Money Laundering

• What is Money Laundering?
• Prevention of Money Laundering Act (PML Act)
• Tainted Money or Dirty Money
• Transfer of funds and washing of “Dirty” Money
• Global phenomenon

Money Laundering: Some Methods used

• Process of Money Laundering: Placement, Layering, Integration
• Methods used in Money Laundering
• Sources of tainted money
• Common techniques employed

Legislation and international cooperation

• Legislations in various countries against money laundering
• Financial Action Task Force (FATF)
• Anti Money Laundering measures in India
• Tools required for prevention of Money Laundering

Role of correspondent banking

• Information on Correspondent Bank
• Anti money laundering policies of the correspondent bank

Know Your Customer – Historical Perspective

• Customer Profile
• KYC Policies and RBI initiative
• Some basic definitions and KYC origination
• Transaction Profile screening
• Organizational Structure in the bank

KYC – Operating Guidelines

• Customer Identification
• Account opening process
• Accounts of Companies – Limited Companies, Proprietorship, Partnerships
• Trusts, fiduciary relations, professional intermediaries
• Joint Accounts
• Suggested safegaurds
• Existing Accounts
• Inoperative Accounts
• Monitoring of Accounts

Internal Control and structure in banks

• Roles and responsibilities of the Principal Officer
• Roles and responsibilities of the staff
• Roles and responsibilities of Internal Audit and Controls

Customer Risk Categorization (CRC)

• Customer Risk
• Need for Customer Risk Categorization
• Customer Acceptance Policy (CAP)
• Customer Identification Procedures
• Customer due diligence

Reporting Obligations

• Cash transaction reporting (CTR)
• Counterfeit Currency Reporting (CCR)
• Suspicious Transaction Report (STR)

Transaction Monitoring

• Methods of monitoring
• Suspicious transactions
• Name Screening process
• Wire Transfers
• Preservation of records

Staff and Customer Awareness

• Training methods
• Assessments
• Records of training
• Importance of creating customer awareness

Apply for Certification

http://www.vskills.in/certification/Certified-AML-KYC-Compliance-Officer