Training for AML department staff

TRAINING PROGRAMME OBJECTIVE

The growth of the financial sector is impossible without a constant inflow of professional staff. Modern trends in the fight against financial crimes increase the requirements not only to the level of qualification but also to the breadth of a specialist’s professional field. The volume of information necessary for an employee’s professional activity is rapidly increasing, which presupposes his ability to find and use new labour technologies, to apply them in practice, and to form the ability to continious self-education.

Training programme from COREDO specialists is a quick, easy and effective way to train qualified specialists and increase their awareness in the field of AML. Well-trained employees will help organisations meet their regulatory obligations and prevent the negative impact of risks associated with money laundering and terrorist financing.

Who is AML training suitable for?

All AML professionals who need to be certified as required by regulators

Professionals who are already working in the AML field and are keen to improve their knowledge and skills to reach career heights

Companies wishing to train or upgrade the skills of their AML specialists and confirm their level of qualification with the appropriate certificate

Newcomers who are interested in gaining basic knowledge to get a good start in their AML career

BASIC TRAINING

This training programme is suitable for companies that provide various financial services as part of their business activities and whose activities are regulated by AML legislation:

Payment Services Providers/Money Services Businesses.
Electronic Money Issuers (Electronic Money Issuers).
Cryptocurrency companies (Virtual Services Providers).
and other representatives of this sphere.

The training process is primarily aimed at improving your employees’ ability to understand all the nuances and subtleties of AML issues and to apply the knowledge gained in practice.

Training is an important part of the AML programme. Employees who directly perform AML functions in the company, the company’s management, and other employees who ensure the business’s functioning should be trained.

Basic training includes:

Training on basic AML concepts.
Training on the requirements for the company’s internal processes.
Training on the principles of creating a system of internal policies.
Training on assessing your company’s risks.
Training on the requirements of interacting with government or other agencies or entities.
Training on the requirements for information retention.
Training on the requirements for conducting an identification process.
Training on the requirements for conducting customer monitoring.
Training on the requirements for conducting a suspicious activity notification process.

WHAT WILL WE TRAIN YOUR EMPLOYEES TO DO?

Upon completion of the course, you will be able to:

Navigate internal regulations, the AML Act and other legislation and utilise these documents in resolving issues that arise.
Learn the principles of identification processes and proper client control in accordance with the legal requirements of the AML Act and KYC/KYB principles.
To learn how to properly analyse information about the client and its activities.
To learn how to determine the risk profile and identify existing risk factors of a client.
Learn the principles of developing basic AML tools – risk assessment system, Customer Due Diligence, KYC questionnaire, etc..
Learn the principles of setting up a trigger system.
Learn to identify unusual and suspicious customer activity.
Build defence methods and principles to combat money laundering and terrorist financing risks.
Establish employee responsibilities and apply a risk-based approach to combating money laundering and terrorist financing.
Learn to adapt measures and initiatives adopted by various organisations to combat money laundering and terrorist financing to the company’s internal needs.

ADVANCED TRAINING

This training programme is designed for those who want to study specific issues in the AML field, deal with specific cases, or improve the current AML system. The curriculum is set individually, based on specific topics and aspects of AML processes, including those identified in your company.

In-depth training areas:

Detailed study of customer identification process issues.
Detailed study of customer control process issues.
Detailed study of the issues of client risk assessment (including criteria of information and documents received from the client).
Detailed study of the problems of internal company processes.
Solution of your cases.
Other requests as agreed.

A deeper understanding of AML practices, problems and solutions

A better understanding of the tasks involved and confidence in their successful completion

The ability to correctly report on client activities and transactions

Increased ability to lead, develop and motivate colleagues

In addition, our training programme will help you meet the regulator’s requirements for the certification of your AML specialists.

TRAINING METHODOLOGY

The training programme is results-oriented and practice-oriented. COREDO experts will provide participants with all relevant information and then help them to assimilate it through discussion and practice. The training programme includes support materials, case studies, live group briefings, presentations and relevant assignments to enhance learning. In addition, training participants will receive an overview of anti-money laundering and counter-terrorist financing best practices.

Ample time is allocated in the programme for a Q&A session, where participants can ask the trainer questions and receive appropriate answers. This training will provide and reinforce key aspects of the AML subject in an inspiring and engaging learning environment.

FORM OF TRAINING

The training programme can be organised as individual lectures at the COREDO office in Prague or as online training. To participate in the online training, the trainee must have the appropriate software: Google Meets and a proper internet connection. In addition, for a fee, COREDO specialists can provide training directly at your office.

SCOPE AND PRICE OF TRAINING

BASIC TRAINING:

Training Scope – 3 Presentation Blocks:

General aspects of AML (3 hours) – presentation of material and answering questions. Note: at the end of the first block you will be given a test to assess your knowledge of the material covered.
Customer Due Diligence – Practical Aspects (4 hours) – presentation of the material, answers to questions and discussion of the test results for the first block. Note: at the end of the second block you will be given a test to assess your knowledge of the material covered.
Introduction to regulation – crypto, etc. (2 hours) – presentation of the material, answers to questions and discussion of the test results for the second block. Note: at the end of the third block you will be given a test to assess your knowledge of the material covered.

Note: after completing the training you will receive an additional 1 hour of counselling to discuss all the issues of the training.

Total training time	Cost of training
10 hours**	720 EUR + VAT*	Order

*Note: within the framework of the basic training, group training is available, the cost for each additional person in the group is 200 EUR + VAT/person.

**Note: on an individual basis we will be able to add additional aspects to the training programme that are beyond the scope of the programme. The cost for each additional hour of training is 100 EUR + VAT/hour.

Advanced training:

Total training time	Cost of training
from 10 to 15 hours	130 EUR + VAT/hour*	Order

*Note: the time costs of the advanced training programme are determined on an individual basis, depending on which aspects of the problem the client wishes to cover. The basic time costs of advanced training vary from 10 to 15 hours.

Theoretical part

In the theoretical part, the participant will have to pass a test consisting of both open-ended questions and multiple choice questions. During the theoretical part, the professional will have to demonstrate knowledge of the basic principles of money laundering as well as the ability to navigate the legal and regulatory framework.

Practical part

In the practical part, the practitioner will have to analyse the case, identify the risks and describe the necessary actions to combat money laundering. During the practical part, the practitioner should present the results of their audit.

CERTIFICATE

The main requirement of the regulatory authorities for an AML professional is sufficient knowledge and skills in the field, including an understanding of the applicable AML regulatory framework. The required knowledge and skills should always be documented.

After completing the training programme and a short assessment, each participant receives a personalised certificate.