At a glance
5-45 minutes online
Anti-Money Laundering and Countering Financing of Terrorism Act (2009)
Financial services personnel
Available in New Zealand content format
Structured LearningiDesigned for learners with little prior knowledge, this course type takes the learner through the course subject sequentially – one step at a time., and ShortBurst.
About this course
The International Monetary Fund (IMF) and the World Bank estimate that around 3-5% of global GDP, or around $3 trillion, is laundered worldwide every year.
Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) laws and regulations are there to tackle money laundering and the financing of terrorism. They also target activities that include market manipulation, trade of illegal goods, corruption and evasion of tax, as well as all activities that aim to conceal these deeds.
On completing this course, learners should be able to:
- understand what money laundering is;
- understand what counter-terrorism financing is; and
- explain their responsibilities under the law.
- What is money laundering?
- What is terrorism financing?
- Depending on the jurisdiction, topics covering:
- The law
- The AML/CFT compliance program
- Limited expectations
- Collection information
- Beneficial owners
- Customer due diligence
- Keeping records
- What a reporting entity must do
- The activity-based approach
- The risk-based approach
- AML/CFT risk assessment
- Prescribed transaction reporting
This Safetrac course is built in conjunction with: