Anti-Money Laundering Concepts: AML, KYC and Compliance from Udemy

Welcome to the course on Anti-Money Laundering (AML), where you will learn about the key issues faced by financial institutions today: Money Laundering and Terrorist Financing. This course will educate you on Money Laundering and Terrorist Financing laws, Know Your Customer, Customer Due Diligence, Sanctions and Politically Exposed Persons. This is a comprehensive course that captures all relevant concepts required for training employees of an organization.

We will start the course by understanding the term Money Laundering and will then cover the process & impact of the same. Post which, we will learn about terrorist financing and then cover the differences and similarities between money laundering & terrorist financing. In the next lectures, we will cover the Anti-Money Laundering policies along with KYC procedures, Economic Sanctions & Politically exposed persons. We will also go through some common indicators to identify suspicious Money Laundering activity.

There are no prerequisites for this course and can be completed in ~2 hrs (including situation based practice scenarios & exercises).

Course enrollment grants you lifetime access, with no expiration, to all the course lectures. In addition, you’ll also receive 1-on-1 support for any questions or uncertainties that come up. And this all comes with a money-back guarantee. You have nothing to lose and so much knowledge to gain.

Just ask the students who’ve already taken this course:

"1.5 hours of lecture will cover up all the topics of"

-Supratim Majumder

"This course was very informative and covered a wide variety of areas. I especially liked the fact scenarios to test assimilation of the material and the guidance on what to include in a money laundering policy. Thanks for that."

- Danine K. Jones

"The Course is Great and I suggest not only Business Personalities or the Person in Financial Field, But, to Everyone as it is very important content. This should be Educated and printed in Text Books of Students too. I admire the Instructor and Thank You and I hope this helps everyone."

- Abdulbasiru Rabilu

"It was nice taking this course, i have acquired more knowledge about money laundering and i love the way videos and quiz has been set."

-Pillwax Bulambo

"I was very fascinated about the topic from the very start of the course. The course was great and especially with the examples the understanding was clear and crisp."

-Subham Saha

What's inside

Learning objectives

What is money laundering?
Examples of money laundering
Process & impact of money laundering
Terrorist financing
Money laundering versus terrorist financing

Anti-money laundering (aml) policies
Aml kyc procedures and customer due diligence
Aml economic sanctions
What are politically exposed persons?
Common indicators to identify suspicious money laundering activities

What is money laundering?
Examples of money laundering
Process & impact of money laundering
Terrorist financing
Money laundering versus terrorist financing
Anti-money laundering (aml) policies
Aml kyc procedures and customer due diligence
Aml economic sanctions
What are politically exposed persons?
Common indicators to identify suspicious money laundering activities

Syllabus

Introduction

Welcome to the course

Money Laundering Concepts

What is Money Laundering?

Course Resources

You've reached your first milestone!

Three stages of Money Laundering

Money Laundering Examples

Time to check your understanding on Money Laudering Cycle

Methods of Money Laundering

Time to check your understanding on Methods of Money Laundering!

Consequences of Money Laundering

Recent Penalties in Money Laundering Cases

Situation based Practice Scenarios on Impact of ML

Time to check your understanding on Impact of Money Laundering.

Identifying Money Laundering

Common Indicators to Identify Money Laundering

Situation based Practice Scenarios on Money Laundering

Terrorist Financing

Introduction to Terrorist Financing and it's relation with Money Laundering

Techniques Terrorists use to raise & move funds

Hawala System of Transferring Money

Terrorist Financing Example, Red Flags & Prevention

Details on High Risk Countries

Time to check your understanding on terrorist financing.

Anti-Money Laundering Policies

Introduction to Anti-Money Laundering Policies

KYC & Customer Due Diligence

Enhanced Customer Due Diligence

Customer Due Diligence Program & FATF's Recommendations

Guidelines for Account Opening & Customer Identification

Time to check your understanding on Anti-Money Laundering.

Sanctions

Politically Exposed Persons

Reporting Suspicious Transactions

Suspicious Transaction Report (STR)

Sample STR Form

Time to check your understanding of STR

Case Study on Prevention of Money Laundering

HSBC paid $1.9 billion Money Laundering Fine

Danske Bank: "Europe's Biggest Money Laundering Scandal"

Conclusion

Key Takeaways

Time to check your understanding of the concepts covered in this course.

Bonus Section

Final milestone it is!

