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Course Outline

Introduction

Overview of FATF

  • Introduction to FATF: history and purpose.
  • FATF membership and governance.
  • Key objectives and functions of FATF.

Understanding Money Laundering and Terrorist Financing

  • Definitions and concepts.
  • Typologies and techniques.
  • Case studies and real-world examples.

The 40 FATF Recommendations

  • Introduction to the 40 recommendations.
  • Structure and organization of the recommendations.
  • Importance and impact on global financial systems.

Legal Systems and Operational Issues

  • Recommendations 1-4: risk-based approach, national cooperation, and international cooperation.
  • Recommendations 5-8: criminalization, preventive measures, and non-profit organizations.
  • Recommendations 9-12: financial institutions and non-financial businesses and professions.

Preventive Measures

  • Recommendations 13-16: customer due diligence, record keeping, and reporting.
  • Recommendations 17-21: reliance, internal controls, and foreign branches and subsidiaries.
  • Recommendations 22-23: designated non-financial businesses and professions (DNFBPs).

Transparency and Beneficial Ownership

  • Recommendations 24-25: transparency and beneficial ownership of legal persons and arrangements.

Powers and Responsibilities of Competent Authorities

  • Recommendations 26-29: regulation and supervision.
  • Recommendations 30-32: law enforcement and investigations.

International Standards and Cooperation

  • Recommendations 33-35: mutual legal assistance and extradition.
  • Recommendations 36-40: international instruments, cooperation, and other measures.

Implementation and Compliance

  • National risk assessment and compliance.
  • FATF evaluation and monitoring processes.
  • Case studies of implementation and challenges.

Practical Workshop

  • Developing compliance programs.
  • Conducting risk assessments.

Summary and Next Steps

Requirements

  • Basic understanding of financial systems and institutions.
  • Familiarity with fundamental legal and regulatory concepts related to finance, compliance, and anti-money laundering (AML).

Audience

  • Compliance officers.
  • Legal professionals.
 14 Hours

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