Money laundering is not a serious problem in Qatar as the central bank keeps a close eye on the financial sector. Qatar signed the Anti Money Laundering Law on September 11, 2002, in order to better defend itself against money laundering. Money laundering offences are defined as the acquiring, holding, disposing of, managing, keeping, exchanging, depositing, investing, transferring, or converting of cash derived from criminal proceeds, according to Article 28 of the law and money laundering offenders should expect to face harsh penalties, including up to seven years in prison and large fines.
All financial institutions must also disclose any suspicious transactions to the Qatar Central Bank (QCB) and keep records of these transactions for up to 15 years, according to the Anti Money Laundering Law.The Anti Money Laundering Law established the National Anti Money Laundering Committee (NAMLC) to supervise and direct anti-money laundering actions. All financial institutions must record transactions over 100,000 Qatari riyals (QR) and implement a customer identification system that distinguishes the individual entering into a business relationship or conducting a transaction.
To tackle this ongoing issue, this training course will teach you all about how to identify and report these criminal activities such as money laundering and terrorist financing to the legal Qatar authorities. This course will also help you learn about the entire process of how criminals hide their illegal sources and involve in fraudulent activities with customers, making it difficult to track these sources and customers losing all of their trust in financial authorities.
You will also explore and practice this training by completing quizzes relevant to each topic and once you clear the quiz, you will hold a certification from one of the recognized financial services firms in the UK that holds significant value for your career and profession.
