Introduction to the Prevention of Money Laundering

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Introduction to the Prevention of Money Laundering

Money Laundering can damage independent businesses and financial institutions which is detrimental to the overall economy of a country. In this short course, you’ll learn how to prevent money laundering in your company.

Endorsed by Highfield

Introduction to the Prevention of Money Laundering

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About this Course

This course provides the knowledge and skills necessary to prevent money laundering in your company. It covers the legislative framework concerning money laundering, including the Proceeds of Crime Act 2002 and the Terrorism Act 2000.

In this course, you will learn what money laundering is and how its three-stage process works. You will also learn to detect signs of suspicious activity and take practical steps towards preventing money laundering in the organization.

Businesses in the UK lose an estimated £90 billion annually because of money laundering. Money laundering is used to make the proceeds from illegal activities appear clean or legitimate. By allowing money laundering to happen, a business might be indirectly supporting such criminal activities as human trafficking, drug trade or sex slavery.

This course is ideal for managers and employees who may be in a position where there is a potential risk of money laundering. This includes anyone working in the financial services sector or anywhere where large amounts of money, property or goods are bought, leased, sold or exchanged.

We also offer Introduction to the Bribery Act 2010 course

People also search for Introduction to Fraud and Fraud Prevention

Did you know: Around £100 billion of dirty money passes through UK systems and services every year.

  • Help protect your business and employees from the serious consequences Money Laundering can result in

  • Suitable for all employees & managers

  • Perfect as part of an employee induction plan

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After successfully completing the course you will receive an e-certificate that you can download onto your device.

Areas Covered

  • What is Money Laundering?

    Learn what money laundering is.

  • Cash-based Money Laundering

    Learn what ‘cash-based money laundering’ and ‘high-end money laundering’ are, and how the two are different from each other.

  • International Legislative Framework

    Learn how money laundering is combated internationally, in the European Union and in the United Kingdom.

  • Regulations

    Find out what key requirements must regulated businesses fulfil in order to comply with the Money Laundering Regulations.

  • Regulated Businesses

    Learn which businesses count as regulated, and which supervisory authorities are responsible for monitoring them.

  • The Terrorism Act 2000

    Learn what terrorism is, what the Terrorism Act 2000 entails, and how it helps curtail terrorist activities.

  • Proceeds of Crime Act 2002

    Get familiar with the part of the Proceeds of Crime Act 2002 which deals with money laundering and learn the requirements it lays on financial institutions and businesses in the regulated sector, as well as those that are not regulated.

  • The Risk-Based Approach

    Learn how a risk-based approach can enable businesses to identify risks that are most relevant to the business and to control those risks in a cost-effective way, focusing efforts and resources on the areas where the risks are highest.

  • Anti-money Laundering Policy Statement

    Learn, with the help of activities, what should be included in an anti-money laundering policy statement.

  • Controls and Monitoring

    Learn the steps that can be taken to prevent money laundering and report any suspicious activity once a business is aware of potential threats.

  • Customer Due Diligence

    Learn when and how to carry out customer due diligence checks and what steps to take if there are doubts about the identity of a customer or ‘beneficial owner.

  • Training

    Learn why providing employees with training to prevent money laundering is important and what should the training consist of.

  • Record-keeping

    Learn why keeping comprehensive, accurate and up-to-date records will enable a business to prove that it has complied with the requirements of the Money Laundering Regulations, what should be included in the records and how long should the records be kept for.

  • Red Flags

    Learn what should be considered a suspicious activity, or a ‘red flag’ that indicates that a suspicious activity is taking place.

  • Suspicious Activity Report (SAR)

    Learn how to report any suspicious activity related to money laundering within the company and which government agency the suspicious activity report be submitted to.

Anti Money Laundering Training
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FAQ's

Once you have accessed your course for the first time, you have 1 year to complete it.

Our e-learning is available to use on tablets, PCs, and laptops. All you need is a stable internet connection.

A learning management system or LMS is a software application for the administration, tracking, reporting, automation, and delivery of learning content. It is the system that learners will log into, to access their courses, and administrators will use to manage their learners.

The Tutorak LMS has been created with the needs of a business in mind; it reduces the time and effort required to administer training and features detailed reports on training progress. We have worked in partnership with many businesses and organisations and have gained a unique understanding of the challenges they face while delivering training to a workforce. This has allowed us to create a flexible system which can be modified according to the needs of your company.

When you purchase a course, you receive two emails, a payment receipt and login credentials to access the LMS. You can click on the link provided in the email to go to the login page and enter the provided details to log in to your account.

For the purchase of a single course license, you will be given details to access a learner account, where you can take your course directly. Any purchases above a single course license will automatically generate details for an administrator account for you to manage the learners that will be taking the course.