Anti-Money Laundering

Anti-Money Laundering & Counter-Terrorist Financing (AML/CTF)

course-icon-city-learning-1

CityLearning’s premier product is Combat Money Laundering and Terrorist Financing, an eLearning course that teaches your staff how to spot and prevent financial crime such as money laundering and terrorist financing.

Broken down into six 10-minute modules, your staff will get the knowledge and skills they need to stay one step ahead of financial crime.

Book a short demo of Combat Money Laundering and Terrorist Financing to learn more about money laundering training from  CityLearning.

Anti-money Laundering Training Courses

For almost 25 years, CityLearning has delivered anti money laundering and combatting the financing of terrorism (AML/CFT) training to major financial institutions in the UK, Ireland, other European countries, as well as the US, Bermuda and The Cayman Islands. Tailored versions of this course are available for different financial sectors, such as asset management, insurance, banking and fintech. A ‘lite’ version of this course, which gives a high-level overview of AML/CFT and takes less time to complete, is also available. 

The course describes the obligations on your company to fight financial crime under the relevant legislation in your jurisdiction. For example, the UK version covers the Proceeds of Crime Act 2002 (POCA), and the Irish version covers the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010. Combat Money Laundering and Terrorist Financing tells your staff exactly what they need to do to ensure compliance with these obligations.

Who is the Target Audience for This AML eLearning Course?

Tailored versions of our anti-money laundering eLearning course are available for different sectors. This includes:

  • Accountancy Firms
  • Asset Management
  • Aviation Leasing
  • Credit Unions
  • Fintech
  • General Insurance
  • Investment Banking
  • Law Firms
  • Leasing and Finance
  • Life Assurance
  • Mortgage Providers
  • Retail Banking
  • Stockbroking
  • Treasury
  • Wholesale Banking
Learning Objectives

Combat Money Laundering and Terrorist Financing training from CityLearning is built around a set of learning objectives to ensure your staff are trained in anti money laundering compliance.

 

After completing this course, you will be able to:

Module 1: Why Combat Money Laundering?

  • outline the characteristics and stages of money laundering.
  • describe the impact of financial crime on society and on you.
  • list the basic traits of terrorist financing.

Module 2: Your Legal Obligations

  • summarise the main legal obligations to stop money laundering.
  • explain the potential consequences of not fulfilling legal obligations.

Module 3: CDD and Risk

  • define Customer Due Diligence (CDD).
  • identify the four main risk categories to consider when assessing a customer’s risk profile.

Module 4: Different Levels of CDD

  • classify the different levels of CDD.
  • illustrate the essential steps in identifying and verifying a customer.

Module 5: Identifying and Verifying a Customer

  • recognise the three types of information necessary for verifying the identity of a natural person.
  • define what a beneficial owner is.
  • list the documentation required for verifying a corporate customer.
  • explain your company’s responsibilities when using a third party to verify a customer.

Module 6: Records and Reporting

  • comply with record-keeping obligations.
  • recognise the characteristics of potential money laundering transactions.
  • describe the signs of potential terrorist financing transactions.
  • identify situations which could lead to tipping off a customer.
What Does This Compliance Training Course Cover?

Combat Money Laundering and Terrorist Financing covers the legislation regulating anti-money laundering and terrorist financing in the relevant jurisdiction and the obligations on your company and your staff to fight financial crime. This online eLearning course consists of six modules.

Module One introduces money laundering and terrorist financing and explains why preventing them is so important. It contains real life case studies to demonstrate the possible consequences if you don’t meet your anti-money laundering obligations.

Module Two lists all the anti-money laundering laws, regulations and guidelines that apply to your company. It outlines the obligations your company must fulfil.

These obligations are to:

  • Check for financial sanctions
  • Avoid tipping-off
  • Carry out Customer Due Diligence (CDD)
  • Follow procedures
  • Keep records
  • Report suspicious transactions

The remaining four modules explain in detail what actions your staff should take to comply with these obligations. Rather than focus on confusing regulations, Combat Money Laundering and Terrorist Financing is designed to teach concrete and practical actions to help you embed a risk-based approach to preventing financial crime in your company.

Module Three explains what customer due diligence (CDD) is and what information your staff should consider when deciding what level of money laundering risk a customer poses.

Module Four outlines each of the three levels of CDD based on a customer’s risk level.

Module Five looks at how to identify a customer and verify their identify, for both individual and corporate customers. It also contains a branching scenario which leads learners through the process of assessing a customer for risk and applying appropriate customer due diligence based on the customer’s risk level.

Module Six explains how to recognise and report potential money laundering and terrorist financing transactions, and how to avoid tipping off a customer.

Combat Money Laundering and Terrorist Financing ends in a 12-question course test. Learners must answer at least 10/12 questions correctly to pass the course. Their score will be automatically saved in CityLearning’s Learning Management System (LMS) CityREPORTs, so that compliance with anti-money laundering training requirements can easily be proven.  

