THE BAHAMAS INSTITUTEOF FINANCIAL SERVICES

This course is designed to assist students and/or employees from banking, insurance, securities, credit unions, money lenders, money transfer businesses, law/accounting firms, hospitality, or any place of employment with a deeper knowledge and understanding of Anti-money laundering/counter-terrorist financing (AML/CTF) requirements under the legislation.

 

The approach taken is both domestic and international practices which are to be implemented by institutions.

 

This course provides a general overview of the legal principles in banking law with case studies and articles related to banking in The Bahamas. It is recommended that students complement their studies of banking law with a legal dictionary.

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COURSE OBJECTIVES

• Upon conclusion of this course, students should be able to:

• Demonstrate a practical understanding of the legal framework relating to AML/CTF;

• Apply the knowledge to practical everyday money laundering issues in a comprehensive manner;

• Critically evaluate AML/CTF issues involved in products and transactions;

• Effectively risk profile customers and understand the due diligence requirements.

• Illustrate the integration of information learned with practical problem-solving and resolution of AML/CTF issues. 

 

TOPICS

 

1. ANTI-MONEY LAUNDERING/COUNTER-TERRORIST FINANCING IN CONTEXT

2. LAUNDERING THE PROCEEDS OF TAX EVASION

3. TERRORIST FINANCING – COMPLIANCE WITH SANCTIONS REGIMES

4. RISK MANAGEMENT

5. COMPREHENSIVE COMPLIANCE SYSTEMS

6. RISK-BASED DUE DILIGENCE

7. CUSTOMER RISK PROFILING

8. SUSPICIOUS ACTIVITY REPORTS

9. COOPERATION WITH ENFORCEMENT AUTHORITIES AML/CTF GOVERNANCE AND LEADERSHIP

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• Duration: 10 Weeks

• Days: Thursdays

• Time: 6:30 p.m. - 9:00 p.m.

• Learning Platform: Via Zoom

• Fee: $895 (members) and $995 (non-members) + Registration $50.00

• Payment Plans are available