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Final Assessment and Next Steps
This module concludes with a knowledge check to assess understanding of AML concepts and procedures. You will review answers, receive a completion badge, and identify additional resources for ongoing learning. AML compliance is a continuous process that evolves with new threats and regulatory expectations.
Practical Scenarios and Decision-Making
You will work through realistic scenarios requiring the application of the risk-based approach, identification checks, and escalation procedures. Each scenario presents clues, potential red flags, and multiple courses of action. Consider regulatory obligations, potential harm, and how different decisions affect compliance and customer relationships.
Case Study: Red Flags in Banking
In this case study, a customer makes large cash deposits, exhibits unusual cash-in and cash-out patterns, and makes immediate transfers to high-risk jurisdictions. The combination of amount, frequency, and geography raises suspicion for money laundering. Review how onboarding and monitoring could flag these activities and discuss appropriate escalation and documentation.
Training and Awareness Culture
Training builds awareness of AML concepts, obligations, and personal responsibilities. Programs should be role-specific, cover current threats, and test understanding through activities. A strong culture of compliance encourages employees to raise concerns without fear of retaliation. Keeping training up to date ensures readiness against evolving risks.
AML Governance, Policies, and Controls
An AML program is governed by policy, leadership, and independent testing. Key roles include the board, compliance function, and business units. Internal controls cover policies, procedures, monitoring, escalation, and training. Independent audits assess effectiveness, identify gaps, and drive continuous improvement.
Recordkeeping and Data Retention
Regulators require secure retention of customer information, transaction data, and SARs for specified periods. Maintain data integrity, accessibility, and audit trails to support investigations and audits. Balance data privacy with the need for defensible records and regulatory reporting. Regular reviews help ensure retention schedules remain compliant and practical.
Suspicious Activity Reporting (SAR) Process
When suspicious activity is detected, staff must escalate and file a SAR with the appropriate authority in a timely manner. A SAR should describe the observed activity, risk factors, and supporting data, while preserving confidentiality. Investigators may request additional information to support the report. Proper SAR processes reduce the opportunity for money laundering and improve regulatory oversight.
Transaction Monitoring and Pattern Recognition
Transaction monitoring uses rules, analytics, and profiling to identify unusual patterns that may indicate illicit activity. Thresholds, velocity, and relationship-based signals help detect scenarios such as structuring, rapid transfers, or unusual counterparties. Case management workflows ensure investigators track evidence, supporting documentation, and next steps.
Screening for Sanctions and PEPs
Screening processes compare customers and counterparties against sanctions, negative media, and PEP lists. Screening helps prevent onboarding and ongoing relationships with sanctioned individuals or entities. Manage false positives by tuning lists, using contextual information, and documenting escalation decisions. Timely screening supports regulatory compliance and effective risk management.
Beneficial Ownership and PEPs
Understanding who ultimately owns or controls a customer is critical to prevent hidden ownership structures. Identify natural persons who own or control a legal entity and verify their identities. Politically Exposed Persons (PEPs) require enhanced scrutiny due to higher corruption risk. Regular reviews and updates of ownership information help detect changes signaling new risk.
Risk-Based Approach to AML
A risk-based approach prioritizes resources based on the assessed risk of products, services, customers, and geographies. Risk scores guide the level of due diligence, monitoring, and escalation. Regular risk assessments and data-driven indicators help adjust controls, thresholds, and training. The goal is to focus effort where risk is greatest while maintaining consistency and fairness.
Customer Identification Programs (CIP) and Onboarding
A robust CIP defines how to verify customer identities at onboarding and what documents or corroborating information are acceptable. Policies should specify onboarding steps, risk-based screening, and acceptance criteria. If identity cannot be verified or risk is unacceptable, onboarding should be paused or declined. Proper onboarding reduces the chance that illicit actors enter the network.
KYC, KYD, and CDD Essentials
Know Your Customer (KYC) and Know Your Customer’s Customer (KYD) are processes to verify identity and understand the purpose and risk of a relationship. Customer Due Diligence (CDD) requires collecting and assessing information to determine risk level. Enhanced Due Diligence (EDD) applies to higher-risk customers or complex transactions. Ongoing monitoring ensures data stays current as risk profiles evolve over time.
Global AML Regulatory Landscape
Regulators worldwide require AML programs aligned with international standards. The FATF provides recommendations that shape national laws, supervisory expectations, and enforcement practices. While laws vary by jurisdiction, core elements include risk-based customer due diligence, ongoing monitoring, recordkeeping, and reporting of suspicious activity. This module outlines the common obligations you are likely to encounter in your role, regardless of location.
Money Laundering: The Three Stages
Money laundering typically unfolds in three stages: placement, layering, and integration. Placement involves introducing illicit proceeds into the financial system; layering hides the origin through complex transactions; integration reinserts funds into the economy as legitimate. Each stage uses different techniques, from cash deposits to cross-border transfers. Understanding these stages helps you recognize red flags and apply the correct controls at onboarding and monitoring.
AML Compliance Foundations
Anti-Money Laundering (AML) compliance establishes the foundation to detect and prevent illicit financial activity. This module explains why AML programs exist, who is affected, and how organizations implement risk-based controls to meet regulatory obligations. You will learn essential terms, roles, and responsibilities that underpin an effective AML program. The goal is to create a consistent baseline of knowledge so staff can identify potential indicators and escalate appropriately.

Foundations for safeguarding financial integrity

Introduction to Anti-Money Laundering (AML) Compliance

AML compliance focuses on preventing illicit financial activity by understanding regulatory requirements, risk indicators, and effective control measures. This module introduces the purpose of AML programs, the roles of compliance teams, and the consequences of non-compliance, equipping you with a solid baseline to recognize suspicious activity and contribute to a compliant organization.

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What Our Students Say About Us

Kevin Tran

The course explained complex AML policies in a simple way. I can apply the knowledge directly when reviewing client accounts and reports.

Ahmed Ali

Financial Analyst

Daniel Kim

The program gave me a structured approach to identifying suspicious transactions. I now feel more confident ensuring our company meets AML regulations.

James Carter

Compliance Officer

Maria Santos

I appreciated the practical case studies. They showed me how to spot potential money laundering activities and document them properly.

David Nguyen

Auditor

Sophia Lee

I learned how to recognize red flags in daily transactions. The training made me more alert and responsible in my role.

Anna Müller

Bank Teller

Emily Nguyen

This program helped me implement effective risk assessment frameworks. It has improved both compliance and the trust of our stakeholders.

Sophia Rossi

Risk Manager

From concepts to practical application

Key Learning Objectives

By the end of this module, you will be able to identify common money-laundering schemes, conduct risk-based customer due diligence, understand reporting obligations, and implement essential internal controls such as monitoring, record-keeping, and escalation processes. The content blends regulatory context with practical scenarios to help you apply what you learn to real-world situations.

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