Money laundering and the financing of terrorism are issues of great concern, with profound economic and social implications, globally. The United Nations Office on Drugs and Crime estimates that about 2 to 5 percent of global GDP (or USD800 billion – USD2 trillion) is laundered annually.

At a broad level, money laundering diverts resources from economically and socially productive uses, thus negatively impacting the national and international financial sector. It undermines the legitimacy and integrity of the private sector and financial markets, creates economic distortions and instability, reduces revenues that could be available for implementing development programmes and projects, and creates significant reputational risks for organisations and countries.

Tackling the above-mentioned challenges requires a concerted approach by various stakeholders. There is need for regulators at both domestic and international level to promulgate relevant laws, guidelines, directives and recommendations on anti-money laundering and financing terrorism. The financial sector players need to develop and implement programmes that mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.

Course Objectives

To equip participants with an understanding of the key aspects of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF), enabling them to identify, report, and prevent money laundering and the financing of terrorism. This training will help participants protect themselves and their institutions against the associated risks.

Course Content

• Overview of money laundering and terrorist financing.
• International context of AML and CTF.
• International and local Anti-Money Laundering legislation.
• Risk based approaches.
• Compliance strategies.
• Recognising and reporting suspicious transactions.
• Money laundering detection techniques.
• Roles and responsibilities of accountable institutions.
• AML topologies.
• Customer due diligence.
• Records management.
• Implementation of UNSCR regulations; and
• Case studies.

Target Group

Junior and middle level staff from banking, mobile financial services, wealth management institutions, middle and back-office personnel, front office personnel, compliance and risk officers, regulators, investigations and security management.