Anti-Money Laundering, Countering Financing of Terrorism and Combating Proliferation Financing (AML/CFT/CPF) Training
This course covers the subject(s) of money laundering, terrorist financing and proliferation financing for the real estate sector. It delves into what they are, their history, how they are done and how to counter them.
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AML/CFT/CPF and Sanctions in fundamentals in Insurance
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Regulatory Framework – Global standards (FATF) and local regulations for insurance.
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Know Your Customer (KYC), Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD
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Politically Exposed Persons (PEPs) and High -Risk Customers
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Suspicious Transaction Monitoring and Reporting
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ML/TF/PF Risks for the Insurance Sector
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Risk Based Approach
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Internal Controls & Governance, Responsibilities and Obligations
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Sanctions and Screening
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Risk Assessment
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Technology in AML/CFT/CPF
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Case Studies & Lessons Learned – Real-world examples and best practices.
Curriculum
- 10 Sections
- 69 Lessons
- 8 Quizzes
- 2h Duration
Financial Crimes Overview
2 Lessons
- Table of Abbreviations & Acronyms
- Introduction to Financial Crimes
Money Laundering
9 Lessons1 Quiz
- Money Laundering
- Stages of Money Laundering (ML)
- History of Money Laundering
- Predicate Offenses which Generate Illicit Funds
- The Economic & Social Effects Of Money Laundering
- Economic & Social Effects Of Money Laundering (Cont.)
- Why Launder Money?
- Methods of Money Laundering in Insurance
- FATF Case Study: Reinsurance
- Knowledge Check 1 – Money Laundering
Terrorism Financing
5 Lessons
- Terrorism Financing
- Terrorist Attacks – Closer Home
- Terrorist Attacks – 1999 Lusaka Bombings
- Stages of Terrorism Financing
- The Anti-Terrorism and Non-Proliferation Act, 2018 – Obligations
Proliferation Financing
7 Lessons1 Quiz
- Proliferation Financing (PF)
- Stages of Proliferation Financing
- Dual-use Goods
- How Insurance Can Be Exploited for PF
- FATF Case Study: Terrorist Financing
- Key Indicators of TF and PF
- Money Laundering vs Terrorism Financing vs Proliferation Financing - A comparative analysis
- Knowledge Check 2 – TF & PF
Sanctions
10 Lessons1 Quiz
- What are Sanctions?
- Comprehensive Sanctions
- Sectoral Sanctions
- Sanctions Evasion Techniques
- Sanctions Screening
- How to Mitigate Terrorism, Proliferation and Sanctions Risks
- Sanctions Screening for the Insurance Sector
- Consequences of breaching Sanctions
- Targeted Financial Sanctions on Terrorism & Proliferation Financing
- Enforcement Action - ALICO, MetLife Subsidiary
- Knowledge Check 3 – Sanctions
Regulatory Framework
12 Lessons1 Quiz
- Global Regulatory Landscape
- FATF Member Countries
- FATF-Style Regional Bodies
- African Regulatory Landscape: FATF-Style Regional Bodies (GIABA – West Africa)
- African Regulatory Landscape: FATF-Style Regional Bodies (MENAFATF – North Africa)
- African Regulatory Landscape: FATF-Style Regional Bodies (ESAAMLG – East & South Africa)
- African Regulatory Landscape: FATF-Style Regional Bodies (GABAC – Central Africa)
- Zambia's AML/CFT/CPF Regulatory Landscape
- Applicable AML/CFT/CPF Regulators
- Accountable Institution Guidelines 2023 - Obligations
- Offences/Penalties for Non-Compliance with AML Act
- Penalties under the Anti-Terrorism and Non- Proliferation Act
- Knowledge Check 4 – Regulatory Obligations
Customer Due Diligence (CDD/KYC)
10 Lessons1 Quiz
- What does Customer Due Diligence (CDD) involve?
- When should CDD be performed?
- Levels of Due Diligence
- Enhanced Due Diligence (EDD)
- Commonly Considered High Risk Clients
- Handling High Risk Clients
- Politically Exposed Persons (PEPs)
- Examples of Politically Exposed Persons (PEPs)
- Adverse Media Mentions
- Enforcement Action : Harry Findlay — Terrorism Financing
- Knowledge Check 5 – CDD
Suspicious Transaction Monitoring & Reporting
7 Lessons1 Quiz
- Transaction Monitoring
- Suspicious Transaction Reports
- Identifying Suspicious Activity
- Reporting Suspicious Activity
- The Escalation & Reporting Pathway
- Suspicious Activity Reports vs Cash Transaction Reports
- Case Study: Illicit Flows in the Insurance Sector - Zambia
- Knowledge Check 6 – Transaction Monitoring, SAR/STR, CTR
ML/TF/PF Risks for the Insurance Sector
7 Lessons1 Quiz
- Common ML/TF/PF Risks in Reinsurance
- Common Pitfalls in African Reinsurance Operations
- ML, TF and PF Typologies in Insurance
- Red Flags in ML/TF/PF for Insurance
- Mitigating ML/TF/PF Risks in Insurance
- What happens when we get it wrong?
- Enforcement Action - AIA International (Hong Kong)
- Knowledge Check 7 – ML/TF/PF Risks for the Insurance Sector
Quiz
1 Quiz
- Final Quiz
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