AML/CFT Complete Course (Version 2023.07)
Last updated: 2023.07
Language: English narration and transcript
Who should take this course
- Covered Persons as specified in the Anti-Money Laundering Act and its amendments, particularly BSP-, Insurance Commission-, and SEC-supervised Financial Institutions
- Compliance Office Staff, Internal Audit Staff, Officers, Senior Management, Directors, Stockholders, New Staff, Front-Line Staff, New Hires, Refresher, Transferees, Employee-wide training of the Covered Persons mentioned above
- Individuals, working professionals, and business owners who are looking to understand AML/CFT policies
For a complete list of Covered Persons under the AMLA, click here.
What you will learn
- What is Money Laundering?
- Who are the Covered Persons?
- What are the duties and responsibilities of Covered Persons?
- What is Terrorist Financing?
- Why it is important to have anti-money laundering and counter-terrorism financing training.
- AML/CFT laws and policies
- AML Know-Your-Customer (KYC) Procedures and Customer Due Diligence (CDD)
- Beneficial Ownership structures
- Money Laundering Activities red flags
- The Anti-Money Laundering Council (AMLC) and its authority
- Covered and Suspicious Transaction Reporting (CTR/STR)
- Money Laundering and Terrorism Financing Prevention Program (MTPP)
- Proper record keeping
- ML/TF offenses, penalties and sanctions
Duration: Approximately 5 hours total length
Requirements: There are no prerequisites for this course.
This course includes:
- Interactive e-learning modules
- Explainer videos
- Review quiz per module / Assessment per module
- One-year access
- Free content updates within the subscription period
- Certificate of completion
Course content: 8 Modules
- AML/CFT Key Concepts (30 minutes)
- AMLA 2018 IRR (Implementing Rules and Regulations) (40 minutes)
- AMLA: Updated AML Volume 1 (45 minutes)
- AMLA: Updated AML Volume 2 (80 minutes)
- AMLA GIBO: Guidelines for Identifying Beneficial Ownership Module (20 minutes)
- AMLA GDCR: Guidelines in Digitization of Customer Records Module (20 minutes)
- AMLA MRAS: Money Laundering/Terrorist Financing Risk Assessment System) Module (30 minutes)
- AMLA RPAC: Rules of Procedure in Administrative Cases) Module (25 minutes)
The AML/CFT Complete Course presents a comprehensive approach to the advanced concepts and key information of the AMLA (including its related amendments and laws) that will enable any individual—particularly, AMLA-Covered Persons who are required by the AMLC to take this course and who are at high-risk exposure to potential money laundering and terrorist financing crimes—to protect themselves and their businesses.
The course's objective is to provide essential knowledge to Covered Persons regarding the key components of the Anti-Money Laundering Act (AMLA). Additionally, the course briefly covers certain aspects of the Terrorism Financing Prevention and Suppression Act (TFPSA), the Anti-Terrorism Act (ATA), and the amendments made to AMLA.
The first module of the course focuses on defining Money Laundering and identifying the duties and responsibilities of Covered Persons according to AMLA. It also covers the concept of Terrorist Financing and emphasizes the importance of continuous AML/CFT training. The course provides an overview of the laws and policies related to AML/CFT and introduces learners to the AMLC as the authority for submitting CTRs/STRs.
Another significant topic addressed in the course is the implementation of AML Know-Your-Customer (KYC) Procedures and Customer Due Diligence (CDD) to prevent illicit activities for both businesses and professionals.
The course also extensively covers topics such as developing skills in identifying Beneficial Owners, recognizing ML/TF red flags, conducting risk assessment, managing digital customer records, and maintaining proper record keeping. And, the course also tackles the crucial topic of ML/TF offenses and their corresponding penalties and sanctions.
Learners can complete this course in approximately five hours, including learning checks and the final exam, with no prerequisites required.
Enrolling in the course grants learners access to all modules for a full year, along with free content updates throughout the subscription period to reflect amendments to the law and issuances from the AMLC.
What to expect in the 2023 version:
- Improved playback speed feature - All learners now have the ability to adjust the viewing speed of the videos, which enhances learning by enabling learners to optimize their pace for a personalized experience.
- New topic overview slide - Every module is now organized with new topic overview slides, providing learners with a summary of the course content, helping them to get a better understanding of the topics covered.
- Additional FATF (Financial Action Task Force) content – This is the most up-to-date content providing learners with a deeper understanding of the FATF guidelines and how they relate to AML/CFT compliance.
- Deep dive definitions of terminologies – Learners are now provided with detailed explanations of key terms and concepts related to AML/CFT compliance to help them digest the contents of the modules faster and ensure retention.
Select the product that you require:
- ₱2,800 per user per yearQuantity
- ₱2,800.00 for one year