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Combating Money Laundering and the Financing of Terrorism: A Comprehensive Training Guide has been developed by the Financial Market Integrity Unit of the World Bank to support the World Bank’s Capacity Enhancement Program on AML/CFT. The modules are comprised of the following eight Modules:Module 1 - Effects on Economic Development and International StandardsModule 2 - Legal Requirements to meet International StandardsModule 3a - Regulatory and Institutional RequirementsModule 3b - Compliance Requirements for Financial InstitutionsModule 4 - Building an Effective Financial Intelligence UnitModule 5 - Domestic (inter-agency) and International CooperationModule 6 - Combating the Financing of TerrorismModule 7 - Investigating Money Laundering and Terrorist FinancingThe program offers countries the tools, skills and knowledge to build and strengthen their institutional, legal and regulatory frameworks for developing a robust AML/CFT regime.MODULE 1. EFFECTS ON ECONOMIC DEVELOPMENT AND INTERNATIONAL STANDARDS1. Understanding money laundering and terrorist financing2. The implications of money laundering and terrorist financing for development3. International standards and standard setters4. Assessing compliance with international standardsMODULE 2. LEGAL REQUIREMENTS TO MEET INTERNATIONAL STANDARDS1. What are the international conventions and treaties that deal with AML/CFT?2. What legal and institutional arrangements satisfy international standards?3. What are the legal issues related to international cooperation? 4. Where can one find model laws?MODULE 3A. REGULATORY AND INSTITUTIONAL REQUIREMENTS FOR AML/CFT1. Responsibility for effective supervision2. Institutions subject to AML/CFT compliance3. The principal regulatory and institutional requirements4. Internal audit and compliance programs5. Professional associations: what are their roles?6. Enforcement of AML/CFT requirementsMODULE 3B. COMPLIANCE REQUIREMENTS FOR FINANCIAL INSTITUTIONS1. Understanding money laundering and terrorist financing2. Understanding the international framework and controls3. Key elements of an AML/CFT policy4. Key operational controls of an AML/CFT policy5. Customer due diligence6. Special cases: customer due diligence, risk-based approach7. Monitoring complex, unsual, and large transactions and activities8. Reporting of suspicious transactions and activities9. Special screening of customers and wire transfer transactions10. Record keeping11. Training and awareness12. Sections for compliance officersMODULE 4. BUILDING AN EFFECTIVE FINANCIAL INTELLIGENCE UNIT1. Basic Concepts of the FIU, suspicious transaction reports, and how they fit into AML/CFT regime2. Building FIU functionality3. Coordination and cooperation at the policy and operational levels4. Skills, integrity, and security of FIU personnel5. What type of FIU will you have?6. SummaryMODULE 5. DOMESTIC (INTERAGENCY) AND INTERNATIONAL COOPERATION1. Interagency Cooperation: Why is it central to AML/CFT?2. International Cooperation: Why is it important?MODULE 6. COMBATING THE FINANCING OF TERRORISM1. What does terrorist financing mean?2. International norms and standards on CFT3. Is combating terrorist financing mandatory?4. The targets of international policies on CFT5. Ratification and implementation of UN instruments6. Offenses to be criminalized7. Freezing, seizing, and confiscating terrorist assets8. Reporting suspicious transactions related to terrorism9. Enhancing international cooperation10. Measures required for alternative remittance systems11. Measures required for wire transfers12. Dealing with cash couriers13. Supervising nonprofit organizations and other legal entitiesMODULE 7. INVESTIGATING MONEY LAUNDERING AND TERRORIST FINANCING1. Basic concepts in investigations of money laundering and terrorist financing2. What are the sources of information for money laundering and terrorist financing cases?3. The stages of investigation in money laundering and terrorist financing cases
Published: World Bank Publications on
ISBN: 9780821375693
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