This 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.
This 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, international audit and money laundering reporting.
Students of this course typically include:
- MLROs and Deputies
- Financial Crime/Risk Officers
- Fund Managers/Officers
- Trust Assistants/Officers/Administrators
- Trust Managers (Senior)
- Corporate Administrators
- Wealth Managers
- Tax Advisors
- Client Relations/Marketing/Sales
- Has been designed, written and updated by leading professionals in AML and Financial Crime.
- Its flexible online delivery and virtual classrooms have been 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.
Following this course 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 combatting 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 management 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 STEP Certificate in Anti-Money Laundering 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 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 a given examination date. The examination questions are drawn from across the syllabus and candidates must achieve 50% in order to pass the Certificate.
Once successfully completed, you will gain 30 Entry Level credits towards STEP membership and be awarded the STEP Certificate in Anti-money Laundering.