Anti-Money Laundering – USA

Product Description

In an increasingly interconnected world economy, organizations of all sizes are becoming increasingly vulnerable to being used for money laundering and terrorist financing. Since financial institutions are particularly susceptible, they face wide-ranging reporting and monitoring requirements under federal law.

GRC Solutions’ Anti-Money Laundering training for USA equips staff to respond to these challenges, by helping learners to identify common money laundering techniques, such as placement, layering, and integration, and to apply strategies for protecting your organization.

This course explores the risk that money launders pose, outlines the KYC and due diligence obligations of financial institutions, and explains requirements under terrorist financing law. We also give learners practical tips on how to assess customer risk and monitor suspicious activity.

This coursecovers topics from initial customer identification procedures to development and implementationof anti-money laundering programs.

There are plenty of examples, case studies, and scenarios. The design uses rich, interactive visuals that highlight the key concepts without overwhelming or distracting learners.

Who should do this training?

This training is suitable for employees of financial institutions that offer: bank account-related services, loans or finance, currency exchange, investment banking, credit cards and money instruments, insurance, or securities, futures, or commodities trading.

Scenario

Robert Howard comes into ABC Bank and wants to deposit $25,000 into his account. He has been a customer of ABC Bank for 25 years and has always been classified as low-risk.

But recent transaction monitoring by ABC Bank has revealed large amounts of money being withdrawn out of his account. Some of the money has been transferred to low-interest accounts and then withdrawn to be used. These withdrawals are unusual for Robert’s account, which has had little activity for 25 years.

The only information ABC Bank possesses about Robert is that he owns two restaurants, a nightclub and a car wash.

What level of money laundering risk does Robert pose

Other Anti-Money Laundering Training

Anti-money laundering and counter-terrorism financing laws vary from jurisdicion to jurisdiction.

We offer

Specialist AML Training

Financial Crimes Compliance Training

GRC Solutions offers a suite of online complilance training, compliance tools, and workshop and consulting facilities to assist organisations to harden their operations against the threat of financial crime.

More information here

Course Outline

Module 1: Introduction to money laundering
Module 2: The risk of money laundering
Module 3: KYC obligations
Module 4: Suspicious and threshold transactions
Module 5: Terrorist financing

Customise Course

Do you have a policy or process, or some subject-matter expertise that you would like to add to this course?
Talk to us about ways we can quickly tailor the course to suit your needs.

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"As a subscriber to the GRC Solutions weekly compliance bulletins, the BankVic team has found these a valuable resource for keeping up-to-date with new and changed regulatory and code obligations that affect the mutual banking industry, and how these changes might impact our organisation"

Compliance Manager at BankVic

"The project was extremely positive for both organisations. The GRC Solutions team delivered a visually impactful bespoke learning solution that met HCF requirements… on budget and ahead of deadline."

Compliance Manager at HCF

"I think that this was one of the best modules ever! Whoever created this module should be congratulated over and over. The fact that I have just spoken with a teacher who was having the very difficulties made the module more helpful. Once again thank you."

Pastoral Care, Mercedes College

“The ‘Adaptive’ learning feature is fantastic! It gives learners a sense of control of how they wish to learn and the opportunity to re-confirm/validate their existing knowledge.

The training content is easy to follow, with the use of case studies and relevant scenarios to demonstrate to learners how the content is applied in real life. As a Salt platform Administrator, my experience is made easy with the range of reports available and the patience and support of the GRC Support team, who are always ready and willing to help.”

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Risk, Safety & Compliance Officer, Mercy Education Limited

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GRC Solutions’ team of legal, educational and technology specialists, working in partnership with our clients, win multiple awards, including Best Compliance Training Project at LearnXLive every year for over ten years. Imagine what we can do when we work with you!