Anti-Money Laundering (AML) and Regulatory Compliance: Achieving Success Through AML and Compliance Officers’ Knowledge-Based Commitment

Programme Overview

Money Laundering and terrorist financing are major corporate and social issue worldwide. For this reason, many regulators have turned their supervisory spotlight on financial institutions’ AML/CFT programmes, systems, policies and controls and also on the employees who are involved or responsible for the prevention, detection and overall fight against money laundering and terrorist financing. In addition, enormous responsibility has been given to the officers responsible for managing money laundering and terrorist financing risks on a day-to-day basis.

Programme Objective

To provide a robust, comprehensive and leading practice insight into the world of AML /CFT and Regulatory Compliance. By the end of the programme each participant will be able to:

  • Know the legal and regulatory frameworks guiding AML/CFT in Nigeria
  • Be able to define money laundering and terrorist financing, as well as learn the stages of money laundering
  • Gain insights into the preventive and detective measures against ML and TF
  • Explore the EU GDPR, which came into effect on May 25, 2018 and its implication on your Institution
  • Gain insights into the relationship between money laundering and terrorist financing
  • Examine the roles and responsibilities of different internal stakeholders on AML/CFT and regulatory compliance
  • Learn the risk-based approach to AML/CFT
  • Explore the money laundering offences and predicate offences, as well as the CBN AML/CFT administrative sanctions regime
  • Gain insights from a regulator on the expectations of regulators regarding AML/CFT and how to manage relationship with regulators

Programme Coverage

  • Overview of the governance structures relating to AML/CFT in FIs Nigeria
  • Legal and regulatory frameworks guiding AML/CFT in Nigeria
  • The relationship between AML and corporate governance
  • Anti-money laundering compliance programme
  • The elements of an AML programme
  • The importance of corporate governance in AML
  • Skills and the role of the AML CCO/MLRO
  • The use of technology and the role of compliance/AML software
  • Building a risk-based CDD and KYC process
  • Transaction reporting and recordkeeping
  • Compliance monitoring programme
  • Communicating essential AML and compliance issues
  • Red flags or indicators of money laundering and terrorist financing (examples)
  • Managing relationship with regulators
  • The EU General Data Protection Regulation (GDPR)

Who Should Attend?

  • AML and Compliance Officers and professional
  • Cluster Compliance and AML Officers
  • Internal auditors
  • Regulators

Duration: 1 day (In-house/In-plant only)

Date: As agreed with our client

Programme fee: As negotiated

Key benefits: Improved AML/CFT and regulatory compliance skills of AML/Compliance officers, programme materials and certificate of participation