Anti-Money Laundering (AML)

Objectives

On completion of this tutorial, you will be able to:

  • Define money laundering and list its stages

  • Define terrorist financing

  • Recognize the laws and regulations in relation to money laundering and terrorist financing

  • Identify your responsibilities as well as those of key personnel in your organization

  • List the systems and controls a firm should employ in relation to managing financial crime risks

Tutorial Overview

The growth in international crime and terrorism has seen greater efforts by criminals to unearth new ways of integrating their illicit funds into financial markets.

Identifying and bringing to justice those who help launder illicit funds is a priority for both governments and financial markets regulators. You have an important part to play in this work – ignorance is no longer a valid form of defense. The penalties for noncompliance are severe and can include a fine and/or a custodial sentence, so understanding your obligations in relation to anti-money laundering (AML) and counter terrorist financing (CTF) is vital.

Prerequisite Knowledge

None

Tutorial Level

Introductory

Tutorial Duration

70 minutes