Anti Money Laundering Training (UAE)

Course available for 180 days
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Duration: 1.20 hours
Lectures: 9
Video: 1.20 hrs
Level: Intermediate

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AML Training for UAE

Money laundering is a problem for the UAE, despite the steps the country has taken to combat financial, organized, and terrorist crimes. The UAE maintains a strong Anti-Money Laundering (AML) system in an effort to protect against the possibility of money laundering and terrorist financing.

Since 2001, the UAE Government (UAEG) has taken steps to better monitor cash flows through the UAE financial system and to cooperate with international efforts to combat terrorist financing.

To tackle this on-going 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 UAE 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 lose 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.

In this anti-money laundering training UAE, we will touch on 7 important topics, including

  • What is Anti-Money Laundering?
  • Money Laundering and Financing of Terrorism
  • Responsibilities of Senior Managemen
  • Risk Assessment
  • Internal Policies, Controls, and Procedures
  • Suspicious Transaction Reporting
  • Suspicious Transaction Reporting

Key elements of AML training UAE

AML training in the UAE is important for businesses to learn how to prevent and detect money laundering. The key elements of AML training in UAE include:

  • Learning about the risks of money laundering.
  • Understanding the different methods of laundering money.
  • Knowing how to report suspicious activity.

AML training also covers customer due diligence, record keeping, and AML compliance. By understanding the key elements of AML training, businesses can develop effective policies and procedures to protect themselves from money laundering.

Important for AML training course UAE

AML training is essential in the UAE due to the high risk of money laundering and terrorist financing in the region. The UAE has a large financial sector, and many international businesses operate in the country, making it an attractive destination for criminals looking to launder money.

AML training helps to educate employees about the risks of money laundering and how to identify suspicious activity. It also helps businesses to develop policies and procedures to prevent and detect money laundering. In addition, AML training is required by law in the UAE, so businesses that do not provide it can be subject to heavy fines. As a result, AML training is a vital part of doing business in the UAE.

Aims of the course

This course aims to provide participants with an understanding of money laundering and its implications, as well as the methods and procedures used to combat it. The course will also cover the UAE’s legal and regulatory framework for anti-money laundering.

The objectives of the course are to:

Increase participants’ understanding of money laundering and its implications. Familiarize participants with the methods and procedures used to combat money laundering.

Provide participants with an overview of the UAE’s legal and regulatory framework for anti-money laundering

Reason to choose us for anti-money laundering training UAE

We provide our clients with the most comprehensive and up-to-date anti-money laundering training. With our years of experience and knowledge, we are able to offer a wide range of courses that cater to the specific needs of our clients. Our courses are designed to help our clients comply with the latest laws and regulations and to protect their businesses from the risks associated with money laundering. Our team of experts is always on hand to answer any questions that you may have. So why not choose us for your anti-money laundering training needs? Contact us today to find out more.

Frequently asked questions (FAQs):

What is anti-money laundering training in UAE?

Anti-money laundering (AML) training in the United Arab Emirates (UAE) is designed to help financial institutions and professionals comply with the country’s AML laws and regulations. The courses cover various topics, including an overview of money laundering and terrorist financing, risk management, compliance, and AML investigations.

How can I become an AML-certified trainer in UAE? 

You will need to have a recognized qualification in anti-money laundering or financial crime and at least two years experience working in this area. You will also need to be a member of the Association of Certified Anti-Money Laundering Specialists (ACAMS) and have a current AML certification.

What is the duration of AML training course UAE?

AML training courses UAE Length 1.20 hours.

Who should take AML training in UAE?

AML training in UAE is generally recommended for any employees responsible for compliance with UAE AML laws and regulations, detecting and reporting suspicious activity, or implementing AML compliance procedures.

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UAE – Anti Money Laundering Course Preview
1:47

Money laundering is a problem for the UAE, despite the steps the country has taken to combat financial, organized, and terrorist crimes. The UAE maintains a strong Anti-Money Laundering (AML) system in an effort to protect against the possibility of money laundering and terrorist financing.

