Anti-Money Laundering: CPD & Institute of Hospitality Approved
Course Description: Money-laundering is a major criminal problem worldwide. This course starts by defining money-laundering and describing the ‘regulated sector’ as defined by the Proceeds of Crime Act.
The course discusses various money-laundering offences, including tax evasion, theft, fraud, bribery, and the financing of terrorism. You’ll learn about some of the ‘red flags’ which could indicate illegal activity and the connections between money-laundering and certain financial institutions.
You’ll see how the regulated sector combats money-laundering through compliance, due diligence, and record-keeping.
Finally, the course examines the internal controls and monitoring used by companies to fight against money-laundering, including policy statements, effective reporting systems, and staff responsibilities.
Learning Objectives: By the end of this course, you will be able to:
- Identify the key pieces of legislation regarding money-laundering and its relation to other offences.
- Define the term money-laundering, what leads to it, and the effect it has on others, the business, and the economy.
- Understand the concept of due diligence and the regulations that apply, and the regulators that can be consulted.
- Evaluate internal controls to help reduce and monitor activities that lead to money-laundering.
- Remember employee responsibilities in applying internal control, recognize the signs of money-laundering, and reporting concerns.
Target Audience: This course is suitable for anyone working in an organisation that handles large amounts of money. It can also be used as an introduction to the subject for those working or planning to work in a regulated sector.
Advantages: Training staff in this area can be used as part of a company’s proof that they are actively working to identify and discourage money-laundering. Online training is flexible, efficient, and cost-effective, meaning the candidate can progress through the modules at their own pace and in their own time, fitting the training around their work and personal life.
Further Progression: For candidates that want to add more qualifications to their CV, our Leadership Skills and Developing Teamwork courses are ILM approved and provide a recognised qualification.
For candidates new to management roles, Managing Meetings would be a great next step, although working through any of our Business Skills courses would also be valuable. For anyone working in the financial industry, our Anti-Bribery and Corruption course would be a good further step as it explores in detail another financial crime and shows ways management and employees can reduce the risk of bribery and corruption in their organisations.
Course Modules and Pass % Required:
- Module 1: Introduction
- Module 2: The Law
- Module 3: Money-Laundering
- Module 4: Due Diligence
- Module 5: Internal Controls and Monitoring
Recommended System Requirements:
- Browser: Up-to-date web browser
- Video: Up-to-date video drivers
- Memory: 1Gb+ RAM
- Download Speed: Broadband (3Mb+)
Duration: 50 minutes (Note: This is based on the amount of video content shown and is rounded off. It does not account in any way for loading time or thinking time on the questions).
