AML Training

AML Training

AML Training

AML/CFT compliance programs also include AML training programs for employees to make them aware of the significance of AML for their business operations. Organizations must conduct relevant AML training for their employees to explain their roles and responsibilities under AML compliance programs. Such AML-related training enables the employees to become capable of detecting suspicious transactions, conducting customer identification, identifying risks for their business type, and understanding implications of relevant rules and regulations.

There are several regulations and laws related to AML and CFT Policy in every country and international guidelines across the globe. With new risk avenues that give rise to money laundering and terrorist financing activities, such laws and guidelines also witness frequent modifications and adjustments. Accordingly, companies frame their AML and CFT programs to abide by the laws and remain AML-compliant always.

Seamless. Simple. Scalable.

We meet your AML training requirements with our robust corporate training solutions to make your business AML compliant, efficient, and secure from financial crimes.
Contact us now

About Afinur

Afinur is an expert provider of AML compliance consulting services, including relevant AML/CFT Risk training for your employees. We provide customized training based on the industry of your business operations since there are different guidelines for each vertical and risk exposure differs. Our tailor- made AML training program for your employees makes your organization capable enough to handle AML compliance requirements so that you become safe from any possibilities of money laundering and terrorism financing activities.

If you are a bank, financial institution, insurance company, real estate firm, a dealer in precious metals and stones, a legal practitioner, and any other designated non-financial business that falls under the AML laws, we have you covered. We conduct in-house compliance training for your employees in the AML department or related functions to keep you up-to-date with the laws, new expectations from the organizations in terms of AML compliance programs, and international best practices. Businesses in Africa can enroll for such AML/CFT specific training conducted by our expert team of regulators, compliance professionals, and AML specialists.

AML Training Services

With the AML compliance department in place, it is also essential to have employees with skills in AML-specific work and risk management expertise to handle the related responsibilities. Specifically, the risk profiling skills are vital to have for organizations to identify the risks that their business faces and mitigate them as soon as possible. We carry out AML training for the following topics:

KYC due diligence

We provide extensive training on KYC Due Diligence so that the employees are aware of what information is required to be collected, what are the different ways of collecting information, and how to ensure security and confidentiality of collected information.

Enhanced due diligence

Enhanced due diligence is one of the key requirements of the AML compliance program. We train employees on enhanced due diligence so that they can effectively identify circumstances in which enhanced due diligence is required. Further, we train them on what to look for in customer’s financials to understand the sources of funds.

STR

We provide training on STR filing, dos and don’ts to empower employees in identifying suspicious transactions, customers, vendors, and any other business partners that may expose the business to money laundering and terrorism financing risks.

Record keeping

Each organization is required to maintain its AML records for a period of 5 years. The records can be maintained manually or in a document management system. We train employees on this important aspect so that records are maintained in compliance with the requirements of AML laws and regulations.

AML awareness

We provide training on AML awareness so that the employees can understand the laws, rules, regulations, norms, guidelines, notifications, and circulars related to AML and CFT and the implications of each point on their business, considering the policies required to be planned to fight money laundering and terrorist financing activities.

AML/CFT best practices

We make them aware of the best practices of AML and CFT compliance programs used in various organizations across the globe that they could adopt in their AML/CFT strategy and action plans.

Why Afinur?

1- Afinur understands your unique requirements related to AML and CFT because of different industry verticals. Therefore, we create customized training programs for your employees to make them understand the basics pertaining to the implications of AML laws on your business.

2- Our corporate training programs are up-to-date to factor in the current trends in AML and CFT compliance programs and international best practices in AML policies and internal controls so that your business obtains full benefits.

3- We boast a team of eminent regulators, compliance experts, legal professionals, business consultants, risk management specialists, law enforcement officials, financial institution auditors, policymakers, and strategists with far-reaching knowledge and diversified experience in various industry verticals.

4- We serve the corporate training needs of different industry clients, including banks, financial institutions, insurance companies, investors, real estate brokers, law firms, dealers of precious stones, and many others.

5- Our corporate training in AML and CFT topics makes you capable enough to understand the AML laws, obtain relevant insights from the industry standards, develop and monitor efficient AML and CFT internal control systems, and hence, achieve AML compliance.

Focused. Flexible. Relevant.

Intelligent, all-encompassing AML training for your business just a call away.
Contact us now

FAQs - AML Compliance Training

Want to get rid of money laundering and terrorist financing risks? Get our corporate AML-related training solutions.
AML training is being conducted for employees and senior management of companies to make them aware of money laundering and its risks. It includes learning to identify suspicious activities, understand the rules, study industry-specific provisions and actions required, and conduct KYC and CDD/EDD.
AML training is important to make the employees understand how money laundering and terrorism financing can affect their company. It helps organizations comply with the relevant regulatory obligations, identify ML and TF risks, and implement sturdy policies and procedures to save their company from negative impact.

The AML regulations of Africa have made AML training a compliance requirement for financial institutions and DNFBPs. The compliance officer must create relevant AML/CFT training programs and conduct them for employees to help fight financial fraud in the country.

Companies must conduct AML training annually for all the employees and senior management. For employees handling the customer onboarding process, payment approvals, and dealing with highly risky industries, the training must happen quarterly or half-yearly.
Training forms the basis for a successful AML/CFT compliance program. A customized AML training program addressing your business activities goes a long way in ensuring full-proof AML compliance. Employees are an organization’s first defence against ML/TF perpetrators. Employees can keep themselves updated on the latest amendments in the law and apply best practices in their day-to-day dealings with customers to minimize the risks.
All employees must be given anti-money laundering training and guidance. But, employees in direct contact with customers, audit department, payments processing function, senior management, and directors must be imparted enhanced due diligence training.
Anti-money laundering training for companies and their employees must be conducted at least once a year. Once a quarter for high-risk industries and relevant employees would help a lot.
Annual AML KYC training is essential for all employees in a company. But departments and functions that are highly risky or deal with external parties must have quarterly anti-money laundering training.
AML training empowers employees with the proper knowledge to identify red flags and suspicious transactions. It makes them aware of their legal obligations to recognize and report suspicious transactions.

Our AML/CFT Training Program covers the following topics:

  • What is AML/CFT
  • goAML Registration and goAML Portal
  • Business Risk Assessment (BRA)
  • AML Compliance Program
  • KYC
  • Customer Due Diligence/EDD (PEPs and High Risk)
  • SAR and STR Reporting
  • Targeted Financial Sanctions
  • Ultimate Beneficiary Owner
  • Compliance officer Roles & Responsibilities
  • UAE Regulations on AML/CFT
  • Intergovernmental Regulatory Roles
  • Effects of ML International Bodies – FATF etc
  • Statutory Obligations of Supervised Bodies
  • Record Keeping
  • Red Flags
Contact us now
News

Our latest blogs

Hello World!

Welcome to WordPress! This is your first post. Edit or delete it to take the first step in your blogging journey.