AML and CFT Training Programme
An IBF-accredited online training course, this Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) training programme introduces the basic concepts, knowledge of current trends in Singapore and the steps to take to reduce AML/CFT risks within financial organisations.
Identify and Manage Money Laundering Risk
Money laundering and terrorism financing continues to pose a major risk to financial institutions and the financial market. Across the globe, financial institutions are faced with an increasingly threatening landscape. Complex challenges, developments in technology, increased digitalisation of services, surge of regulatory pressure and increasing amount of data are accentuating the need for financial institutions to implement an effective AML/CFT compliance framework.
This IBF-accredited training programme equips learners with current knowledge of developments and trends in the AML/CFT space in Singapore, provides an introduction to understanding the basics of AML/CFT, and sets out the steps to take to reduce AML/CFT risks within their organisations.
This course is delivered virtually during a 90-minute live webinar.
The course is delivered by live webinar and runs for 90 minutes with 60 minutes for the main course with case studies and a further 30 minutes for the assessment. PowerPoint slides will be shared after the training session.
AML/CFT training course outline
The course will cover the following topics:
- what is money laundering?
- money laundering processes and techniques
- Singapore laws and international standards
- stages of money laundering
- understanding AML/CFT risks within organisations
- who is responsible for AML/CFT?
- key overview of regulatory provisions including offences and penalties
- enterprise-wide risk assessment
- customer due diligence
- ongoing monitoring
- suspicious transactions monitoring and reporting
- learn to define money laundering and terrorism financing and recognise key stages and common techniques used by money launderers
- understand the purposes and methods of money laundering and terrorism financing activities
- understand money laundering/terrorism financing risks faced by companies
- understand minimum MAS requirements for regulated companies with regards to AML/CFT
- gain a general understanding of conducting due diligence checks, AML screenings and risk assessments for customers
- understand suspicious transactions reporting requirements.
Nithi Genesan has over 15 years of regulatory and compliance experience in the financial sector. She holds a Master’s degree in Applied Finance from the Manchester Business School, an International Compliance Association Diploma, and is a graduate from the National University of Singapore.
Nithi is an experienced compliance trainer, conducting training for institutions ranging from asset management entities to large banks. This includes, working with the Institute of Banking and Finance (IBF) to obtain accreditation for compliance training courses in Singapore, and working with Chartered Alternative Investment Analyst (CAIA) Association to establish compliance training.
Who should attend?
All officers and employees of licensed, regulated fund management companies in Singapore, such as:
- board of directors and senior management
- compliance officers and managers
- personnel involved in customer onboarding, investor relations and customer-facing including client services management teams
- all other employees.
Assessment and certificate
A certificate of 1.5 hours of supplementary CPD hours under both the Securities and Futures Act (SFA) as well as the Financial Advisers Act (FAA) will be provided to those who complete the course and pass the assessment. To pass, attendees must achieve mark of 12 out of the 15 MCQ questions and will be given 2 tries to pass.
The assessment must be completed within 5 business days after the training session in the participant’s own time.
Eligible individuals will be able to pay subsidised fees for our training course. Please refer to IBF’s Financial Training Scheme for more details. The eligibility requirements include:
- Company-sponsored individuals (where company sponsors refer to financial institutions regulated by Monetary Authority of Singapore);
- Singapore citizens or Singapore Permanent Residents physically based in Singapore; and
- Successful completion of the financial training scheme recognised programme (i.e. completion of our course and passing assessment).
For participants who would like to enjoy IBF subsidized fee, please note that Waystone Compliance Solutions (Singapore) Pte Ltd. would require a copy of your NRIC / Singapore passport for verification of eligibility.
- SGD 195.00 (incl. GST) * – (Singapore Citizens and PR) excludes 30% of the fees which may be subsidised by IBF, subject to fulfilment of eligibility criteria, OR
- SGD 95.00 (incl. GST) * – (Singapore Citizens aged 40 years old and above will be eligible) excludes 70% of the fees which may be subsidised by IBF, subject to fulfilment of eligibility criteria; OR
- SGD 270.00 (incl. GST) – Full course fee without IBF subsidy.