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Anti-Money Laundering and Counter-Terrorist Financing in Banking
Secure financial integrity with this course on anti-money laundering for banking professionalsPreview the first lesson free — get full access to all 13 lessons.
Essential Provider : KnowledgeCity 2 chapters · 13 Lessons · 38m in English, Spanish
Course Description
Money laundering allows criminals to undermine the integrity of financial systems while also perpetuating more illegal activities and corruption. As a banking professional, you have the chance to protect your community with anti-money laundering best practices. With this course, you can safeguard the integrity of your financial system and help your bank comply with regulations. We discuss the concepts that you need to know to detect and prevent illicit activities, protect your institution from legal and reputational risks, and contribute to global efforts in combating financial crimes. Gain a deep understanding of the risks and broader Impact of money laundering on society. We will also address Customer Due Diligence and key security controls.
It can be challenging to have a reliable reputation in today’s marketplace. This course on Anti-Money Laundering and Counter-Terrorist Financing is designed to equip banking professionals with the knowledge and tools necessary to identify financial fraud and the stages of money laundering. Let us help you maintain customer trust, and uphold the financial industry's ethical standards, allowing you to play a critical role in promoting a stable and secure economic environment.
What You'll Learn
- Identify financial fraud, the stages of money laundering, and their associated risks
- Recognize red flags and report suspicious activity in banking operations
- Conduct Customer Due Diligence and Know Your Customer (KYC) checks
- Implement security controls and a Customer ID Program to prevent illicit activity
- Follow regulatory compliance through internal controls, policies, and procedures
- Explain the impact of money laundering and terrorist financing on society and financial systems
Key Takeaways
- Money laundering undermines the integrity of financial systems and perpetuates further illegal activity and corruption.
- Banking professionals can protect their institutions from legal and reputational risks by applying anti-money laundering best practices.
- Customer Due Diligence, Know Your Customer, and security controls are key to detecting and preventing illicit financial activity.
- Recognizing red flags and reporting suspicious activity supports compliance and combats financial crime.
- Internal controls, policies, procedures, and clear sector and employee responsibilities uphold regulatory compliance and ethical standards.
Frequently Asked Questions
Who is this course for?
This course is designed for banking professionals who want to identify financial fraud and the stages of money laundering and help their bank comply with regulations.
What topics does this course cover?
It covers defining financial fraud, the stages, risks, and impact of money laundering, financing terrorism, Customer Due Diligence and Know Your Customer, types of security controls and the Customer ID Program, red flags, suspicious activity reporting, and internal controls, policies, procedures, and compliance.
What skills will I gain from this course?
The course builds skills in decision making, data reporting, and user tracking as they apply to anti-money laundering and counter-terrorist financing in banking.
How does this course help with regulatory compliance?
It addresses regulatory compliance through internal controls, policies, procedures, and best practices, along with sector and employee responsibilities.
Professional Certifications and Continuing Education Units (CEUs)
Society for Human Resource Management (SHRM®)
Professional Development Credits (PDCs): 0.75
KnowledgeCity is approved by SHRM as a Recertification General Provider to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). By taking the courses approved by SHRM, KnowledgeCity can award SHRM Professional Development Credits (PDCs) for HR knowledge and competency programs related to the SHRM Body of Applied Skills and Knowledge™ (the SHRM BASK™).
