Course Description

Synopsis:

This module is crafted to provide an in-depth exploration of the intricate world of money laundering, a critical issue that poses significant risks to financial institutions and economies worldwide. Participants will embark on a journey to understand the sophisticated techniques employed by launderers to disguise the illicit origins of their funds.

It will dissect various money laundering schemes, with a particular focus on trade-based money laundering (TBML), a complex method that manipulates international trade to legitimise dirty money. Participants will be equipped with the knowledge to recognise the red flags associated with money laundering activities, enabling them to identify and respond to potential threats effectively.

It also shares the summary of Corruption, Drug Trafficking, and other Serious Crimes Act (CDSA) and National Asset Recovery Strategy in Singapore. Participants will gain insights into the stringent measures and best practices adopted to combat money laundering, including Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and ongoing transaction monitoring.

Participants will conclude this module with a comprehensive understanding of the Anti-Money Laundering (AML) landscape and the measurements in place to protect their organisations from the reputational and financial damages of money laundering.

Outline of the Module:

1. Introduction to Money Laundering Techniques
2. Key AML Legislations
3. Measurements to Combat Money Laundering

Learning Outcomes:

At the end of this module, participants should be able to:

• Describe typical money laundering techniques
• Identify key red flags that provide possible indication of money laundering activities
• Understand CDSA and the National Asset Recovery Strategy in Singapore
• Explain the differences between customer due diligence and enhanced due diligence
• Describe an effective ongoing transaction monitoring 

Intended For:

• Audit Professionals / PAIP 
• Finance Professionals  / PAIB 
• Public Sector Finance
• C-suite & Directors

Competency Mapping:

• CPE Category 2 = 1.0 Hour