Rules for combating money laundering and terrorist financing for financial institutions

Overview
Course Details

Courses Description

The past few years have witnessed rapid developments in the international financial sector, including coordinated efforts in combating money laundering and terrorist financing; Consequently, the international community adopted a set of different initiatives, which included judicial measures and standards in response to international developments in this field. We will go over the various aspects of money laundering and terrorism financing in financial institutions through this program

Target Audience

All employees working in financial institutions
Employees of regulatory bodies in institutions
Lawyers and employees of legal accounting offices
Employees wishing to prepare for the CAMS® exam
All those interested in combating money laundering and terrorism financing field

Objectives

By the End of this course, you will be able to:

Determine the operations related to money laundering and their up-to-date methods in this field
Know the structure needed to ensure an effective anti-money laundering system
Learn about the measures that financial institutions and non-financial businesses and professions must take to prevent money laundering
Be able to identify the suspicious transaction reporting mechanisms and the role of compliance management
Understand the international requirements and directives to combat money laundering and terrorism financing
Be aware of the competent authorities, their powers and resources

Assessment Strategy

Pre and Post training test to measure knowledge and learning levels.
Engage trainees in exercises and group activities.
Evaluation form to be filled by trainees.

Module 1: Money laundering

Definition of money laundering and terrorism financing
The three stages of money laundering
The history of money laundering
Risks of money laundering and terrorism financing
The most convenient environment for money laundering
Means and methods of money laundering and terrorism financing
Dimensions of money laundering phenomenon
Levels of the money laundering crime
money laundering tools
Elements of the crime of money laundering
Provisions for the crime of money laundering
How to deal with money laundering cases
Case studies on money laundering cases in the Kingdom of Saudi Arabia
International anti-money laundering standards
The points of overlap and conflict between money laundering and terrorist financing crimes
Interests protected by the anti-money laundering crimes law

Module 2: Financing of Terrorism

The concept of terrorism
Definition of terrorism
The Arab Convention for the suppression of terrorism, signed in Cairo on 4/22/1988
Terrorism financing sources
Indicators of financing terrorist operations
Accounts indicators
Monitoring the accounts and operations of charitable associations and institutions
Obligations set by the authorities concerned with combating money laundering and terrorism financing for financial institutions
Summary of the legislation, regulations and systems in the Kingdom of Saudi Arabia related to combating money laundering and terrorism financing

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