An Introduction to Money Laundering and Terrorist Financing, Sanctions and Regulations from edX

Gain a solid understanding of money laundering, terrorist financing and the sanctions regimes in place.

You will:

Understand what money laundering is and the methods used by launderers
Appreciate the risks associated with terrorist financing
Know the risks to businesses in the regulated sector from money laundering and terrorist financing and the legal obligation to report suspected money laundering or terrorist financing
Understand the international initiatives of three international bodies and the legal background to how regulation is structured
Know about the sanction regimes in place against individuals and jurisdictions involved in possible money laundering and terrorist financing.

This course is suitable for professionals with specific anti money laundering duties, operational or front-line staff or those considering embarking on a new career in AML.

What's inside

Learning objectives

This short course covers:
What is money laundering?
Why is money laundered?

How is money laundered?
Terrorist financing
Sanctions

This short course covers:
What is money laundering?
Why is money laundered?
How is money laundered?
Terrorist financing
Sanctions

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Read about what's good

what should give you pause

and possible dealbreakers

Provides a solid foundation in understanding money laundering, terrorist financing, and sanctions regimes, which is essential for compliance professionals

Explores international initiatives and the legal background to regulation, which is highly relevant for those working in global compliance

Details the risks to businesses in the regulated sector from money laundering and terrorist financing, which is crucial for risk management

Offered by the International Compliance Association, a well-known organization in the field of regulatory compliance and anti-money laundering

Reviews summary

Intro to aml, tf, sanctions

According to learners, this course offers a clear foundation in the basics of money laundering and terrorist financing. It provides a helpful overview of regulations and sanctions relevant to the field. While praised as an excellent starting point for newcomers, some reviewers indicate the depth is limited and it may be too basic for experienced professionals. Due to the dynamic nature of regulations, maintaining content currency is highlighted as important.

May need periodic updates.

"Given how fast regulations change, the course should be reviewed regularly."

"Important for content to be current; hope it gets updated."

"The materials seem mostly current, but this field is dynamic."

Covers key sanctions & rules.

"Appreciated the section on sanctions regimes; it's very relevant."

"The course gives a good summary of the international regulatory landscape."

"Helped me understand the legal obligations involved."

Explains basics effectively.

"Provides a very clear explanation of money laundering and terrorist financing."

"I finally understand the core concepts after taking this course."

"Excellent for someone just starting out in this field."

Lacks depth for experienced.

"Found it too high-level; I needed more detail on specific regulations."

"Good starting point, but doesn't go deep enough for practical application in complex cases."

"Useful overview, but not for advanced compliance professionals."

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 An Introduction to Money Laundering and Terrorist Financing, Sanctions and Regulations with these activities:

Review Basic Financial Concepts

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Reinforce foundational financial knowledge to better understand the complexities of money laundering and terrorist financing.

Browse courses on Financial Concepts

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Review key terms like assets, liabilities, equity, and cash flow.
Practice basic accounting principles.
Familiarize yourself with different types of financial institutions.

Review 'Wolfsberg Anti-Money Laundering Principles'

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Familiarize yourself with industry best practices and regulatory expectations for AML compliance.

View Oil and Gas in Africa on Amazon

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Download and review the Wolfsberg Anti-Money Laundering Principles document.
Identify key principles and their implications for financial institutions.
Consider how these principles relate to the concepts covered in the course.

Review 'The Laundromat' by Jake Bernstein

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Gain a deeper understanding of real-world money laundering schemes and the investigative process.

View The Laundromat on Amazon

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Read the book, paying attention to the methods used to launder money.
Take notes on the key players and organizations involved.
Reflect on the ethical and legal implications of the schemes described.

Four other activities

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Participate in a Mock AML Investigation

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Practice your AML investigation skills in a simulated environment with peers.

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Form a group with other students.
Create a hypothetical scenario involving suspected money laundering.
Assign roles (e.g., investigator, suspect, regulator) and conduct a mock investigation.
Debrief and discuss lessons learned.

Follow FATF Guidance Tutorials

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Deepen your understanding of international AML standards by studying FATF guidance materials.

