$165.00 inc GST

Anti-Money Laundering and Countering Financing of Terrorism Course

Course preview

At a glance

Course length:
5-45 minutes online

Anti-Money Laundering and Countering Financing of Terrorism Act (2009)

Course audience:
Financial services personnel

Available in New Zealand content format

Course type:
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.

The legislation impacts any organisation which provides financial services and products or specific designated services. Financial institutions are expected to comply with AML/CFT laws, make sure that clients are aware of these laws and guide people with them without prior active government orders.

Safetrac’s ‘Anti-Money Laundering and Countering Financing of Terrorism’ course provides employees with a general understanding of how AML/CFT laws operate within the workplace and their responsibilities.

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Learning outcomes

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.

Course contents

  • What is money laundering?
  • What is terrorism financing?
  • Differences
  • Depending on the jurisdiction, topics covering:
    • The law
    • The AML/CFT compliance program
    • Limited expectations
    • Collection information
    • Beneficial owners
    • Customer due diligence
    • Reporting
    • Penalties
    • 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:

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