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AML and Terrorism financing

Duration:
3 Days
Course Fee:
QAR 6000
Description
This is an awareness program in which participants will be made aware of anti-money laundering (AML) and financing terrorism (FT), the various stages of AML, and the legal and regulatory requirements and initiatives by the QCB against ML/FT. Participants will be exposed to the predicate crimes that bring about ML while discussions on other financial products and services vulnerable to criminal abuses such as documentary fraud, tested telex fraud and other financial crimes will occur.
 
Objectives
Upon the completion of this course, the participant will have:
  • A refresher understanding of what money laundering and financing terrorism is
  • Known the sequences, trends and stages involved in AML Operations
  • Clearly understood the CDD/KYC standards and requirements
  • Been equipped with the techniques to identify suspicious transactions
  • Knowledge of the preventive measures for the protection of businesses and the general economy against the menaces of ML
 
Target Audience
All employees of the financial and related industry, who have not participated in any related AML/ Compliance Session
 
Prerequisites
Pre-requisite knowledge for the course may be obtained through prior certified learning or experiential learning at the workplace.
 
Course Structure
Lectures, discussions, video shows, interactions
 
Program Contents
Module 1: AML Standard Update
  • What is money laundering?
  • What is financing of terrorism?
  • The history of money laundering. How does money laundering business/activity begin long ago?
  • Three stages of money laundering vis-à-vis placement, layering and integration
  • Video shows demonstrating the various scenarios/ processes of ML
  • Who is the launderer?
  • Who is a terrorist-financier?
  • Why is today’s hype on money laundering when this type of operations existed long time ago?
  • Causes of money Laundering
  • Effects of money Laundering in business
    • How it undermines domestic capital formation
    • Depresses growth and hinders development
    • Sensitivity of employees

Module 2: Prevention of Money Laundering
  • What is Anti Money Laundering
  • Need for prevention of Money laundering
  • How to prevent Money Laundering/ measures against money laundering

Module 3: State of Qatar Law (4) of 2010 & QCB Instructions
Module 4: Know Your Customer - Customer Acceptance
Module 5: Customer Identification Program “CIP”
  • Politically Exposed Persons ”PEP “
  • Non Profit Organizations “NGO “
  • Bearer Shares and Warrants to Bearer Shares
  • Screening/identification of Beneficial Owner(s) against multinational blacklists covering:
    • International Letters of Guarantees (L/Gs);
    • Demand Drafts;
    • NGO
  • Customers AML Risk Classification
  • Ongoing monitoring of customers’ accounts
Module 6: AML Patterns/Red Flags /Suspicious Transactions/Reporting Suspicious Transaction
Module 7: Introduction to FATCA
 

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