Anti-Money Laundering and Counter-Terrorist Financing Training UK FCA Firms

Description

The FCA rules require firms to have effective, proportionate and risk-based systems and controls to ensure they cannot be used for financial crime. Firms have the following core obligations: 

  1. Identify and assess the risks of money laundering and terrorist financing to which its business is subject;

  2. Appropriate systems and controls must reflect the degree of risk associated with the business and its customers;

  3. Determine appropriate CDD measures on a risk-sensitive basis, depending on the type of customer, business relationship, product or transaction; and

  4. Take into account situations and products which by their nature can present a higher risk of money laundering or terrorist financing; these specifically include correspondent banking relationships; and business relationships and occasional transactions with PEPs.

 

The course, which is broken into 5 Parts and is followed by an assessment, contains the following sections:

  1. Introduction

  2. Legislative and Regulatory Framework

  3. Governance

  4. Beneficial Ownership

  5. Risk Based Approach

  6. Customer Due Diligence

  7. PEPs

  8. Suspicious Transaction Reporting 

  9. Tipping Off

  10. FCA Approach:

 

Sanction Case Study

FCA Thematic Review: “money-laundering risks and vulnerabilities in the capital markets”

Learning Objectives

To assist senior management and staff of FCA regulated firms understand their AML/CFT and Sanctions obligations under key AML / CTF legislation and related guidance issued by the FCA and the Joint Money Laundering Steering Group. 

Timing

The duration of this 5 part module is approximately 54 minutes. Each section is followed by a knowledge check and we have allocated 8 minutes to complete these. We have allocated up to 20 minutes for the assessment that follows the completed module.

Time: 1 hour 22 minutes

Randomised Assessment

Bespoke Optional

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