Course Features

Rigorous Testing: Spot questions are used throughout the course to increase user engagement; they either probe to expand on a learner’s existing knowledge of the subject matter or reinforce key learning points. Each module ends in a short quiz and the course ends with a 12-question course test with an 80% pass mark. Questions in the course test are randomised from a choice of three so that learners may retake without getting the same questions.

Customised Content: CityLearning offers versions of Combat Money Laundering and Terrorist Financing tailored to different financial sectors. Additionally, this eLearning course can be customised with content specific to your company.

Accessibility: This course contains audio narration throughout.

Glossary of Terms: Unfamiliar terms are linked to this glossary when they are first used in the course. The glossary can be accessed at any time.

Multimedia Design: This course gets the message across with a mix of text, images, animation and video.

Interactive Content: We design our courses to keep learners engaged and thinking.

Combat Money Laundering and Terrorist Financing contains:

  • navigational interactive elements, such as next/back buttons and icons that reveal more content once clicked.
  • learning interactive elements, including a scenario that lets learners practice assessing a customer for risk and performing customer due diligence.

Modular Structure: This course is broken down into short modules that take 10-15 minutes to complete, so learners can easily finish this course at their own pace.

Real Life Case Studies: Learners benefit from studying recent examples of money laundering cases. These highlight the importance of preventing financial crime.

Available Countries

Our money laundering and terrorist financing prevention course is available in off-the-shelf versions for the following countries and regions, with content tailored to each jurisdiction:

  • UK
  • Ireland
  • Guernsey
  • Isle of Man
  • Luxembourg
  • Belgium
  • The Netherlands
  • The Cayman Islands
  • Bermuda
  • Asia-Pacific
  • Global

If you need anti-money laundering training for a different jurisdiction, we can tailor Combat Money Laundering and Terrorist Financing to suit your needs.

Quality Assurance

CityLearning enjoys a longstanding reputation for the highest quality course content. We are committed to continuous improvement and have a well-established Quality Assurance System in place to measure and enhance our performance.

All project personnel are highly experienced in developing generic, customised and bespoke eLearning solutions for our clients.

Our courses are regularly reviewed by Subject Matter Experts and thought leaders in the industry. The content is also reviewed by financial services regulatory consultants in the UK and a leading law firm in Ireland. 

Why Choose CityLearning for AML Training?

CityLearning has been creating eLearning compliance training courses for 25 years. Our courses have been accredited for Continuing Professional Development (CPD) by various bodies, including the Chartered Insurance Institute (CII) in the UK and the Institute of Bankers (IOB), Life Insurance Association (LIA) and Insurance Institute of Ireland (III) in Ireland. The course undergoes regular review by regulatory compliance consultants and Subject Matter Experts.

Case Study

UK 

A leading Lloyd’s Managing Agency required a custom-made solution for training their staff and insurance syndicates on AML and other regulatory compliance topics. We provided an accessible Learning Management System and bespoke courses to fit this agency’s requirements. We have maintained the relationship for over twenty years, and the agency continues to provide CityLearning’s AML eLearning course and several other compliance courses to their staff and syndicates annually.

 

Ireland

A leading Irish law firm required a turnkey solution for distributing compliance courseware, including AML training, to their current and future clients. After a short consultation period, we provided a tailored online platform which fit the company’s specific requirements. We continue to have a strong relationship with them, as they grow their customer base, and the firm provides CityLearning’s Combat Money Laundering and Terrorist Financing course to their clients annually.

Play Video

Frequently Asked Questions

Is this course approved for CPD?

Yes, this AML training course has been approved for one hour of CPD by the following bodies:

  • In the UK:
    • Chartered Insurance Institute (CII)
  • In Ireland:
    • Institute of Bankers (IOB)
    • Life Insurance Association (LIA)
    • Insurance Institute of Ireland (III)

We can request CPD accreditation from other bodies if necessary.

How long will it take to complete this course?

Combat Money Laundering and Terrorist Financing should take just over one hour to complete.

A ‘lite’ version of the course is also available which takes approximately 30 minutes to complete and carries half an hour of CPD.

How is this course delivered?

Combat Money Laundering and Terrorist Financing is an eLearning course that should be taken online using a Learning Management System (LMS). This can be either our propriety LMS, CityREPORTs, or an LMS already in place in your company.

CityLearning courses are fully SCORM-compliant for easy upload to another LMS.

Can I customise this course?

Yes, Combat Money Laundering and Terrorist Financing can be customised to meet any anti-money laundering or anti-financial crime compliance training needs specific to your company.

How much does this course cost?

The cost per user of CityLearning’s AML eLearning compliance course depends on the number of users taking the course and whether you take only this course or other CityLearning courses in addition to Combat Money Laundering and Terrorist Financing.

Get in touch with us today for a quote. Please be sure to let us know how many users will be taking the course(s) and which course(s) you are interested in.  

Other Courses

If you are looking at Combat Money Laundering and Terrorist Financing, you may also be interested in these other courses from CityLearning: