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

Programme Overview

Money Laundering and terrorist financing issues are high among the list of challenges facing financial institutions in the 21st century. As a result of the menace of the twin challenge of money laundering and terrorist financing, global bodies like FATF and the Wolfsberg Group, as well as local regulatory bodies such as the CBN, SEC and NAICOM have documented steps to be taken by financial institutions to prevent the use of their institutions for money laundering and terrorist financing. Also, global and domestic regulatory compliance trends such as the introduction of General Data Protection Regulation (GDPR) by the EU, the mandatory requirement for the use of National Identification Number (NIN) for account opening and the newly released gazette CBN AML/CFT Administrative Sanctions regime require attention.



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 insight into 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
  • What is money laundering (ML)?
  • The elements of an AML programme
  • The relationship between AML and corporate governance
  • Know Your Customer (KYC) and Customer Due Diligence (CDD)
  • Transaction reporting
  • Recordkeeping
  • 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?

  • Front-line and customer facing employees of financial institutions and DNFBPs
  • Client engagement employees
  • AML and Compliance Officers
  • All employees


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 employees, programme materials and certificate of participation