Anti-Money Laundering and Terrorist Financing Officer

Description

The Anti-Money Laundering and Terrorist Financing Officer program has been carefully designed to equip trainees with in-depth knowledge concerning money laundering operations and terrorism financing, with particular emphasis on the risks associated with such activities and the mechanisms for mitigating those risks within financial and non-banking institutions. The program also aims to introduce participants to relevant international bodies, such as the Financial Action Task Force (FATF) and the Egmont Group, and to train them on how to identify and handle suspicious cases and report suspicious activities in accordance with approved standards.

Key Objectives of the Anti-Money Laundering and Terrorist Financing Officer Program

● To enable trainees to become familiar with the fundamental concepts of money laundering and terrorism financing.
● To understand the Egyptian legal and regulatory framework for combating money laundering and terrorism financing and the role of various competent authorities.
● To examine the role of the Compliance Officer in the field of combating money laundering and terrorism financing.
● To clarify procedures for customer identification.
● To provide training on how to detect and report transactions suspected of involving money laundering or terrorism financing.

Target Audience

This program has been specifically developed to target individuals serving as Officers for Combating Money Laundering and Terrorism Financing.

Principal Topics Addressed by the Training Program

The program covers a comprehensive set of theoretical and practical topics, organized into four parts:

Part I

● What is Money Laundering?
● Elements of the Crime of Money Laundering.
● Methodologies for Identifying the Predicate Offense of Money Laundering.
● Stages of the Money Laundering Process.
● Attempted Money Laundering.
● Negative Impacts of Money Laundering.
● Objectives of Combating Money Laundering.
● Risks of Money Laundering to Financial Institutions: Reputational Risk – Legal Risk – Operational Risk.
● Examples of Sanctions Imposed on Certain Financial Institutions.

Part II

● Terrorism Financing.
● Sources of Terrorism Financing.
● The Difference Between Money Laundering and Terrorism Financing.
● Case Study from a Financial Institution.
● Financial Action Task Force (FATF).
● Egmont Group.
● Examples and Case Studies.
● Exercises on Parts I and II.

Part III

● Reporting on Foreign Currency.
● Customer Due Diligence.
● Officer for Combating Money Laundering and Terrorism Financing.
● Beneficial Owner (Beneficiary Owner).
● Record and Document Retention.
● Practical Training.
● Data Updating.
● Examples, Case Studies, and Exercises on Part III.

Part IV

● Anti-Money Laundering and Terrorist Financing Unit.
● Client Risk Classification.
● Politically Exposed Persons (PEP).
● Reports of Suspicious Transactions.
● Indicators for Activities Suspected of Involving Money Laundering.
● Tipping-Off.