Anti-Money Laundering – Singapore

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Course Description

Training on Anti-Money Laundering Compliance

The Anti-Money Laundering course trains reporting entities and their representatives to understand their anti-money laundering compliance obligations and provides a general understanding of the risks related to money-laundering and terrorism financing.

Over $US1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $US200 billion is laundered in the Asia-Pacific region alone.

Businesses need to prepare an effective anti-money laundering policy consistent with anti-money laundering guidelines.

We explain how to adopt an Anti-Money Laundering program, conduct Know-Your-Customer procedures and to provide reports to the Monetary Authority of Singapore.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who needs to comply with AML regulations?

Singapore’s AML/CFT regime mainly applies to individuals and companies engaged in financial service businesses.

Some obligations vary depending upon the services a company provides.

For example, certain organisations such as banks, financial advisers, life insurers, money changers and trust companies, have additional AML/CFT obligations if they are exposed to a high AML/TF risk.

Nevertheless, the obligations may apply to anyone in the course of his or her professional or business duties, including the duty:

  • to report suspicious transactions
  • not to enter into arrangements that facilitate the retention of benefits of crime
  • not to acquire, possess, use, conceal or transfer benefits of criminal conduct

This anti-money laundering course is for …

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services with a money laundering risk, such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations; anti money laundering policies and procedures
  • Module 5: Terrorist financing

Anti-Money Laundering – New Zealand

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Course Description

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) is the primary legislation intended to satisfy New Zealand’s international obligations to combat money laundering. The Act establishes the grounds for prevention, detection, investigation and prosecution of money laundering.

This course will help you understand the various identification and reporting obligations of the Act as well as related legislation such as the Terrorism Suppression Act 2002. Key concepts and obligations are set out, from corporate compliance, customer relationships, and customer due diligence to suspicious transactions and the suppression of terrorism.

Employees of financial institutions need to understand their obligations under the Act to ensure all reasonable steps are taken to deter their institution and its products and services from being used by a person who is laundering money.

Who is this training for?

You should complete this course if you are involved in a compliance or risk management function, with the processing of financial transactions or with the opening of accounts at a financial institution or casino.

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: Money laundering risks
  • Module 3: Customer Due Diligence
  • Module 4: Monitoring and Reporting Obligations
  • Module 5: Terrorist financing

Anti-Money Laundering – Malaysia

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an Anti-Money Laundering program, conduct Know-Your-Customer procedures and to provide reports to Bank Negara Malaysia.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing

Anti-Money Laundering – Financial Services

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing

Anti-Money Laundering

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing

Anti-Bribery and Corruption (non-jurisdictional)

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Course Description

Globally, governments are looking at ways of reducing the prevalence of bribery and corruption in business dealings through increasingly serious laws and regulations. The number of foreign corruption cases and the severity of the penalties are likely to keep increasing.

This course explains bribery and corruption in simple and understandable terms. We look at the Australian legislation and what is happening internationally. Examples are used from recent news headlines and local cases to emphasise the importance of compliance and reinforce lessons learned through scenarios presented throughout the program.

Who is this training for?

This course is recommended for those who run the risk of being on the receiving end of bribery in both the public and private sectors.

The training is pitched at two levels: the basic modules cater to all employees while the management-only modules cover the in-depth knowledge.

A further non-compulsory module teaches staff on how to deal with officials in other countries.

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Course Outline

  • Module 1: Introduction
  • Module 2: Soliciting and receiving bribes
  • Module 3: Working with overseas countries
  • Module 4: Advanced bribery and corruption

BEAR Training

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Course Description

The Banking Executive Accountability Regime (BEAR) imposes significant accountability obligations on Authorised Deposit-taking Institutions. The amended Banking Act provisions target senior executives and impose significant penalties for a failure to comply with the BEAR transparency and accountability obligations administered by the Australian Prudential Regulation Authority (APRA).

Who is this training for?

This training applies to all individuals classed as an “Accountable Person” in your organisation. It will also be useful to your staff involved in administering the BEAR.

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Course Outline

  • Module 1: Introducing the BEAR
  • Module 2: BEAR: Reporting, Remuneration and Conduct

Anti-Bribery and Corruption

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Course Description

Globally, governments are looking at ways of reducing the prevalence of bribery and corruption in business dealings through increasingly serious laws and regulations. The number of foreign corruption cases and the severity of the penalties are likely to keep increasing.

This course explains bribery and corruption in simple and understandable terms. We look at the Australian legislation and what is happening internationally. Examples are used from recent news headlines and local cases to emphasise the importance of compliance and reinforce lessons learned through scenarios presented throughout the program.

Who is this training for?

This course is recommended for those who run the risk of being on the receiving end of bribery in both the public and private sectors.

The training is pitched at two levels: the basic modules cater to all employees while the management-only modules cover the in-depth knowledge.

A further non-compulsory module teaches staff on how to deal with officials in other countries.

Course Outline

  • Module 1: Introduction
  • Module 2: Soliciting and receiving bribes
  • Module 3: Working with overseas countries
  • Module 4: Advanced bribery and corruption

Complaints Handling

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Course Description

  • Why we have a structured complaints-handling process
  • What we mean by a “complaint”
  • Who can make a complaint
  • Dealing with complaints
  • The complaints process
  • Timeframes for dealing with complaints
  • The feedback loop
  • Unresolved complaints and the role of the EDR Scheme
AML/CTF Training for finance sector

AML/CTF Training for finance sector

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Course Description

Money laundering is the process by which money obtained through criminal activities is given the appearance of having come from a legitimate source. The money in question may come from drug trafficking, terrorist activities, tax evasion or other crimes. It usually involves moving the funds around the banking system until they can no longer be linked to the criminal activities they were sourced from.

In order to reduce the risk of money laundering and the financing of terrorism, reporting entities have obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.
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Who should do this training

This training is designed as an introduction for all employees of deposit taking institutions that operate only in Australia. It also includes advanced modules relevant to managers and staff with specialised roles
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For more information on other GRC Solutions’ AML/CTF training resources:

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Australia

Anti-Money Laundering– covering the responsibilities of financial services and other businesses in general

New Zealand

Anti-Money Laundering – New Zealand

USA

Anti-Money Laundering – USA

Singapore

Anti-Money Laundering – Singapore

Malaysia

Anti-Money Laundering – Malaysia

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Course Outline

  • Module 1: Introducing AML/CTF
  • Module 2: ML/TF Methodologies
  • Module 3: Customer due diligence
  • Module 4: Ongoing customer monitoring
  • Module 5: Reporting to AUSTRAC