Bonus Lecture

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for individuals seeking certification in Anti-Money Laundering (AML) regulations

A comprehensive course that covers all relevant concepts required for training employees in financial institutions

Offers practical insights through common indicators to identify suspicious money laundering activities

Taught by experienced professionals from GenMan Solutions, who are recognized in the field of AML compliance

Lifetime access to course materials and 1-on-1 support provide flexibility and personalized assistance

May be less beneficial for individuals without prior knowledge of financial regulations or AML concepts

Reviews summary

Aml concepts foundation

Learners say this course provides a solid foundation for those interested in the Anti-Money Laundering (AML) field, covering the basics of AML, KYC, and compliance. The course is well-structured, with clear explanations and plenty of engaging assignments to reinforce learning. The instructor is knowledgeable and presents the material in a way that is easy to understand, even for beginners. Overall, learners recommend this course for anyone looking to gain a better understanding of AML concepts.

The instructor does a great job of explaining the concepts in a clear and concise way.

"The course is well-structured, with clear explanations and plenty of engaging assignments to reinforce learning."

"The instructor does a great job of explaining the concepts in a clear and concise way."

The course is organized in a logical way, with clear explanations and plenty of examples. This makes it easy to follow along and understand the material.

"The course is well-structured, with clear explanations and plenty of engaging assignments to reinforce learning."

"The course is organized in a logical way, with clear explanations and plenty of examples. This makes it easy to follow along and understand the material."

The instructor is clearly knowledgeable about the subject matter and presents the material in a way that is easy to understand.

"The instructor is knowledgeable and presents the material in a way that is easy to understand, even for beginners."

The course provides a lot of valuable information about AML, KYC, and compliance.

"Overall, learners recommend this course for anyone looking to gain a better understanding of AML concepts."

The quizzes are mostly straightforward and do not encourage critical thinking.

"Quizzes were largely straightforward, and did not really encourage critical thinking."

In most cases, the instructor simply recites the points on the slides without providing additional information.

"Students would be able to grasp concepts simply by reading off the slides, as the lecturer was mostly reciting the points as a guide without really providing additional information in most cases."

The course could be improved by including more real-world examples of how AML crimes are committed and detected.

"I would consider this course as a good introduction to AML concepts. Having sat through the entire course, I was able to comprehend the various concepts of AML from a theoretical point of view, but would not consider myself as someone who would necessarily be able to execute AML duties in a professional context. More real world examples of how AML crimes were committed and detected would have been appreciated."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Anti-Money Laundering Concepts: AML, KYC and Compliance with these activities:

Look through previous AML knowledge

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Review your Anti-Money Laundering knowledge before starting this course.

Browse courses on Anti-Money Laundering

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Recall your understanding of money laundering.
Think about examples of money laundering that you know of.
Review the three stages of money laundering.

Take the quiz on identifying money laundering

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Test your knowledge of how to identify money laundering.

Browse courses on Money Laundering

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Go to the course website.
Take the quiz on identifying money laundering.

Complete the KYC quiz

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Test your understanding of KYC procedures.

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Go to the course website.
Take the KYC quiz.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Watch a tutorial on economic sanctions

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Expand your knowledge of economic sanctions.

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Search for a tutorial on economic sanctions.
Watch the tutorial.

Create a presentation on the differences between money laundering and terrorist financing

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Deepen your understanding of the differences between money laundering and terrorist financing.

Browse courses on Money Laundering

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Research the differences between money laundering and terrorist financing.
Create a presentation on your findings.

Write a report on a money laundering case

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Apply your knowledge of money laundering to a real-world case.

Browse courses on Money Laundering

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Choose a money laundering case to research.
Gather information about the case.
Write your report.

Develop an AML policy for a small business

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Apply your knowledge of AML to a practical project.

Browse courses on Anti-Money Laundering

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Choose a small business to develop an AML policy for.
Research AML policies.
Draft an AML policy for the small business.

Career center

Learners who complete Anti-Money Laundering Concepts: AML, KYC and Compliance will develop knowledge and skills that may be useful to these careers:

Anti-Money Laundering Analyst

Anti-Money Laundering Analysts investigate financial transactions to detect and report suspicious activities that may be related to money laundering or terrorist financing. Their work contributes to ensuring the integrity of the financial system and combating financial crime. This course provides a comprehensive foundation in anti-money laundering concepts, including money laundering methods, terrorist financing techniques, and customer due diligence procedures. By completing this course, individuals can enhance their knowledge and skills in identifying and reporting suspicious transactions, which is essential for success in this field.

See salaries and explore the career path for Anti-Money Laundering Analyst

Financial Compliance Officer

Financial Compliance Officers ensure that financial institutions comply with anti-money laundering and other regulatory requirements. They monitor financial transactions, review customer due diligence documentation, and develop and implement compliance programs. This course provides a strong foundation in anti-money laundering policies and procedures, including KYC (Know Your Customer) and customer due diligence. By completing this course, individuals can gain the knowledge and skills necessary to effectively manage compliance risks and ensure regulatory compliance.