Since 2001, the UAE Government (UAEG) has taken steps to better monitor cash flows through the UAE financial system and to cooperate with international efforts to combat terrorist financing.

To tackle this on-going 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 UAE 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 lose 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. 

2
Module 1: What is Anti-Money Laundering?
09:18

In the UAE, there has been an increase in corrupt influences on young people and it’s already being misused by criminals through emerging technology.

As Money Laundering is on the rise, this module is will give you the basic knowledge and understanding what Money laundering and Terrorist financing is all about and how it is carried out mainly in the UAE. 

It is highly important to learn how these criminal offences are carried out as there is a potential risk that someone might approach you or someone you know into this act and that could put someone’s life in danger. 

3
Module 2: Money Laundering and Financing of Terrorism
06:15

There are terrorist groups and organizations that also fund illegal activities like money laundering for their financial gains in the UAE, and are an expert of erasing their illicit origins.

This module will help get a better understanding on laws made by the UAE Government on how to track and catch these illegal activities.

It is important to understand the need to catch these criminals to avoid any further mishaps In the UAE’S economy.

4
Module 3: Responsibilities of Senior Management
04:14

It is a duty for all senior management within the company to teach and bring awareness to their staff about theft and criminal activity in all sorts of businesses happening in the UAE. 

This module will give a detail look about the ways the UAE’s economy is protected and safeguarded from criminals who want to steal and misuse the money for illegal means.

All UAE agents and management should be aware of all the ways how these business could be exposed to money laundering and terrorism financing risks, and design systems to deal with them.

5
Module 4: Risk Assessment
15:31

The risk Assessment helps in assessing the Risk Standing between the customer and transaction made, and will help us to identify which process, whether CDD or EDD, is to be implemented based on the type of risk involved in this activity.

The course will also teach you about various types of risks that are included when choosing this method, whether the risk involves a customer, an agent, or a transaction of high value.

This method enables the Senior Management to make systematic controls and implement the most useful procedures in relation to CDD, EDD as well as monitor of the Compliance areas in the UAE of these customers.

6
Module 5: Internal Policies, Controls and Procedures – Part1
10:47

This chapter discusses all about different Acts and Laws passed in terms of Money Laundering and Terrorist Financing for each UAE financial agent and businesses in the UAE to comply with. 

This module will touch on important regulators for AML controls in the UAE such as the Central Bank (CBUAE) and how Politically Exposed Persons also affect AML-CFT Law and Decision. 

All of these regulations are a must for each agent and business in the UAE to act upon, or else they will face serious penalties against it.

7
Module 5: Internal Policies, Controls and Procedures – Part2
12:30

This chapter discusses all about different Acts and Laws passed in terms of Money Laundering and Terrorist Financing for each UAE financial agent and businesses in the UAE to comply with. 

This module will touch on important regulators for AML controls in the UAE such as the Central Bank (CBUAE) and how Politically Exposed Persons also affect AML-CFT Law and Decision. 

All of these regulations are a must for each agent and business in the UAE to act upon, or else they will face serious penalties against it.

8
Module 6: Suspicious Transaction Reporting
13:27

All FI’s must report to the Financial Intelligence Unit (FIU) suspicious transactions without any delay.

This module will help identify suspicious transaction and show the adequate process of how the FIU should have a dedicated, experienced staff for the investigation of and dealing with alerts which must be documented as well.

You will also learn about the GoAML system for the filing of these Suspicious Transaction Reporting that was formed by the FIU.

9
Module 7: Reliance on Third Party
10:13

Financial Institutions may rely on third parties to undertake the required CDD measures under certain conditions, with the responsibility for the validity of the measures resting directly with the FI’s.

This module will show how adequate steps must be taken to ensure that copies of identification data and other relevant documentation relating to the CDD requirements will be made available from the third party upon request without delay

You will also learn how all record must be kept in an organized manner in order to permit data analysis and the tracking of financial transactions, and making the records available to the Competent Authorities immediately upon request.

10
UAE – Anti Money Laundering Quiz
39 questions
Anti Money Laundering Training (UAE)