Anti-Money Laundering Training Course

Price
£25.00
ex. vat
  • Certified by CPD
  • Audio voiceover
  • Approximate course duration 2-3 Hours
  • Downloadable certificate on completion
  • 100% online training

This Anti-Money Laundering training course explains the UK laws that were put in place to prevent money laundering.

By law, businesses in the regulated sector must put controls in place to prevent financial crime, money laundering and terrorist financing. The regulated sector includes a huge variety of businesses such as banks, accountants, estate agents, law firms and casinos.

The UK is the second largest money-laundering hotspot in the world. Around £88 billion is laundered through UK organisations every year. This money funds terrorist activities and damages the UK economy, which affects all of us.

The approximate duration of this online training course is 2-3 hours.

What is Money Laundering?

Money laundering is the crime of processing dirty money (obtained through crime) through a legitimate business, or moving it into foreign bank accounts, to hide the fact that the money was illegally obtained. The cleaned money can then be spent as if it was obtained from legal sources.

The importance of Anti-Money Laundering training

Money laundering costs the UK more than £100 billion pounds a year. Criminals, organised gangs and terrorists use it to move funds and pay for assets.

The laundering of large amounts of illegal funds through the UK’s financial sector threatens national security and weakens both the financial system and the UK’s international reputation.

No one wants money laundering happening in their business. There is a risk of loss of revenue, and a loss of reputation.

This online Anti-Money Laundering and Counter-Terrorism Financing course makes employees aware of illegal practices and helps them to identify AML risks. It explains the relevant UK laws, and explains the controls that must be put in place to prevent money laundering and terrorist financing.

Other online UK Regulatory Compliance courses

1 – Bribery Act 2010 Course
2 – Data Protection and the GDPR Course (Level 2)
3 – Modern Slavery Awareness Course
4 – Equality and Diversity Awareness Course

Who is Anti-Money Laundering training for?

The course is for anyone who handles or manages an organisation’s finances. This applies whether the organisation is in the regulated sector or outside it.

What are the learning outcomes for the Anti-Money Laundering course?

At the end of the AML course you will be able to describe:

  • The terms money laundering and terrorist financing
  • Global efforts to tackle financial crime
  • The money laundering process
  • Key laws that address money laundering and terrorist financing
  • The role of the regulators
  • Who is responsible for compliance in a regulated firm
  • Compliance measures that the responsible person must take
  • What is meant by a risk-based approach to compliance
  • The role of risk assessment
  • Customer Due Diligence
  • Know Your Customer
  • Enhanced Customer Due Diligence
  • The essentials of a compliance programme

When do I get my Anti-Money Laundering certificate?

AML Certificate

When you have passed the online course assessment you can download and print your certificate straight away.

All of our courses conform to the CPD guidelines and have been accredited by the CPD Certification Service. Therefore, your certificate will include the CPD logo and you can use it to provide evidence for compliance.

CPD Logo

Example Screens from Anti-Money Laundering course

(Click on the example screens below to view)

Anti-Money Laundering Example 1Anti-Money Laundering Example 2Anti-Money Laundering Example 3

What does the Anti-Money Laundering course cover?

The course contains these 9 topics:

1 – Background

The first topic defines the terms money laundering and terrorist financing. It also explores the consequences and the nature of these crimes. Finally, the topic outlines the role of the Financial Action Task Force.

2 – The Money Laundering Process

In the second topic you will learn about the three stages of money laundering.

3 – Legislation

The third topic outlines relevant UK laws and also describes the offences and penalties under the POCA.

4 – Regulations

Topic 4 identifies the main supervisory authorities in the UK and describes the work they do. It also explains the regulation of high value dealers and outlines the UK sanctions regime.

5 – Compliance

In topic 5 you will learn about the duties of the Money Laundering Compliance Principal and the Money Laundering Reporting Officer. The topic goes on to identify the importance of employee screening and internal audits. The topic also outlines the training and skills needed by employees, the MLCP and the MLRO.

6 – Risk-based Approach

Topic 6 defines the risk-based approach to compliance and outlines the purpose of an AML risk assessment. The topic also provides examples of risk factors in key regulated sectors and explains how to calculate a risk score. You will also learn about when and how to document risk assessments.

7 – Customer Due Diligence

Topic 7 explains the terms Customer Due Diligence and Know Your Customer. Next, it explains what you must do to establish a customer’s identity and how to identify beneficial owners. You will also learn about due diligence checks for regulated and unregulated bodies and the duty to cooperate placed on customers.

8 – Enhanced due diligence

Topic 8 explains enhanced due diligence. Then the topic covers how to verify ID when a customer is not physically present and the concept of the Politically Exposed Person (PEP). Finally the topic describes enhanced due diligence checks for high risk countries and money service businesses.

9 – AML Compliance Programme

The final topic summarises money laundering requirements for UK businesses. The topic also focusses on the role of the MLCP and MLRO and AML risk assessments.

Assessment

The assessment will contain 20 questions which the course will select from question banks. The questions change each time a candidate takes the assessment, so the course is suitable for initial and refresher training.

There is no limit on the number of attempts you can have at the assessment. In addition, the training course gives useful feedback so you can learn from any mistakes.

Price
£25.00
ex. vat
DISCOUNTS
Discounts Available For Bulk Purchases
No. of licences
per course
% saving
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20 - 49 20%
50 - 99 25%
100 - 149 30%
150 - 999 35%
For 200+ licences, please email us at sales@i2comply.com or call us on 0333 577 5016.
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