See salaries and explore the career path for Financial Compliance Officer

Forensic Accountant

Forensic Accountants investigate financial transactions to uncover fraud, money laundering, and other financial crimes. They analyze financial data, interview witnesses, and provide expert testimony in legal proceedings. This course provides a solid foundation in anti-money laundering concepts, including money laundering methods and techniques, as well as customer due diligence procedures. By completing this course, individuals can enhance their understanding of financial crime and develop the skills necessary to investigate and prevent it.

See salaries and explore the career path for Forensic Accountant

Compliance Manager

Compliance Managers oversee the development and implementation of compliance programs within organizations. They ensure that organizations comply with all applicable laws, regulations, and industry standards. This course provides a comprehensive overview of anti-money laundering and compliance best practices. By completing this course, individuals can gain the knowledge and skills necessary to effectively manage compliance risks and ensure regulatory compliance in various industries.

See salaries and explore the career path for Compliance Manager

Regulatory Risk Analyst

Regulatory Risk Analysts assess the risks associated with regulatory compliance and develop strategies to mitigate those risks. They monitor regulatory changes, identify potential risks, and provide guidance to organizations on how to comply with applicable regulations. This course provides a strong foundation in anti-money laundering regulations and compliance best practices. By completing this course, individuals can gain the knowledge and skills necessary to effectively assess and mitigate regulatory risks in the financial industry.

See salaries and explore the career path for Regulatory Risk Analyst

AML Specialist

AML Specialists are responsible for identifying, investigating, and reporting suspicious financial transactions that may be related to money laundering or terrorist financing. They work closely with law enforcement and regulatory authorities to combat financial crime. This course provides a comprehensive overview of anti-money laundering concepts, including money laundering methods, terrorist financing techniques, and customer due diligence procedures. By completing this course, individuals can gain the knowledge and skills necessary to effectively identify and report suspicious transactions and contribute to the fight against financial crime.

See salaries and explore the career path for AML Specialist

Fraud Investigator

Fraud Investigators investigate and prevent fraud, waste, and abuse within organizations. They analyze financial data, interview witnesses, and provide expert testimony in legal proceedings. This course provides a solid foundation in anti-money laundering concepts, including money laundering methods and techniques, as well as customer due diligence procedures. By completing this course, individuals can enhance their understanding of financial crime and develop the skills necessary to investigate and prevent it.

See salaries and explore the career path for Fraud Investigator

Risk Analyst

Risk Analysts assess the risks associated with various business activities and develop strategies to mitigate those risks. They analyze data, identify potential risks, and provide guidance to organizations on how to manage those risks effectively. This course provides a strong foundation in anti-money laundering regulations and compliance best practices. By completing this course, individuals can gain the knowledge and skills necessary to effectively assess and mitigate risks in the financial industry.

See salaries and explore the career path for Risk Analyst

Auditor

Auditors examine financial records and provide independent assurance on the accuracy and completeness of financial statements. They also assess the effectiveness of internal controls and compliance with applicable laws and regulations. This course provides a solid foundation in anti-money laundering concepts, including money laundering methods and techniques, as well as customer due diligence procedures. By completing this course, individuals can enhance their understanding of financial crime and develop the skills necessary to audit organizations for compliance with anti-money laundering regulations.

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Financial Planner

Financial Planners help individuals and families manage their finances and plan for the future. They provide advice on investments, retirement planning, and estate planning. This course may be helpful for Financial Planners who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Financial Planners can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their clients from financial crime.

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Tax Accountant

Tax Accountants prepare and file tax returns for individuals and businesses. They also advise clients on tax laws and regulations. This course may be useful for Tax Accountants who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Tax Accountants can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their clients from financial crime.

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Investment Banker

Investment Bankers advise corporations and governments on mergers and acquisitions, capital raising, and other financial transactions. This course may be useful for Investment Bankers who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Investment Bankers can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their clients from financial crime.

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Private Equity Investor

Private Equity Investors invest in private companies and help them grow. This course may be useful for Private Equity Investors who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Private Equity Investors can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their investments from financial crime.

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Venture Capitalist

Venture Capitalists invest in early-stage companies and help them grow. This course may be useful for Venture Capitalists who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Venture Capitalists can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their investments from financial crime.

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Financial Analyst

Financial Analysts analyze financial data and make recommendations on investments. This course may be useful for Financial Analysts who want to enhance their understanding of anti-money laundering regulations and best practices. By completing this course, Financial Analysts can gain the knowledge and skills necessary to identify and report suspicious transactions and protect their clients from financial crime.

See salaries and explore the career path for Financial Analyst