FATF Recommendations on High Risk Customers and Activities from Udemy

Do you know that the biggest challenge for financial institutions is to identify and manage Money Laundering Risks, Terrorist Financing Risks, and related activities?

Do you know why companies and institutions are being penalized by regulators?

How do financial institutions manage the risk of money laundering and terrorist financing? What is Financial Action Task Force FATF?

FATF Recommendations help organizations in combating money laundering, terrorist financing, and proliferation financing (funding for weapons of mass destruction), BUT Do you know, what the Financial Action Task Force (FATF's) Recommendations 12, and 13 are all about?

Millions of Dollars are spent by financial institutions in the world, on implementing controls and measures, to manage and mitigate Money Laundering ML and Terrorists Financing TF risks and threats.

About Course:

This course is designed to provide you with a practical insight into Anti Money Laundering AML and Countering Financing of Terrorism CFT, and an overview of FATF's Recommendations No. 12 and 13, which are related to PEPs, and Correspondent Banking.

FATF's recommendations 12 and 13, relate to additional measures for specific customers, and activities, and we shall cover:

Politically exposed persons (PEPs)
Correspondent banking relationship

In this course, you will also get an insight into how the Financial Institutions FIs are focusing on a strong compliance culture, to avoid/ manage the Money Laundering ML / Terrorist Financing TF risks to avoid penalties and reputation losses.

You will learn the:

- Money Laundering and Terrorist Financing with Examples

- Anti Money Laundering AML Measures

- Overview of FATF's Risk-Based Approach RBA

- Customer Due Diligence Measures

- Enhanced Customer Due Diligence EDD

- Overview of High-Risk Jurisdictions, Most Serious Jurisdictions, and Jurisdictions under Increased Monitoring by FATF

- Overview of FATF Recommendations 12 and 13

- Politically Exposed Persons PEPs and related ML/TF risk factors

- Correspondent Banking Relationship and related ML/TF risk factors

- Practical Examples

After attending this course you will be able to confidently talk and communicate with compliance, AML / CFT professionals, audit, and other related professionals.

Who is this course for:

Compliance professionals and students
Regulatory Compliance professionals
Risk management professionals and students
Internal audit professionals and students
Internal controls professionals
Finance professionals and students
CAMS, AML/CFT students
ACCA, CPA, CGA, CMA students

What's inside

Learning objectives

Money laundering activities and anti money laundering aml measures
Overview of high-risk jurisdictions, and most serious jurisdictions by fatf
Overview of risk based approach rba, as per financial action task force (fatf)

Overview of fatf's recommendations on high risk customers - politically exposed persons (peps)
Overview of fatf recommendations for high risk activities - correspondent banking relationship

Money laundering activities and anti money laundering aml measures
Overview of high-risk jurisdictions, and most serious jurisdictions by fatf
Overview of risk based approach rba, as per financial action task force (fatf)
Overview of fatf's recommendations on high risk customers - politically exposed persons (peps)
Overview of fatf recommendations for high risk activities - correspondent banking relationship

Syllabus

Introduction

Introduction of the Course

Course Instructor Introduction

Money Laundering and Examples

Money Laundering Activities Example

Hiding Illegal Funds and Income

How a Financial System Is Used By Criminals

Money Laundering Example 1

Money Laundering Example 2

Money Laundering Example 3

Organizations and Institutions Exposed to ML/TF

Anti Money Laundering Measures and Practices to be implemented by Institutions

What is Anti Money Laundering AML

Institutions Required To Build AML Controls

In this you will learn about FATF and the important recommendations of FATF for High Risk Customers which are summarized in this Section.

Introduction to Financial Action task Force FATF

High Risk Customer and Activity - FATF

Let's discuss the High Risk Jurisdiction/Country and the Most Serious Country/Blacklisted Country. We will discuss the overview of what FATF suggests for High-Risk Countries and Most Serious/Blacklisted Countries to the member countries.

FATF may classify a jurisdiction, under the list of "jurisdiction under increased monitoring". Let's discuss the overview of it in this lecture.

FATF's Risk Based Approach

Customer Due Diligence CDD Measures

High Risk Customers PEPs

In this lecture, we will discuss the Foreign PEPs and Domestic PEPs with examples.

Money Laundering and Terrorist Financing Risks Attached With PEPs

FATF's Recommendations for PEPs

FATF's Recommendation for PEPs - Example

FATF's Recommendations for PEPs - Example 2

Correspondent Banking Relationship

Correspondent Banking Relationship - Example 1

Correspondent Banking Relationship - Example 2

FATF's Recommendations for Correspondent Banking Relationship

High Risk Activity in Correspondent Banking - Example

FATF's Recommendations for High Risk Correspondent Banking Relationships

Ongoing Monitoring and Actions by Correspondent Bank

Quiz FATF Recommendations AML CFT

Knowledge Test Questions on AML CFT and FAFTF Recommendations

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops skills in Anti Money Laundering AML Counter Financing of Terrorism CFT and understanding of FATF's Recommendations No. 12 and 13 related to PEPs and Correspondent Banking

Provides practical insight into an overview of FATF's Recommendations No. 12 and 13 which are related to Politically Exposed Persons and Correspondent Banking

Explores the impact of Politically Exposed Persons and Correspondent Banking Relationship on Money Laundering ML and Terrorist Financing TF risks

Examines real-world examples of Money Laundering and Terrorist Financing, helping students connect abstract concepts to practical application

Explores the concept of High-Risk Jurisdictions, Most Serious Jurisdictions, and Jurisdictions under Increased Monitoring by FATF, providing insight into the global regulatory landscape

Career center

Learners who complete FATF Recommendations on High Risk Customers and Activities will develop knowledge and skills that may be useful to these careers:

Compliance Analyst

Compliance Analysts are the watchdogs of the financial industry, ensuring that financial institutions adhere to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This course provides a comprehensive overview of FATF's Recommendations 12 and 13, which are critical for understanding the enhanced due diligence measures required for high-risk customers and activities. By understanding these recommendations, you can build a strong foundation for a successful career as a Compliance Analyst.

