept and importance of Anti Money Laundering (AML) in the financial industry.

-Explore the legal and regulatory framework of AML in the UAE.

-Analyze real-world case studies to grasp practical applications of AML measures.

-Develop skills to identify suspicious transactions and implement effective AML strategies.

-Comprehend the role of technology in combating money laundering and terrorism financing.

Course Outlines:

1: Introduction to AML

-Define money laundering and its impact on the global economy.

-Explain the connection between money laundering and terrorism financing.

-Discuss the regulatory bodies and international standards for AML.

2: AML Laws and Regulations in the UAE

-Examine the UAE's legal framework for AML, including key laws and regulations.

-Understand the role of the UAE Central Bank and other regulatory authorities.

-Explore the UAE's commitment to international AML conventions.

3: AML Compliance and Reporting

-Describe the obligations of financial institutions in UAE regarding AML compliance.

-Learn about customer due diligence (CDD) and know your customer (KYC) procedures.

-Understand the process of suspicious activity reporting (SAR) and transaction monitoring.

4: AML Strategies and Techniques

-Analyze various AML strategies and risk management techniques.

-Explore the importance of risk assessment and risk-based approach in AML.

-Study real AML cases in UAE to identify common patterns and red flags.

5: Technology and AML

-Discover the role of technology in AML, including AI, machine learning, and blockchain.

-Learn about transaction monitoring systems and their effectiveness.

-Understand challenges and ethical considerations in implementing AML technology.

 6: AML Investigations and Enforcement

-Explore the process of conducting AML investigations in the UAE.

-Understand the collaboration between law enforcement and financial institutions.

-Discuss the consequences of non-compliance and AML-related enforcement actions.