AML/CFT & KYC Compliance Senior Course (Management, Supervisory & Specialist Categories)
This programme will be facilitated by Certified and highly qualified AML Consultants, using the most up-to date training methodology in the market;
– Experiential and interactive approach,
– Group discussions and syndicate case studies,
– Audio-visual presentations.
Your Investment: Ksh. 30,000 per person plus VAT.
Venue: The Nairobi Safari Club, University Way
Dates: 19th – 20th July, 2018
This course will be non-residential. Participants not residing in Nairobi are advised to plan their own accommodation and transport arrangements.
Banks and other Financial Institutions are attractive to money launderers because of the many and varied financial services they offer, including a worldwide financial network.
Financial Institutions can take deposits, handle large amounts of currency and move it quickly.
Funds deposited at a bank provide the appearance of legitimacy. Furthermore, they can use the services of banks located in financial haven countries, many of which have strict secrecy rules and may not reveal customer information to law enforcement authorities.
BUT: While banks can be used by money launderers, they can also be used by law enforcement to identify and stop money launderers, because:
a) Banks’ procedures create an audit trail, which can be followed
b) Records of account activity are created, which can be reviewed by authorities.
However, money launderers can and do take advantage of inconsistent banking laws and regulations to launder money.
The Kenya Institute of Bankers will be conducting AML/CFT and KYC senior course from July, 19th to 20th 2018 at The Nairobi Safari Club.
This course is intended to enable participants grasp the gravity of AML/CFT & KYC Compliance in the Financial Services sector today in order to proactively combat money laundering by being vigilant of any unusual activity in banking transactions.
The course will also seek to explore the initiatives currently being taken globally to combat money laundering activities, and how these challenges may affect all of us as individuals, as employers and the national economy at large.
1. Fundamentals of Money Laundering
a) The stages of Money Laundering Cycle
b) The Economic and social Consequences of Money Laundering
c) Methods of Money Laundering
d) Banks and other Depository Institutions, NBFIs, Non-Financial Businesses & Professions
2. Key Risks & Considerations:
a) Risks associated with New Technologies
b) Types of New Technologies – Internet Banking, Internet Casinos, Prepaid Cards & E-Cash
c) Structures Designed to Hide Beneficial Ownership
d) Terrorist Financing
e) Detecting Terrorist Financing
3. Case Studies on International and Global Outlook
4. Highlights from POCAMLA & POTA Laws in Kenya
a) Impact on Financial Institutions
b) Roles & Responsibilities
5. Compliance Standards for Anti-Money Laundering and Combating the Financing of Terrorism
a) Combating the Financing of Terrorism
b) Financial Action Task Force
c) Financial Action Task Force 40 Recommendations
6. Compliance Culture and Senior Managements Role
a) Fundamentals of Customer Due Diligence (CDD) Program
b) Know your Employee
c) Suspicious or Unusual Transaction Monitoring and Reporting
d) Red Flags or Indicators of Money Laundering
e) Electronic Anti-Money Laundering Solutions
7. A Risk-Based Approach to managing your Anti-Money Laundering Compliance programme:
a) Assessing the risk and developing Risk Scoring Model
b) Factors to determine Risk
c) What risks your customers and products or services pose?
d) Delivery channels risks
e) Geography/country risks
f) Other qualitative risk factors
g) Evaluation of your AML/CFT programme
h) Residual risk
i) Reporting requirements
8. Related case studies/simulation exercises:
a) Identification of suspicious banking activities
- Course Sub-Category AML/CFT & KYC Compliance Senior Course
- Course Level Tertiary
- Qualification Awarded Certificate
- Awarding Body KIB
- CostKSh. 30,000 Tuition Fee per Person + VAT
- Length Of Course 2 Days
- Class Size
- Course Location/BranchNairobi Safari Club, University Way
1. Bank Executives & Senior Management,
2. Compliance Officers,
4. All Branch Managers,
5. Senior Risk Management,
6. Operational Risk Managers,
7. Finance Managers,
8. Audit & Assurance Officers
Course Advertisement Details
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The Kenya Institute Of Bankers (KIB) is the world’s leading institute for business continuity. Established in 1979, the KIB has established itself as the leading membership and certifying organization for Business Continuity professionals worldwide.
To champion best practice in the delivery of financial services education, to promote professionalism, self-regulation and acceptable standards in the Financial Services Sector, through innovative learning, codes of conduct, quality skills and competencies.
To become the leading professional body in the promotion and delivery of quality financial services education and training.
Students deserve dependable, accurate, timely, respectful and honest responses. Advisors' responsibilities to their many constituents form the foundation upon which our Core Values rest.
The Overall Responsibility of the Institute is to;
1. Produce relevantly–educated and trained career staff for the financial sector.
2. Cater for students with a wide range of abilities and backgrounds.
3. Provide Professional Qualifications and Skills Upgrading Training
4. Programmes which enjoy wide recognition and acceptance throughout the Financial Services Sector.
5. Retain and sustain continued support by Employers – Banks/Financial Institutions.
6. Be perceived by all staff/students/members to be fair and worthwhile.
7. Allow ambitious, high quality staff to acquire high qualifications.
8. Provide broad based, educational programmes for those preparing for management in the industry.