See salaries and explore the career path for Compliance Analyst

AML Analyst

AML Analysts play a vital role in preventing money laundering and terrorist financing by identifying and reporting suspicious financial transactions. This course provides in-depth knowledge of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the skills necessary to effectively monitor and analyze financial transactions for potential risks. Gaining expertise in these recommendations will enhance your credibility and marketability as an AML Analyst.

See salaries and explore the career path for AML Analyst

Financial Crime Investigator

Financial Crime Investigators are responsible for investigating financial crimes, such as money laundering and terrorist financing. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the analytical and investigative skills necessary to uncover and prosecute financial crimes. By mastering these recommendations, you can excel in your role as a Financial Crime Investigator.

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Regulatory Compliance Manager

Regulatory Compliance Managers oversee the development and implementation of compliance programs within financial institutions. This course provides a thorough understanding of the FATF's Recommendations on High-Risk Customers and Activities, which are essential for ensuring compliance with AML/CTF regulations. By gaining expertise in these recommendations, you can effectively manage compliance risks and protect your organization from legal and reputational damage.

See salaries and explore the career path for Regulatory Compliance Manager

Risk Analyst

Risk Analysts assess and mitigate risks faced by financial institutions, including money laundering and terrorist financing risks. This course provides a comprehensive overview of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the skills necessary to identify, evaluate, and manage these risks effectively. By mastering these recommendations, you can enhance your credibility and value as a Risk Analyst.

See salaries and explore the career path for Risk Analyst

Internal Auditor

Internal Auditors evaluate the effectiveness of internal controls and compliance programs within organizations. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, which are critical for assessing the adequacy of AML/CTF controls. By gaining expertise in these recommendations, you can enhance your ability to identify and mitigate compliance risks, contributing to the overall effectiveness of your organization's internal audit function.

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Forensic Accountant

Forensic Accountants investigate financial crimes, such as money laundering and terrorist financing, by analyzing financial data. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the skills necessary to trace and analyze financial transactions for potential criminal activity. By mastering these recommendations, you can enhance your credibility and expertise as a Forensic Accountant.

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Compliance Officer

Compliance Officers ensure that organizations comply with laws, regulations, and ethical standards. This course provides a thorough understanding of the FATF's Recommendations on High-Risk Customers and Activities, which are essential for developing and implementing effective compliance programs. By gaining expertise in these recommendations, you can effectively manage compliance risks and protect your organization from legal and reputational damage.

See salaries and explore the career path for Compliance Officer

Anti-Money Laundering Specialist

Anti-Money Laundering Specialists are responsible for developing and implementing AML programs within financial institutions. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, which are essential for designing and managing effective AML programs. By gaining expertise in these recommendations, you can enhance your credibility and value as an Anti-Money Laundering Specialist.

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

Financial Intelligence Analyst

Financial Intelligence Analysts analyze financial data to identify and investigate financial crimes, such as money laundering and terrorist financing. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the skills necessary to effectively analyze financial transactions and identify potential criminal activity. By mastering these recommendations, you can enhance your credibility and expertise as a Financial Intelligence Analyst.

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Bank Examiner

Bank Examiners assess the safety and soundness of financial institutions. This course provides a comprehensive overview of the FATF's Recommendations on High-Risk Customers and Activities, which are critical for evaluating the effectiveness of AML/CTF controls within financial institutions. By gaining expertise in these recommendations, you can enhance your ability to identify and mitigate compliance risks, contributing to the overall stability of the financial system.

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Law Enforcement Officer

Law Enforcement Officers investigate and prosecute financial crimes, such as money laundering and terrorist financing. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, enabling you to develop the skills necessary to effectively investigate and prosecute these crimes. By mastering these recommendations, you can enhance your credibility and expertise as a Law Enforcement Officer.

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Policy Analyst

Policy Analysts develop and analyze policies related to financial crimes, such as money laundering and terrorist financing. This course provides a comprehensive understanding of the FATF's Recommendations on High-Risk Customers and Activities, which are critical for informing policy decisions and shaping the regulatory landscape. By gaining expertise in these recommendations, you can enhance your ability to contribute to the development of effective AML/CTF policies.

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Financial Advisor

Financial Advisors provide financial advice and guidance to clients. This course may be useful for Financial Advisors who want to enhance their understanding of AML/CTF regulations and best practices. By gaining a solid foundation in the FATF's Recommendations on High-Risk Customers and Activities, you can better assist your clients in managing their financial risks and protecting their assets.

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Auditor

Auditors evaluate the accuracy and completeness of financial records. This course may be useful for Auditors who want to enhance their understanding of AML/CTF regulations and best practices. By gaining a solid foundation in the FATF's Recommendations on High-Risk Customers and Activities, you can better assess the effectiveness of AML/CTF controls and identify potential compliance risks.

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FATF Recommendations on High Risk Customers and Activities

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