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Visit the FATF website and locate guidance documents related to specific AML topics.
Follow tutorials or webinars that explain the guidance in detail.
Take notes on key recommendations and best practices.

Create a Presentation on Terrorist Financing Methods

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Solidify your understanding of terrorist financing by researching and presenting on different methods used by terrorist organizations.

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Research various terrorist financing methods, including Hawala, trade-based money laundering, and the use of charities.
Create a presentation outlining the methods, their risks, and potential countermeasures.
Present your findings to a peer or study group.

Develop a Sanctions Compliance Checklist

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Apply your knowledge of sanctions regimes by creating a practical checklist for ensuring compliance.

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Research different sanctions regimes and their requirements.
Develop a checklist that covers key compliance areas, such as customer screening, transaction monitoring, and reporting.
Test your checklist against hypothetical scenarios.

Career center

Learners who complete An Introduction to Money Laundering and Terrorist Financing, Sanctions and Regulations will develop knowledge and skills that may be useful to these careers:

Sanctions Specialist

A Sanctions Specialist focuses on the implementation and management of sanctions programs for financial institutions. This course provides the necessary knowledge regarding sanctions regimes against individuals and jurisdictions involved in money laundering and terrorist financing. This role is directly impacted by global initiatives and legal requirements, both of which are key topics in this course. The course is helpful for anyone interested in becoming a sanctions specialist because it specifically outlines the types of regimes that will affect a specialist's daily responsibilities.

See salaries and explore the career path for Sanctions Specialist

Anti-Money Laundering Analyst

An Anti Money Laundering Analyst investigates financial transactions for suspicious activity related to money laundering and terrorist financing. This course is particularly useful to a prospective analyst because it helps build knowledge of how money laundering occurs, the methods used, and the risks associated with terrorist financing. Gaining an understanding of regulatory frameworks and sanctions regimes helps with the daily tasks of an analyst, who must know how to identify and report activities that violate such regulations. The course content, especially the focus on international initiatives, is invaluable to an analyst working in global finance.

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

Compliance Officer

A Compliance Officer ensures that a company adheres to regulatory guidelines, including those related to financial crimes. This course, which provides a thorough understanding of money laundering, terrorist financing, and sanctions, helps build a strong foundation for someone aiming for this role. It specifically addresses international initiatives and legal obligations, equipping potential officers with the necessary knowledge to report suspicious activities and manage risks effectively. This particular course is beneficial as it is designed specifically for professionals with anti money laundering duties or those looking to transition to this career path.

See salaries and explore the career path for Compliance Officer

Financial Crime Consultant

A Financial Crime Consultant advises organizations on how to prevent and detect financial crimes like money laundering and terrorist financing. This course directly covers the material a consultant needs to know, such as money laundering methods, terrorist financing risks, and international regulatory initiatives. It is especially helpful because it provides an understanding of the legal obligations and reporting requirements that any consultant must be aware of. The course helps establish a strong foundation for a consultant aiming to help their clients mitigate these risks.

See salaries and explore the career path for Financial Crime Consultant

Operations Manager

An Operations Manager ensures that a business runs smoothly, which can include the implementation of financial crime prevention measures. This course provides the needed background in anti money laundering and terrorist financing, as well as the sanctions regimes and reporting requirements that a manager must be aware of. The knowledge of legal obligations and international initiatives gained in the course helps an operations manager build a more compliant and secure operation. This course is designed with operation staff in mind, making it a particularly good fit.

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Internal Auditor

An Internal Auditor evaluates a company's internal controls and processes to ensure they are effective and compliant, especially with regard to financial regulations. This course provides crucial knowledge of what money laundering and terrorist financing are, how these activities occur, and the risks associated with them, all of which is critical for an auditor. The legal and compliance training provided in the course, including information on international initiatives and sanctions regimes, is essential background for an effective internal auditor.

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Risk Analyst

A Risk Analyst assesses potential threats to an organization, and in the financial sector this frequently involves money laundering and terrorist financing. The understanding of the risks associated with these activities provided by this course, along with its coverage of sanctions, regulations, and legal obligations, is directly relevant to the role. This course specifically is useful as it covers the legal and operational elements needed to assess risk. This course helps an analyst learn how to identify and mitigate financial crime risks.

