Fundamentals of Anti-Money Laundering: International Standards and Compliance Issues (2022)
With the FATF revised recommendations in 2012, requirements to combat money laundering and terrorist financing have been specifically strengthened in areas with higher risks or where implementation could be enhanced. Financial institutions and other designated sectors are required to adopt a risk-based approach to apply their resources to higher risk areas. Pressure is thus increasing on institutions to comply with the money laundering regulations and take effective steps to combat money laundering. This course aims to provide basic money laundering training to both public and private sector officials in a better, quicker and more efficient way by making them familiar with many of the laws and regulations now enhanced to deter money laundering. It will give a holistic overview of money laundering standards and issues, including definitions, various processes of money laundering, and impact of money laundering on international development.
At the end of the course, the participants should be able to:
- Discuss the basic concept of money laundering and its various processes;
- Identify the economic impacts of money laundering and terrorist financing on international development;
- Examine the efficiency of international standards to combat money laundering and terrorist financing;
- Summarize the legal requirements and preventive measures to be adopted by developing countries to combat money laundering; and
- Analyze a case study on UK regulatory regime to combat money laundering and make necessary arguments.
The course consists of the following modules:
- Module 1: An Introduction to Money Laundering
- Module 2: Role of International Organisations and Regional Bodies in Combating Money Laundering
- Module 3: Legal System Requirements and Preventive Measures to Combat Money Laundering
- Module 4: Anti-Money Laundering and UK Regulatory Regime – A Case Study
- Module 5: International Measures to Combat Terrorist Financing
In order to ensure the best possible outreach, the course will be delivered through e-learning. Through a multiple-instructional setting, the goal is to achieve the learning objectives by means of learning technologies that match personal learning styles and by the inclusion of non-linear learning that aims at the development of just-in-time skills of adult learners. At the same time, in order to allow participants maximum flexibility of scheduling , the learning will be conducted in an asynchronous manner. Using a state-of-the-art training architecture, UNITAR will combine self-learning with assessments and online discussions. The pedagogy - adapted specifically to professionals in full-time work - will help train participants through various experiences: absorb (read); do (activity); interact (socialize); reflect (relate to one’s own reality).
The intended audience includes ministries of finance, other government officials working on financial issues, financial institutions, law firms, staff from both the private and in-house practice like staff of central banks, commercial banks, investment banks, insurance companies, multinational corporations, accountancy firms, and consultancy firms.
A certificate of completion will be issued by UNITAR to all participants who complete the course-related assignments and assessments successfully. Course schedule is subject to change. Course fee is non-refundable but transferrable to another course or participant and subject to change as per UNITAR's policy on pricing.
Recommended hardware and software requirements for taking our e-learning courses:
- Platform: Windows XP sp3, Vista sp2, Windows 7 sp1, MacOS X.
- Hardware: 2 GB of RAM and higher for Vista and Windows 7.
- Software: Microsoft Word, Microsoft Excel, Microsoft Powerpoint and Adobe Acrobat Reader (downloadable for free at adobe.com).
- Browser: Internet Explorer 8 or higher; Mozilla Firefox 8 or higher.
- Internet connection: 128kbps and higher.