Course Description:

This 2-day intensive course is designed for bankers and people working in the financial services industry to provide them with a better understanding of:

  • Money laundering and terrorist financing;
  • Suspicious transaction reporting and suspicious activity indicators;
  • Customer due diligence and record keeping; and
  • International regulatory standards.

This course is designed to provide a practical approach to the subject providing detailed examples and guidelines to identifying and managing AML and terrorist financing issues.

An effective AML compliance program requires sound risk management; to this end this course provides guidance on identifying and controlling risks associated with money laundering and terrorist financing. The course provides an overview of AML compliance program requirements, AML risks and risk management expectations, industry sound practices, and examination procedures.

Areas Covered:

This structured course provides a complete structured package for learning in all main aspects of the subject of identifying and managing money laundering activities. It will enable participants to plan and manage the planning and implementation of AML management processes in their organization.

Learning Objective:

The aim of the course is to provide;

  • An understanding of Money Laundering in all its facets
  • Techniques for identifying, managing/mitigating Money laundering activities
  • Practical coaching on how to implement the material learned in practice in a banking organization.

Course Objectives:

After completing this course participants will be able to:

  • Understand their responsibilities in respect of anti-money laundering and counter-terrorist financing,
  • Appreciate the risks of money laundering and terrorist financing specific to your financial/ business sector,
  • Identify suspicious transactions in the course of your business/operations, and
  • Understand the legal obligations to report suspicious transactions.
  • Examine individual cases and be able ask all the right questions.

Who will Benefit:

Which organizations that should attend?

  • Commercial Banks
  • Central Banks
  • Investment Banks
  • Other financial institutions

Who should attend the Course?

  • Compliance Officers
  • Financial Officers
  • Risk Officers
  • Internal Auditors
  • Operational Risk Managers
  • Staff with roles and responsibilities in AML and anti-terrorist financing activities.

Methodology and Topic Background:

This training course uses a combination of prepared tuition, examples, and case studies. Most importantly it will offer participants, opportunities to plan such work within small working groups, providing practice in the application of the techniques and tools generating active participation.

Case study materials as well as lecture presentations to set out the key issues in developing good AML and anti-terrorist financing activities in banks.


Day One (8:30 AM – 4:30 PM) Day Two (8:30 AM – 4:30 PM)

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

  • Introduction
    • Criminal activities
    • Typology of economic corruption
    • The impact of corruption
    • Why money laundering is a problem
  • Money Laundering
    • Examples of money laundering
    • The concept
    • Terrorist financing
    • The legal framework
  • Classic Money Laundering Methods
    • Classic
    • The Loan Back
    • The Money Broker Shuffle
  • Money Laundering – the Detail
    • What is money laundering?
    • Placement and its various forms
    • Layering
    • Integration
  • How Banks Fit In
    • Why banks are so important
    • Bank risk areas
    • High-risk countries
    • Depositing laundered funds
    • Suspicious signs
    • Suspicious sale of monetary instruments
    • Suspicions currency exchange
    • Safe deposit
    • Money laundering account activity
    • Offshore transactions
    • Wire transfers
    • International correspondent accounts
    • Private banking
    • Trusts
    • Payable through accounts
    • Lending
    • Letters of credit
    • Discount Brokerage, Securities and Investment
    • Securities
    • Insurance
    • Bank employees and agents
    • New money laundering schemes
  • Financial Action Task Force (FATF)
    • FATF’s role
    • The 40 Recommendations
    • The 9 Special Recommendations
  • CASE STUDY: Training - The Key to a Successful AML Program
  • In this case study we take a close look at how Kenya’s M-PESA mobile money system handles staff training. This case study clearly illustrates how the various AML principles are built into the training program. The case study includes a detailed discussion and exercise.

  • CASE STUDY: Sanctions Screening – Part 1
  • We examine the concept as sanctions screening and the role it plays in countering money laundering and terrorist activities. We deal at length with laws and the reporting of suspicious activities using the United States as the basis for our review. The case study includes a detailed participant discussion.

  • Investigating Suspicious Transactions
    • The investigation process
    • Documenting the findings
    • Concluding the investigation
    • The Suspicious Transaction report
    • What regulators need to be concerned about

  • Bank Examination Techniques
    • The examiner’s role
    • The bank’s compliance program
    • Compliance program elements
    • Senior management commitment
    • Internal audit program
    • Compliance officer
    • Training
    • Bank examination approaches
    • Examining the bank’s compliance program
    • High risk areas
    • Review of internal audit
  • CASE STUDY: Sanctions Screening – Part 2
  • Building on Part 1 of this case study from day 1 we look a six recent cases of global banks who were found guilty of contravening sanction screening activities through the infamous process of “payment stripping”. We conclude with a participant discussion.

  • Transaction Testing
    • Examining transactions – in this section we look at what transactions need to be scrutinized and what we need to be suspicious of.
    • Transaction types covered include: cash, wire transfers, international correspondent accounts, sale of negotiable instruments, safe custody, deposit boxes, lending, private banking, foreign exchange procedures, letters of credit, investments, insurance, Internet banking
    • Important people – Potentiates, Foreign Heads of State, Military Commanders, State Officials.
    • Reporting your findings
  • Non-Bank Organizations
    • Who they are
    • Regulations relating to these organizations
  • CASE STUDY: Fire & Ice – A case of two extremes
  • This case study looks at global HSBC bank and examines two separate incidents of potential/actual money laundering activities, how they were and were not handled allowing us to draw some powerful lessons. This case study is wide ranging and covers such issues as;

    • Suspected money laundering activities
    • Mexican drug barons
    • Dealings with Iran
    • Suspicious travelers cheques

    The case study includes a detailed discussion and exercise.

