AML Awareness - Taking Client Responsibility

Research* estimates that 70% of all laundered criminal money passes through the financial sector, which represents a source of significant reputational risk for banks. This exposure, which manifests itself mostly through the interaction with customers, needs prudent management and most banks have adopted a ‘3 lines of defence’ model to address the client related AML/CFT risks.

However, to apply this model successfully hinges on a thorough understanding of the roles and responsibilities of each line, and as experience shows, this can be a challenge.

*UNODC, 2011


DURATION: APPROXIMATELY 45 – 60  minutes including knowledge checks
TARGET AUDIENCE: The target audience includes Client Relationship Managers, Customer support staff, Compliance Officers, Senior management.
COURSE OVERVIEW: The AML/CFT & Client Responsibility course has especially been designed by subject matter experts. In this highly interactive course, participants will learn about taking responsibility for their role in the ‘3 lines of defence’ model
COURSE OBJECTIVES: After completing the training a participant will be able to:

  • Take responsibility for their role in the “3 Lines of Defence”;
  • Know when to consult with, and what to expect from colleagues in AML/CFT Compliance;
  • Confidently discuss the bank’s AML/CFT policy and related documentary requirements with the bank’s clients;
  • Address clients’ AML queries in accordance with the bank’s policy;
  • Assess the client information received for completeness and correctness;
  • Formulate a motivated client AML risk profile proposal;
  • Confidently follow up with the bank’s clients in case of remedial or additional information requirements;
  • Actively monitor clients’ financial behaviour, recognise AML red flags;
  • Know when and how to escalate incidents in accordance with the bank’s procedures
METHODOLOGY: The course has been developed using the latest e-learning authoring tools and is informative, interactive and engaging
  • Brief reminder of AML/CFT
    • Absolute and relative size of problem,
    • Challenges for banks
  • Implications for banks
  • Three lines of defence model
  • Assessing client risk profile
  • Implications of monitoring client behaviour through lifecycle
  • Escalation to Compliance for advice, when and how
  • Knowledge Check

AML & Taking Client Responsibility

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