Anti-Money Laundering/Combating the Financing of Terrorism (Aml/Cft)

Money laundering and the financing of terrorism are financial crimes with economic effects.

Money laundering requires an underlying, primary, profit-making crime (such as corruption, drug trafficking, market manipulation, fraud, tax evasion), along with the intent to conceal the proceeds of the crime or to further the criminal enterprise. These activities generate financial flows that involve the diversion of resources away from economically- and socially-productive uses—and these diversions can have negative impacts on the financial sector and external stability of member states. They also have a corrosive, corrupting effect on society and the economic system as a whole. Because of the negative consequences of these forms of financial abuses on our members’ economies and financial systems, the IMF has been very active for over ten years in the AML/CFT area.

AML/CFT controls when effectively implemented, mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.

By the end of the course, participants will be able to:

• Understand international money laundering standards and the participant's role as an Anti-Money Laundering Officer or Money Laundering Reporting Officer (MLRO) within their organization
• Establish a risk-based approach to AML, the AML/CTF Framework, business risk assessments, and suspicious activity reports
• Assess customer, product, and jurisdictional risk, and identify red flags
• Develop methods for training and culture to identify and combat money laundering activities related to their organization

• Compliance Officers responsible for ensuring adherence to laws, regulations, and internal policies
• AML (Anti-Money Laundering) Officers involved in detecting and preventing financial crimes
• Money Laundering Reporting Officers (MLROs) overseeing suspicious activity reporting and regulatory compliance
• Know Your Customer (KYC) Analysts responsible for customer due diligence and verification processes
• Internal and external auditors involved in reviewing compliance and financial controls
• Risk management professionals handling regulatory and financial crime risks
• Banking and financial services professionals working in compliance and monitoring functions
• Professionals responsible for anti-financial crime frameworks within organizations
• Individuals involved in regulatory reporting and compliance assurance activities