Anti-Money Laundering (AML) Risk Assessment

Choose our course if you want to become knowledgeable in:

(a) The categories of money laundering risks, related to the types of customers, particular products and services, geographical exposure, and product delivery channels;

(b) The methodology of AML risk management, including the likelihood and impact of money laundering risks, qualitative and quantitative analysis, the notions of inherent and residual risks and assessing the effectiveness of controls;

(c) The steps of carrying out an AML risk assessment, which are identifying and assessing risks, defining control measures, and determining, whether the residual risk falls within your company's risk appetite;

(d) The vulnerabilities of particular industries and products, that can be exploited by money launderers; we will review the following types of businesses: 

• cash-intensive businesses; 
• banking, payments, e-money and fintech industries; 
• cryptocurrency and virtual financial assets service providers; 
• providers of corporate services; 
• traders in high-value goods; 
• accountants and tax advisors; 
• notaries and legal professionals; 
• gambling sector entities; 
• free-trade zones; and 
• citizenship for investment programs.

(e) the typical mistakes made while carrying out the entity-wide money laundering risk assessments.

The Sources of Information Used

The sources of information used are the recommendations and publications by:

• the Financial Action Task Force (FATF);
• the US Financial Crimes Enforcement Network (FinCEN); 
• Organisation for Economic Co-operation and Development (OECD);
• The Wolfsberg Group;
• European Banking Authority;
• International Compliance Association; and
• The Basel Institute on Governance.

Why is our Course Different

There is no shortage of AML courses on the market. Most often, they teach you the basic concepts while attempting to cover the whole spectrum of anti-money laundering, sometimes in just one hour of total training. 

We are offering you something different. This is a specialized course, devoted to the primary element of any AML framework, which is an entity-wide AML business risk assessment.

What's Next?

Our future courses in this series, will cover other aspects of AML, such as customer-level risk assessment, KYC and customer due diligence, ongoing monitoring of transactions and customer relationships, risks related to politically exposed persons and international sanctions, enhanced due diligence, dealing with high-risk and non-reputable jurisdictions, internal and external reporting of suspicious transactions, etc.