Course details
Objectives
- To understand the nature of money laundering and its aspects.
- To survey the national and international efforts regarding money laundering.
- To know how to deal with money laundering transactions.
- To understand the suspicious activities reporting (SAR) requirements.
- To comply with international requirements.
- To reduce the efforts regarding the money laundering by Saudi Arabia and SAMA.
Contents
- Introduction
- Definition AML/CFT
- Criminal activities
- Link between AML & CFT
- Stages of AML (placement Layering Integration)
- International standard setters (U.N. Basel committee (FATF)
- Legal system requirements
- F.I.U.
- Proper customer identification
- KYC & KYCC.
- Profiling a customer (why and how)
- Customer acceptance procedures
- Monitoring customers transactions
- Suspicious transactions reporting
- Record keeping requirements
- Internal control, compliance and audit
- SAMA circular re: account opening
- Suspicious activity indicators
- AML Saudi law & liability of employees/institutions/government
- Case studies and discussions
Course Location
About Institute of Finance
The Institute was first established by the Saudi Arabian Monetary Agency in 1964 under the name of “ Institute of Banking Training ” At that time, the institute provided only conventional academic education where the trainees, who were banking sector employees, were granted, after successfully passing the courses, a diploma in banking and financial studies. With the acceleration of the development of the banking business and the increasing introduction of advanced technologies in the banking sector, it became essential to change the Institute's goals and strategies to respond to such changes and to cope with the expectations of the leaders of the banking and financial sectors.
In 1989, SAMA established the present institute under the new name of “ The Institute of Banking''.
In 2015, the Institute of Banking has changed its name to the “Institute of Finance” with a new mission.
See all Institute of Finance courses- SAR 1,022
SAR 2,043Duration: Upto 125 Hours - Certificate in Anti-Money Laundering Alpha AcademySAR 112
SAR 3,756Duration: Upto 13 Hours
