Anti-Money Laundering Training
- Interactive, online training
- Covers AML, counter-terrorist financing, and trade sanctions
- Scenarios customized to your industry and policies
- Backed by Clear Law’s in-house legal expertise
- Take on a computer, tablet, or smartphone
Why Provide Anti-Money Laundering Training?
The United States, the European Union, and many other jurisdictions require businesses to implement strict policies and controls to prevent money laundering, terrorist financing, and the evasion of trade sanctions. To comply, businesses must enact “Know Your Customer” (KYC) processes to help employees identify suspicious activities. Businesses must also train their employees on how to comply with relevant laws and internal policies. Businesses and their employees who knowingly or unknowingly violate these laws can face severe civil and criminal penalties.
Customization and Languages
Instead of providing generic training, employers can customize this training by including:
- An introductory audio or video message from their CEO or other senior official welcoming users to the course
- Company-specific policies on anti-money laundering, counter-terrorist financing, and trade sanctions.
At a modest cost, Clear Law can also modify the training to include scenarios that directly relate to the actual issues your employees may face. Using “green screen” type technology, Clear Law is able to quickly and inexpensively change actors and backgrounds to create employer-specific scenarios.
Clear Law can provide this training in multiple languages as needed.
AML Training Course Content
Using a variety of interactive scenarios and learning exercises, Clear Law’s online AML training explorers the nuances of the following topics:
- Anti-Money Laundering
- Step 1: Placement
- Step 2: Layering
- Step 3: Integration
- Counter-Terrorist Financing
- Trade Sanctions
Know Your Customer (KYC) and Suspicious Activity Reporting
- The obligation to report to enforcement authorities any suspicious activities
- Potential suspicious activities
- Important KYC definitions
- Ultimate Beneficiary Owners (UBOs)
- How to identify all UBOs
- Potential suspicious activities
- Step 1: Collection
- Dealing with Politically Exposed Persons (PEPs)
- Sanctions lists
- Financial information
- Geographic information
- Business sector
- Adverse information
- Tax regulations
- Step 2: Risk Assessment
- Evaluating the business relationship against AML, CFT and sanctions risks
- Examination of other regulatory and repetitional risks
- Step 3: Decision
When the KYC Process Must be Used
- Initial process
- Ongoing process
- Scheduled recertification
- Non-compliant or overdue KYC file
- Termination of the business relationship
- Record keeping
- When to seek guidance
- How to report concerns or allegations
Policy Review Exercise
- Learners view your organization’s policy on AML, CFT, and sanctions.
- Learners must acknowledge that they have read and understood your policy before completing the course
Policy Reviews and Consultation
Unlike most training providers, Clear Law Institute is a full-service compliance company with attorneys on staff. In addition to providing legally accurate and up-to-date training, we are available to review your current anti-bribery policy to ensure that it complies with relevant laws and best practices.
Clear Law Institute provides online compliance training for more than 1,000 clients, including: