AML & Risk-Based Approach
- Description
- Curriculum
AML & Risk-Based Approach Essentials (UK Edition)
Course Overview
Money laundering is a serious global threat, enabling the concealment of criminal proceeds and undermining the integrity of financial systems. In the United Kingdom, regulatory bodies like the Financial Conduct Authority (FCA) place significant emphasis on Anti-Money Laundering (AML) compliance—especially through a Risk-Based Approach (RBA).
This course offers a practical and in-depth guide to AML practices and the implementation of RBA, equipping professionals with the knowledge and tools to identify, manage, and report suspicious financial activities. Whether you’re new to compliance or looking to enhance your current understanding, this training is structured to add real value to your role and responsibilities.
What You’ll Learn
By the end of this course, you’ll be able to:
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Understand the principles of money laundering and terrorism financing
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Apply a Risk-Based Approach (RBA) in AML processes
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Conduct effective Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
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Identify suspicious activities and know how to escalate them
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Comply with FCA and UK-specific AML requirements
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Maintain strong record-keeping and internal control measures
Why the Risk-Based Approach Matters
The Risk-Based Approach is central to modern AML strategies. Rather than applying the same level of scrutiny to all clients or transactions, the RBA ensures that resources are directed toward higher-risk areas, improving both compliance and efficiency.
This course will walk you through the steps to design and implement an RBA within your organisation, including:
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Identifying and assessing risk factors (e.g., customer type, geography, service type)
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Implementing proportionate mitigation controls
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Monitoring and reviewing risk exposure regularly
UK Regulatory Focus
In the UK, the FCA mandates that firms conduct tailored AML training aligned with their risk profiles. This course reflects the latest UK legislation, including the Money Laundering Regulations 2017 and guidance from JMLSG.
Key topics include:
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Suspicious activity reporting (SAR)
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Politically Exposed Persons (PEPs) and sanctions screening
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Compliance roles and governance responsibilities
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Recordkeeping and audit trail standards
Certification & Assessment
Throughout the course, you’ll complete interactive quizzes to test your understanding. Upon successful completion, you’ll receive a Certificate of Completion from a recognised UK financial compliance training provider—boosting your professional profile and credibility.
Why Choose Us?
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Industry-led training from experienced AML specialists
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Fully updated UK-centric curriculum
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Flexible learning, accessible anytime, anywhere
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Affordable pricing with no hidden fees
Who Should Take This Course?
This training is ideal for:
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Compliance officers and risk managers
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Finance professionals and accountants
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Lawyers and consultants in regulated sectors
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Anyone interested in building a foundation in AML compliance
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1
Introduction to Money Laundering and Terrorist FinancingMoney laundering is the process of making illegally obtained money appear legitimate by disguising its origins. It involves three stages: placement, where illicit funds are introduced into the financial system; layering, where complex transactions are used to obscure the money's source; and integration, where the "cleaned" money is reinvested into the economy as legal assets. This process enables criminals involved in activities such as drug trafficking, organized crime, and fraud to profit without detection, posing significant challenges for financial institutions and law enforcement.
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2
Quiz-AML-Risk-Based-Module01
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3
Overview of AML/CFT
AML/CFT programs are essential frameworks aimed at preventing money laundering and terrorism financing by enforcing policies, rules, and guidelines that promote transparency, regulatory compliance, and international cooperation. These measures require financial institutions to conduct thorough customer due diligence, monitor transactions, report suspicious activities, and adapt to evolving threats. By ensuring compliance with legal standards and enhancing the integrity of the global financial system, AML/CFT efforts contribute to national security, economic stability, and the preservation of public trust.
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4
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5
Application of AML/CFT regulations on different stages of Money Laundering
AML/CFT regulations are applied at various stages of money laundering to prevent illicit activities. During the placement stage, financial institutions monitor transactions for suspicious patterns like multiple small deposits. In the layering stage, continuous monitoring and enhanced due diligence are required for complex or high-volume transactions, with robust KYC procedures ensuring clarity on account ownership. At the integration stage, unusual or large transactions trigger reporting obligations, and institutions must verify the legitimacy of businesses before allowing significant investments, filing Suspicious Activity Reports (SARs) if needed.
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6
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7
Risk Assessment
Risk assessment in combating terrorism financing (CFT) and preventing money laundering (AML) revolves around the Risk-Based Approach (RBA), a principle advocated by the Financial Action Task Force (FATF). RBA involves tailoring AML/CFT measures based on the risk level of transactions, clients, and relationships, rather than applying a uniform method. Key concepts include inherent risk, residual risk, and the use of a risk matrix to prioritize threats. Higher-risk scenarios often involve politically exposed persons (PEPs), unusual customer behavior, high-risk jurisdictions, and cash-intensive businesses. Effective mitigation strategies include enhanced due diligence, automated monitoring, AI-driven data analysis, and ongoing compliance with evolving regulations.
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8
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