Description
Anti Money Laundering (AML) training is becoming an essential tool combating the fight against money laundering. This anti-money laundering program is for professionals working in different domains such as transaction monitoring, customer identification, watchlist filtering, name check analysis, and KYC onboarding teams.
Anti-Money Laundering (AML) is like a rulebook that stops bad guys from making dirty money look clean. AML helps banks and money places fight against money crimes. To follow AML rules, banks must gather details about customers, watch their money moves, and tell authorities if something seems fishy. Also, there’s a rule that says money must sit in an account for a certain time (at least five trading days in the U.S.). This helps banks catch money tricks and stay safe from risks.
What is CAME?
CAME is one of the best AML Courses in India. It teaches you how to understand different types of financial crimes, assess risks, and follow the rules set by the government. You will learn how to detect fraud, counter financing of terrorism, and make sure companies are following good practices. This program also helps you spot transactions that seem suspicious and manage risks effectively. By completing this certification, you become an expert in reducing financial risks, protecting companies from harm, and making the financial system safe and honest. It’s a valuable certification for anyone working in finance and wanting to fight against financial crimes.
Money laundering is the processing of criminal proceeds to disguise their illegal origin. This process is of critical importance, as it enables the criminal to enjoy these profits without jeopardizing their source. In today’s modern world, contemporaneous augment in the different reserve capital requirements, the AML and KYC compliance requirements generate a remarkable increase due to rising money laundering activities and financial crimes.
Compliance training is becoming important in the wake of growing sanctions. After the Russia-Ukraine war, the sanctions reached a new high. Violating this compliance will directly result in heavy penalties for financial institutions. Customer Identification norms require ascertaining the beneficial owners.
This compliance training program will take you through the various aspects of financial crimes and compliance.
Who should opt for AML training?
AML training is the only training that would cover it all. Not only in banking but these changes are evident in the financial system and can be seen in the following sectors which need to follow AML regulations and laws:
- Capital Markets- Stock exchanges, brokers, and merchant bankers must follow AML laws. These laws help them lower their risk of being involved in money laundering, fraud, and financial crimes.
- Payment Services- Today, we use Payment Gateways and Wallets a lot to pay for things we buy. But, these companies can have problems like fraud and bad people trying to hide their bad money. Since the way we pay for things is changing, we need to make sure there are quick solutions to prevent money laundering.
- Financial Services- In the world of finance, certain institutions help the main banks and financial companies stop money laundering. These groups give advice about AML KYC to big banks, both those in our country and those from other countries.
- IT Sector Companies- IT Sector Companies have emerged as the core service provider for AML Compliance programs through technology development.
But to understand these frameworks, tools, techniques, and policies, Companies in all the sectors above are in dire need of AML Compliance Professionals with the right knowledge and skillset.
CAME is an expert professional who is skilled at tracking the cash that originates in fraud or other crimes such as drug trafficking but has been subjected to complex financial maneuvers to obscure its origins. Conclusively he is an expert in AML, KYC, and CTF. Developing such professionals is the challenge that has been taken by institutions like Indiaforensic where an aspirant or a fresher gets trained on AML KYC and its start-to-end process.
Advanced AML Program for Compliance Professionals
The Certified Anti-Money Laundering Expert program is curated by Indiaforensic which is one of the leading certifications in India that consolidates various resources under one program.
In 2007, this course was launched by CA Mayur Joshi. It is the premier certification in India in the AML and Compliance domain. Additionally, the CAME course was a self-paced learning course. But as the education system changed and technology upgraded, classroom training became the need of an hour. Hence Indiaforensic has taken a step ahead to launch Online AML Training for the compliance domain.
The aspirants will develop the required skill set to become KYC AML Compliance officer. Certified Anti Money Laundering Expert is a program that helps people in banking, law enforcement, and compliance learn the right stuff. When they go to class, they pick up skills about Anti Money Laundering rules. That’s why it’s a program that gives you useful knowledge.
Modules covered in Online Live AML Training
This course has premier recognition. Because the syllabus of Certified Anti-Money Laundering is vast and dynamic. The Certified Anti-Money Laundering Expert training program also helps the aspirants to become AML Specialists. Following is the curriculum of the course:
- History of Anti Money Laundering and Terrorist Financing
- Customer KYC (First step towards AML)
- Transaction Monitoring
- Regulatory Reporting – Currency Transaction Report (CTR) and Suspicious Activity Report (SAR) also known as Suspicious Transaction Report or STR in India
- Response to Law Enforcement Agency Notices and Investigations
- Red Flag Indicators
- How to conduct Enhanced Due Diligence (Risk based approach)
- Introduction to Shell Companies and How to Identify Ultimate Beneficial Owners
During the course, the mentor pauses between the learning parts to share real-life examples of various situations. This makes it easier for students to grasp how things actually happen in real life. The course deals with subjects like real estate and casinos and also includes important rules like the 40 recommendations from the Financial Action Task Force (FATF), along with laws like the Bank Secrecy Act and Patriot Act.
It also talks about different rules like the Financial Crimes Enforcement Network and International Monetary Fund (IMF). FINCEN works as a money detective for the United States. The IMF helps FATF check if countries follow AML rules and find ways they can do even better.
When we use AML/CFT controls the right way, they help us stop bad things from happening with money. These controls make sure that criminal activities with money don’t hurt us. They also help keep our money system safe and steady.
Who is a Certified Anti-Money Laundering Expert?
A Certified Anti-Money Laundering Expert is a person who specializes in the prevention, detection, and also investigation of money laundering red flags. It is also a person who has gained knowledge in the AML and compliance domain. Demand for CAME professionals is continuously growing.
By pursuing AML Training, banking professionals display their commitment to the development of their AML skills. Moreover, businesses are promoting their employees to take up CAME certification. Because it demonstrates the commitment of financial institutions that employ CAME professionals to combat financial crimes.
Learning Outcome from the AML Training
The Certified Anti-Money Laundering Expert is one of the premier certifications for AML professionals. Following are the learning outcomes from the certifications:
- 12+ Hours of Live Online Classroom Sessions for the CAME aspirants
- Exhaustive Curriculum providing in-depth knowledge on AML KYC.
- Discussion of Practical Scenarios through case studies.
- Assessment of Knowledge and skillsets through examination.
- Certification as the Anti-Money Laundering Expert
- Complimentary E-learning Certification on AML KYC viz. Risk-Based Approach to KYC Program
Conclusion
So to conclude, in the words of Min Zhu, Deputy Managing Director of the IMF, “We need strong rules against money laundering and stopping the bad guys from funding terrorism. These rules are important to keep the financial system fair and safe. They help us stop people from doing bad things with money and keep our markets honest”. CAME Is the first step in the right direction.
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