See salaries and explore the career path for Risk Analyst

Financial Investigator

A Financial Investigator examines complex financial records to detect fraud and illegal activity. This course may help prepare someone for such a career by providing insights into money laundering techniques and terrorist financing methods. The course's focus on international compliance and sanctions regimes is highly relevant, as financial crimes often cross borders. A financial investigator will require knowledge of reporting obligations and the legal landscape, skills that are covered in this course. Individuals taking this course gain a background in the types of illegal activities they will later be investigating.

See salaries and explore the career path for Financial Investigator

Due Diligence Analyst

A Due Diligence Analyst investigates the background of clients and business partners to ensure they are not involved in any illegal activities. This course may be particularly useful because it offers an in-depth look at money laundering and terrorist financing, including the methods used by criminals. This course provides a prospective analyst with the understanding of what to look for, as well as the international initiatives that are meant to prevent such illegal activities. The course will help a diligent analyst be more effective when investigating potential risks.

See salaries and explore the career path for Due Diligence Analyst

Fraud Examiner

A Fraud Examiner investigates allegations of fraud and financial wrongdoing, often involving money laundering. This course may be invaluable to a Fraud Examiner because it provides a detailed understanding of money laundering methods and how terrorist financing works. The course also covers sanctions regimes, which helps fraud examiners to understand the legal aspects of financial crimes. The course may be especially useful due to its targeted approach to real-world scenarios that a fraud examiner is likely to encounter. The material covered here can give a future fraud examiner the tools to succeed in the field.

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Financial Intelligence Officer

A Financial Intelligence Officer works in the public or private sector to gather and analyze financial data related to suspicious activities. This course may be helpful since it provides a strong foundation in how money is laundered, the methods used, and the risks associated with terrorist financing. Financial Intelligence Officers need to understand the international initiatives and regulatory backgrounds, both of which are addressed in this course. Financial intelligence work is often cross-jurisdictional, which makes the course's international focus highly attractive.

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Regulatory Affairs Specialist

A Regulatory Affairs Specialist ensures that a company complies with all applicable laws and regulations, particularly in financial services. This course may be useful because it covers the legal background to how regulation is structured, and the international initiatives related to money laundering, terrorist financing, and sanctions. This course's focus on reporting obligations and risk management helps a regulatory affairs specialist ensure that a company operates within the bounds of law. The material covered in this course is useful for someone looking to start or advance in this role.

See salaries and explore the career path for Regulatory Affairs Specialist

Policy Analyst

A Policy Analyst researches and develops policies related to financial crime and regulatory compliance. This course can provide a strong understanding of money laundering, terrorist financing, and the related sanctions regimes, which is helpful to inform the policy development process. This course specifically covers legal and international frameworks, which are necessary for creating robust and effective policies. The material in this course may be specifically tailored to a policy analyst working in the financial sector or a relevant public sector role.

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Treasury Analyst

A Treasury Analyst manages an organization's cash flow and financial risk, including those related to money laundering and terrorist financing. This course helps provide a critical understanding of these financial crimes and how to identify them. A Treasury Analyst must be aware of the legal frameworks and reporting requirements related to financial crimes, all of which are covered in this course. This course, while not explicitly about treasury, offers the insights necessary to help an analyst fulfill their duties.

See salaries and explore the career path for Treasury Analyst

Corporate Investigator

A Corporate Investigator examines internal issues like fraud, theft, and other types of financial misconduct. This course may be helpful as it provides a foundation in understanding money laundering, terrorist financing, and sanctions. Gaining an understanding of the methods used by money launderers, as well as the international legal frameworks, can help an investigator become more effective. While a corporate investigator's scope is broad, their work may touch on AML and terrorist financing, making this course a potentially valuable resource.

See salaries and explore the career path for Corporate Investigator

An Introduction to Money Laundering and Terrorist Financing, Sanctions and Regulations

What's inside

Learning objectives

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Reviews summary

Intro to aml, tf, sanctions

Activities

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