

THE BAHAMAS INSTITUTEOF FINANCIAL SERVICES
"Keeping Financial Services Education Relevant to Industry Needs"
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COURSE DESCRIPTION
The frontline staff of any financial institution is the first line of defense for Anti-Money Laundering and Terrorist Financing. Therefore, an ill-trained frontline staff could lead to the collapse of an institution or the imposing of enforcement actions from the regulators. A strong and well-educated frontline staff will help develop a strong compliance department for your institution.
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This introductory certificate course aims to provide practical, integrative knowledge and understanding of compliance and anti-money laundering. This course will also prepare the students to pursue the Diploma in Anti-Money Laundering and Compliance, an international designation offered in collaboration with the International Compliance Association and The Bahamas Association of Compliance Officers.
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What you will learn?
Understanding Money Laundering
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Drug Trafficking
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All Crimes
Understanding Terrorist Financing
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9/11
The Bahamian Legal System
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The Tracing and Forfeiture of the Proceeds of Drug Trafficking Act 1987
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The Money Laundering (Proceeds of Crime) Act 1996
Anti AML & CTF Programs
Statutory Requirements:
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Identification
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Record Keeping
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Training
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Monitoring
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Reporting- MLRO’s
International Standards;
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FATF
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CFATF
IMF/World Bank-FSAP
Customer Due Diligence
Risk-Based Approach
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Simplified Due Diligence
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Enhanced Due Diligence
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Politically Exposed Persons (PEPS)
Court Orders
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Production Order
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Search Warrant
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Restraint Order
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Charging Order
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Confiscation Order
Compliance Systems
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The Bahamian Regulatory System
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The Regulators
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The role of the Compliance department
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The Compliance Officer
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The role of the External Auditor
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The role of the Board of Directors
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Duration: 5 Weeks
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Days: Saturdays
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Time: 9:30 a.m. - 12:30 p.m.
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Learning Platform: Via Zoom
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Fee: $695 (members) and $795 (non-members) + Registration $50.00
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Payment Plans are available
ACCREDITATION

The National Accreditation and Equivalency Council (NAECOB) is a statutory body established under the National Accreditation and Equivalency Council ACT of The Bahamas on the 4th of October, 2006; assented on 29th of December, 2006 and came into force 28th February, 2007. NAECOB is responsible for registering and accrediting primary schools, secondary schools, post-secondary schools, and any institution that offers training in The Bahamas. The National Accreditation and Equivalency Council of The Bahamas began operation in 2016.