Online: Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Risk-based Supervision of Financial Institutions (AMLCFTX)
This course, presented by the Legal Department, is designed to highlight the key and core building blocks of a risk-based regulation and supervision framework of off- and on-site activities for supervisory authorities. It discusses the risk-based approach to AML/CFT regulation and supervision, as applied to financial institutions subject to the Core Principles and takes into account the importance of developing robust and effective risk-based supervisory frameworks in line with the international standards for the banking, securities, and insurance sectors.
Target Audience
This course is intended for officials from ministry of finance or equivalent body, financial intelligence units (FIUs), central banks, supervisory bodies and public-sector audit bodies who can benefit from a deeper understanding on how to develop and implement a risk-based approach to AML/CFT supervision of financial institutions.
Qualifications
Participants are expected to have at least three to five years of experience in the implementation of a risk-based approach for AML/CFT supervision of financial institutions subject to the Core Principles. Access to a computer with a reliable internet connection are essential.
Course Objectives
Upon completion of this course, participants should be able to:
- Understand the necessary legal and regulatory framework critical for AML/CFT risk-based supervision.
- Identify higher risk areas based on the risk factors (i.e., customers, products/services, geographical areas, and delivery channels).
- Develop appropriate risk-based supervisory methodologies, tools, systems, and processes for regulated entities or sectors.
- Formulate appropriate supervisory strategies, plans, and approaches based on the results of risk assessments.
- Allocate supervisory resources based on risks identified.
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