AGRC Certificate in Anti-Money Laundering (AML)

On this accelerated AGRC Certificate in Anti-Money Laundering (AML) course, you'll gain an understanding of the necessary tools, information, and skills to become an in-demand professional for financial institutions and other organizations looking to create or strengthen their AML divisions.

This certificate will provide participants with comprehensive knowledge of what constitutes Money Laundering (ML) and what has been put in practice across the globe to prevent or curtail it from a legal, regulatory, political, enforcement and economic perspective.

In just 2 days, you'll also gain:

• Comprehensive knowledge of what constitutes Money Laundering (ML) and the steps financial institutions need to follow to curtail the criminal world's increasingly complex attempts to legalize the money accrued from its illegal activities.
• Via the use of five case studies, a thorough understanding of what has been put in practice across the globe to prevent Money Laundering from a legal, regulatory, political, enforcement and economic perspective.

At the end of this course, you'll achieve your AGRC Certificate in Anti-Money Laundering (AML) certification. Through Firebrand's Lecture | Lab | Review methodology, you'll get certified at twice the speed of the traditional training and get access to courseware, learn from certified instructors, and train in a distraction-free environment.

Audience

This course is ideal for professionals looking to build a career in governance, risk and compliance, including working in functions that focus on AML, financial crime prevention, risk management, customer onboarding and more.

Module 1: Money Laundering (ML) and Terrorist Financing (TF)

• Explain the basic stages of money laundering.
• Identify the methods used in money laundering.
• Define money laundering and its predicated offences.
• Define the financing of terrorism.
• Interpret the similarities and differences between ML and TF.
• Identify the threats to the integrity of the global financial system that enable financial crime.
• Interpret the reputational risk that ML and TF imposes to an organisation.
• List the common types of activities that can be prosecuted as a terrorism offence

Module 2: AML Supervision

• Identify the international bodies affecting the AML regulatory environment (FATF, European Commission, MONEYVAL, The Basel Committee, The Wolfsberg Group, etc.)
• Explain the FATF 40 recommendations.
• Describe the main provisions of the European 4th, 5th, and 6th AML Directives.

Module 3: The AML Compliance Program

• Understand the role of the Board of Directors, the Internal Auditor, and the Compliance Officer.
• Implement the appropriate policies and procedures that need to be in place in every obliged entity.
• Describe the benefits of the internal audit function.
• Explain the role and responsibilities of the Money Laundering Compliance Officer (MLCO).
• Recognize the importance of employees' education and training.

Module 4: The Risk-Based Approach (RBA) to ML and TF

• Define relevant risks and an organization's basic obligations.
• Understand the concept of the risk-based approach to ML and TF.
• Implement an appropriate identification and assessment of ML risks.
• List and explain the factors that need to be considered by an obliged entity when assessing the AML risks posed by a business relationship.
• Apply a Risk Based Approach (RBA) and business-wide risk assessments.

Module 5: Customer Due Diligence (CDD)

• Define and explain CDD.
• List and describe the different types of CDD and their application.
• Recognize and interpret transaction monitoring and suspicious transaction reporting.

Module 6: International Economic Sanctions

• Identify both the definition and purpose of international economic sanctions.
• Demonstrate the difference between the different forms of sanctions (unilateral vs. multilateral) and their categories (comprehensive vs. smart and primary vs. secondary).
• Understand why the US has made extensive use of secondary sanctions.
• Recognize the conditions under which sanctions are successful.
• Explain the difference between decisions taken multilaterally and unilaterally.
• Describe the decision-making framework for the two key international institutions (the EU and the UN).
• Explain the limitations of the EU and the UN when deciding to use sanctions.
• Understand the US's case as that of a sovereign state that has opted to unilaterally impose sanctions that include secondary sanctions.
• Recognize how the US can pressure other countries to adopt its sanctions policy.

Module 7: Vulnerabilities of Financial Institutions to ML and TF Learning

• List and explain the vulnerabilities of the following banking functions:
  • Wealth management
  • Lending and credit facilities
  • Correspondent banking
  • Investment banking
  • International trade finance
• Define and interpret the vulnerabilities of other financial sectors such as:
  • Insurance
  • The securities sector and financial instruments
  • Digital or virtual currencies
  • Money transfer businesses

Module 8: Money Laundering and Terrorist Financing Case Studies

• Describe how financial institutions may fail to implement adequate
• AML/CFT mechanisms and the impact such failures may have

There are no prerequisites for this accelerated course.

At the end of this accelerated course, you'll sit the following exam at the Firebrand Training Centre, covered by your Certification Guarantee:

AGRC Certificate in Anti-Money Laundering (AML) exam

• Duration: 60 Minutes
• Format: 40 Multiple-Choice Questions (MCQ), Closed-book
• Number of questions: 40
• Passing score: 70% (70/100)