This course covers the nature of money laundering (ML) and terrorist financing (TF), how the offences of ML/TF are committed, how money is laundered, initiatives to prevent its commission and the laws, regulations and best practice.
The course provides you with all of the essential knowledge you need to establish a successful career in the field of anti-money laundering. The global nature of the world’s financial systems provides criminals with virtually unlimited opportunities to launder the proceeds of their crimes. It is the responsibility of individuals and professionals working within the wealth administration industry to try to prevent and report knowledge and suspicion of money laundering. If funds from criminal activity can be processed through a particular institution, the integrity, reputation, legality and financial viability of that firm and the sector within which it works can be seriously impacted.
You will be able to
- Recognise how and why criminal proceeds are laundered, including the three-stage model and its limitations.
- Have a broad understanding of the roles of the IMF, UN and World Bank as international standard setters in combating money laundering and terrorist financing.
- Understand the basic requirements of the FATF standards and 40 Recommendations, and how and why these have developed as they have.
- Understand the importance of a robust governance structure for money-laundering prevention, the responsibilities of the board/senior managemen.t and the clear allocation of roles and responsibilities throughout the organisation.
- Outline key risks relating to transaction monitoring and filtering activities and know how to use this knowledge in creating a risk-based transaction monitoring and filtering framework.
- Identify the problems that can arise from conflicts between legal obligations to report and the need to maintain customer confidentiality.
- Be familiar with the money laundering vulnerabilities of specific financial services and products, such as bank accounts and wire transfers.
The course is designed for those who work in the international private wealth management field and those who are looking to develop their understanding of anti-money laundering. The course will particularly benefit those whose roles involve compliance, regulatory matters, internal audit and money laundering reporting.
Students of this course typically include:
- MLROs and Deputies
- Financial Crime/Risk Officers
- Funds Managers/Officers
- Compliance Officers/Managers
- Trust Assistants/Officers/Administrators
- Trust Managers (Senior)
- Corporate Administrators
- Wealth Managers
- Tax Advisors
- Client Relations/Marketing/Sales
- It is designed, written and updated by leading professionals in AML and Financial Crime.
- Flexible online delivery and virtual classrooms designed for working professionals.
- Students have the opportunity to interact directly with the course tutors at the virtual classroom.
- The virtual classrooms are recorded and made available for all students on the programme.
- Online discussion forum for students to interact with their cohort and ask questions about the programme.
Format, Delivery and Assessment
This course is available for study once annually, with intakes beginning in April and the examination taking place in September. The programme is delivered entirely online and takes five months to complete. We recommend that you spend four to six hours per week on private study for the duration of the course.
Enrolment onto this course will include the following:
- access to the online learning platform which contains:
- bespoke, soft copy course reading
- self-assessment material
- two interactive virtual classrooms
- distance learning support
- examination fees.
The course is assessed by way of a two-hour online examination comprising 60 multiple-choice questions. There is a window of around 20 hours in which students can sit the examination on the given examination date. The examination questions are drawn from across the syllabus and candidates must achieve 50% in order to pass the Certificate.
Once you have successfully completed this course, you will gain 30 Entry Level credits towards STEP membership and be awarded the STEP Certificate in Anti-money Laundering.
There are no formal exemptions available for this course.
To enrol for this course, you must select your preferred course start date, and the corresponding events.
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This course covers the most up-to-date developments in the industry, introducing you to the fundamentals of international trusts, trust operations and requirements in a global and local environment.
The STEP Diploma in International Trust Management is recognised worldwide as the benchmark qualification for those working in the international trusts industry.
This course is an advanced programme for mid-senior industry practitioners looking to broaden their understanding of critical thinking, risk assessment and business strategy.