  • Practical Tips in AML Management
    • Bank officers: Do’s & Don’t’s
    • What KYC means …. And what it does NOT mean!
    • Advantages of KYC standards
    • Core elements of KYC
    • Measures to deter money laundering
    • Suspicions transactions and their red flags
    • Customer Due Diligence – FAQ
    • The Customer Due Dillignce (CDD) formula
    • Main elements of a KYC program
    • Major areas of verification difficulty
  • Concluding Case Studies and Discussion
  • To wrap up the course we offer four separate, but distinctive, case studies – from the US, the UK, Kenya and South Africa. For each study we present the participants with the facts and then we pose a series of questions on each case.

    The ensuing discussions will allow participants to use their newly gained knowledge of money laundering and terrorist financing to draw the right conclusions to this intensive two-day program.

Meet Your Instructor

Stanley Epstein
Banking, Payments, Operational Risk & Back Office Specialist and Bank Trainer

Stanley Epstein has had extensive experience in banking and IT specifically the operations, payments, RTGS and the operational risk aspects of banking in the UK, Europe, the USA, Australia and Southern Africa. His bank-operations, payments systems, operational risk and clearing house experience is wide ranging and includes working closely with organisations such as UNCITRAL, Deutsche Bank and CHIPS in New York; APACS, British Bankers Association, CLS and Barclays Bank in London; Crédit Agricole in France; UBS and Credit Suisse in Switzerland, the central bank in the Netherlands; Alpha Bank in Greece; the central bank in Romania; the central bank in Kazakhstan; Bank Leumi and the central bank in Israel; the Standard Bank, Clearing Bankers Association; Bankserv and the central bank in South Africa and ANZ and Commonwealth Bank in Australia.

Commencing his career at the Standard Bank of South Africa he gained a thorough grounding in all aspects of banking ranging from the bank’s branch system, back-office payments processing. He was also closely involved in the development of electronic banking at the Standard Bank. At a banking industry level he was involved in the creation and development of STRATE (Central Securities Depository in South Africa dealing with the dematerialization, clearing and settlement of all financial instruments in that country. He also served as Vice Chairman of the South African Clearing Bankers Association’s ERAG Group (an interbank payments/operations risk initiative established to identify & eliminate operational, legal and other risks in electronic payments) and later as Chairman of the Payments Association of South Africa Operational Risk Committee. On leaving South Africa he joined Fundtech Corporation, a leading provider of financial technology based in the US.

Stanley has a Master’s degree in Economics which he earned with a dissertation on Financial Innovation and a Bachelor of Commerce degree in Accounting.

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Written cancellations through fax or email (from the person who has registered for this conference) received at least 10 calendar days prior to the start date of the event will receive a refund — less a $200 administration fee. No cancellations will be accepted — nor refunds issued — within 10 calendar days before the start date of the event.

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This was a well-organized event. The speaker was very informative and the seminar was covering great real life examples that kept everyone engaged. ComplianceOnline is very helpful and it has a professional approach in conducting regulatory trainings.
- Third Party Vendor Management Lead, JPMorgan Chase

The seminar was very informational and the material is very useful in implementing risk assessment program in organizations.
- Cash Management Operations Assistant Manager, Flushing Bank

Instructor was highly knowledgeable and the subjects were well chosen.
- Audit Supervisor, Flushing Bank

Speaker did a great job and topics related to operations risk structures and frameworks were highly useful.
- Manager, Discover Home Loans, Inc.

This was a very informative seminar. The presenter had thorough knowledge on the subject. He was providing good examples on each topic as he went through the program.
- Deposit Operations Manager, AVP, Flushing Bank

It was a good introduction into risk assessment.
- AVP, Risk Management, MB Financial Bank

Presenter was very knowledgeable on the topic.
- Assistant Vice President/Branch Operations Team Leader, Flushing Bank

Real world examples discussed during the seminar was beneficial.
- VP of Operations, Southwest Securities

This seminar was very informative and the speaker was very knowledgeable. Case studies discussed were highly useful.
- Assistant Security Officer, Flushing Bank

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Local Attractions

It is the official London residence of the Queen and principal workplace of the British monarch. It is located in the City of Westminster. Open for tours during the summer months only, but a must-see sight even if you don't go in.

The London Eye is a giant Ferris wheel situated on the banks of the River Thames in London. The entire structure is 135 meters (443 ft.) tall and the wheel has a diameter of 120 meters (394 ft.). It is the tallest Ferris wheels in Europe and the most popular paid tourist attraction in the UK. London Eye is visited by over 3.5 million people annually.

Situated just south east of the City, is London's original royal fortress by the Thames. It is over 900 years old, contains the Crown Jewels, guarded by Beefeaters, and is a World Heritage site. It is also considered by many to be the most haunted building in the world. If you are interested in that sort of thing it’s definitely somewhere worth visiting.

Tower Bridge (built 1886–1894) is a combined bascule and suspension bridge in London, over the River Thames. It is close to the Tower of London, from which it takes its name. it has become the iconic symbol of London.

This museum in London is dedicated to human history and culture. Its permanent collection, numbering some eight million works, is among the largest and most comprehensive in existence and originates from all continents, illustrating and documenting the story of human culture from its beginnings to the present.

St Paul's Cathedral, London, is a Church of England cathedral and seat of the Bishop of London. The cathedral is one of the most famous and most recognizable sights of London, with its dome, framed by the spires of Wren's City churches, dominating the skyline for 300 years. St Paul's Cathedral occupies a significant place in the national identity of the English population.

It is a major tourist attraction located in Central London, housed in the former London Planetarium. It is famous for recreating famous people and celebrities, in wax.

The National Gallery is an art museum on Trafalgar Square, London. Founded in 1824, it houses a collection of over 2,300 paintings dating from the mid-13th century to 1900.

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