Anti-Money Laundering

For Canadian financial professionals

What you'll learn

Understand the fundamental steps that criminals take to launder money

Understand how your company is vulnerable to money laundering and terrorist financing

Understand how to detect and deter money laundering and terrorist financing activities

Understand your regulatory obligations, policies and procedures to combat money laundering and terrorist financing

Requirements

No prior experience required. The course is intended for individuals already working in the financial services industry, but the course requires no prior knowledge.

Description

This is anti-money laundering (AML) training – a compliance course designed for people who don’t particularly get excited about AML compliance training, but have to take it anyway, in order to satisfy compliance requirements set out by Financial Transactions and Reports Analysis Centre of Canada, better known as FINTRAC.This is all driven by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), Canada’s federal laws to “facilitate combatting the laundering of proceeds of crime and combatting the financing of terrorist activities.”So, in order for your company to stay operational, and keep making bank, it needs to show FINTRAC that it has a kickass compliance program. And in order for a compliance program to be kickass, it needs to have FIVE things: An appointed compliance officer; written compliance policies and procedures; a proper risk assessment of your company’s business activities and relationships; a written, ongoing compliance training program; and an effectiveness review of the company’s overall compliance program, in order to ensure it is doing everything it can to detect and prevent money laundering and terrorist financing activities.The course is designed for Canadian financial entities, securities dealers and life insurance companies. And after the course, you’ll know: How your company is vulnerable to money laundering;How to detect and deter money laundering and terrorist financing activities;Your regulatory obligations, policies and procedures to combat money laundering and terrorist financing; Know Your Client (KYC) requirements;When to identify individuals;Beneficial ownership requirements;Confirming the existence of an entity;Politically exposed persons; andOngoing and enhanced monitoring.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 Understanding AML

Section 2: How to Launder Money

Lecture 3 How to Launder Money Part I: The Basics

Lecture 4 How to Launder Money Part II: Staying Under the Radar

Lecture 5 How to Launder Money Part III: Strategy

Section 3: Terrorist Financing

Lecture 6 Understanding Terrorist Financing

Section 4: Reporting Requirements and Red Flags

Lecture 7 Understanding Reporting Requirements

Lecture 8 Reporting Suspicious Transactions

Lecture 9 Red Flags of Money Laundering and Terrorist Financing

Lecture 10 Red Flags for Securities Dealers

Lecture 11 Red Flags for Insurance Companies

Section 5: Know Your Client

Lecture 12 Why it Matters to Know Your Client

Lecture 13 Privacy and Personal Information

Lecture 14 Beneficial Ownership Requirements

Lecture 15 Third Party Determination Requirements

Lecture 16 Politically Exposed Persons

Lecture 17 Ongoing and Enhanced Monitoring

Section 6: Conclusion

Lecture 18 Conclusion

Anyone working or interested in working in Canada's financial services industry.