AML/CFT Programme
Practitioner4 daysAML/CFT
Programme overview
The complete AML/CFT compliance officer programme, from the FATF Recommendations through to the operational detail of onboarding, monitoring, reporting and regulator engagement. Delegates build an institutional AML/CFT risk assessment, a risk based customer due diligence model, a transaction monitoring rule set and a reporting framework. Anchored throughout in the Eswatini legal framework and EFIU reporting practice, with regional and international comparators.
Who should attend
Money laundering reporting officers and their deputies, AML compliance officers and analysts, heads of compliance, onboarding and account opening managers, branch managers, internal auditors reviewing AML, and executives accountable for AML/CFT.
Sectors
Banks, mobile money and payment service providers, foreign exchange bureaux, insurers and brokers, retirement funds, SACCOs and microfinance, capital markets participants, casinos and gaming, and DNFBPs including legal practitioners, accountants, estate agents and dealers in precious metals and stones.
Modules
- The global architecture: FATF, the 40 Recommendations, ESAAMLG, mutual evaluation and the consequences of listing
- Eswatini's AML/CFT legal framework, the role and powers of the Eswatini Financial Intelligence Unit, and supervisory responsibilities
- Who is an accountable institution, who is a DNFBP, and what each must do
- Money laundering typologies: placement, layering, integration, and the methods actually seen in this region
- Terrorist financing and proliferation financing: how they differ from money laundering and why controls must differ
- Targeted financial sanctions: UN designations, screening obligations, freezing without delay, false positive management
- The institutional AML/CFT risk assessment: customer, product, channel, geography and delivery risk
- Designing a risk based approach: risk rating customers and calibrating due diligence to the rating
- Customer due diligence: identification, verification, source of funds and source of wealth
- Beneficial ownership: identifying natural persons behind legal persons and arrangements
- Politically exposed persons: domestic, foreign and international organisation PEPs, and handling them in a small country where everyone is connected
- Enhanced and simplified due diligence, and ongoing due diligence and periodic review
- Correspondent banking, wire transfers and the travel rule
- Transaction monitoring: rule design, thresholds, tuning, alert handling and investigation
- Suspicious transaction and activity reporting: recognition, investigation, drafting a report the FIU can act on, and tipping off
- Record keeping obligations and retention periods
- Governance: the MLRO's mandate, board oversight, independent testing and the annual AML report
- Training obligations: designing your institution's AML training programme
- Regulator inspections and remediation: preparing, surviving and closing findings
- Capstone: institutional risk assessment presentation
Learning outcomes
On completion delegates will be able to:
- Explain the Eswatini AML/CFT framework and your institution's obligations under it
- Conduct an institutional AML/CFT risk assessment
- Design and operate a risk based CDD model with defensible risk ratings
- Identify beneficial owners and manage PEP relationships
- Design and tune transaction monitoring rules
- Investigate an alert and draft a suspicious transaction report of usable quality
- Design your institution's AML training programme
- Prepare the institution for a supervisory inspection
Tools and templates provided
- Institutional AML/CFT risk assessment tool
- Customer risk rating matrix
- CDD and EDD checklists by customer type
- Beneficial ownership determination worksheet
- PEP register and screening procedure
- Transaction monitoring rule library
- STR drafting template and quality checklist
- AML/CFT policy and procedure manual skeleton
- Annual MLRO report template
Assessment and certification
Daily knowledge checks, four assessed practical exercises including a full STR drafting exercise, and a capstone institutional risk assessment presentation.
Certificate of Completion.