Overview of FATF Recommendations and Guidance on Politically Exposed Persons PEPs and PEP related AML/CFT Compliance
Hello and Welcome to this course.
What you’ll learn
- Money Laundering ML, Examples of ML Activities, and Anti-Money Laundering AML Measures.
- Overview of ‘High-Risk Jurisdictions’, and ‘Most Serious Jurisdictions’ as per Financial Action Task Force (FATF).
- Understanding FATF ‘Risk Based Approach RBA’, ‘High Risk Customers’ and High Risk Factors.
- Understanding FATF Recommendations No 1, 10, and 12 in context of Politically Exposed Persons (PEPs) Due Diligence.
- Understanding Politically Exposed Persons (PEPs) and related Parties as per FATF.
- Understanding Customer Due Diligence and Enhanced Due Diligence CDD/EDD requirements for Politically Exposed Persons (PEPs).
- PEP Screening as part of CDD, Sources of PEP Information for identification and verification as per FATF.
- Case Scenario and Examples.
Course Content
- Introduction –> 2 lectures • 5min.
- Understanding Fraud, Money Laundering ML, and Anti-Money Laundering AML –> 6 lectures • 21min.
- Politically Exposed Persons PEPs, Types and Related Persons/Individuals – FATF –> 8 lectures • 16min.
- Understanding FATF Recommendations – RBA, CDD, PEP –> 13 lectures • 1hr 1min.
- Multiple Choice Questions MCQs –> 0 lectures • 0min.
Requirements
Hello and Welcome to this course.
Before discussing the course content, I have some questions for you to consider;
1. Do you know that the biggest challenge for financial institutions is to identify, assess, and mitigate Money Laundering ML, Terrorist Financing TF, and Proliferation Financing PF Risks and Activities?
2. Do you who are ‘Politically Exposed Persons – PEPs, and PEP related Parties?
3. Do you how financial institutions manage PEP Risks?
4. Do you know the AML and Customer Due Diligence CDD Compliance requirements for PEPs?
5. Do you know what are the key Financial Action Task Force FATF Recommendations for Politically Exposed Persons PEPs and their Activities?
After attending this course, you will get the answers to the above key questions.
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ABOUT THE COURSE
This course is designed to provide you with a practical insight and knowledge of;
- Anti-Money Laundering and Countering Financing of Terrorism AML/CFT Compliance,
- Overview of FATF Recommendations and Guidance on Risk-Based Approach RBA, Customer Due Diligence and ‘Politically Exposed Persons PEPs, and
- AML and Due Diligence CDD/EDD requirements for PEP Customers.
To understand FATF’s Recommendations dealing with PEPs and their activities, we need to understand FATF Recommendations No. 1, 10, 12, and some other FATF Recommendations, which we shall cover in this course. We will also discuss examples and scenarios in this course.
COURSE TOPICS
In this course, you will get an insight into, what should Institutions and Organizations know regarding the application of FATF Recommendations for PEPs, to enable a strong AML/CFT Compliance culture and avoid/mitigate PEP risks leading to financial and reputational losses.
You will learn the:
– Money Laundering and Terrorist Financing with Examples
– Anti Money Laundering AML
– High-Risk Jurisdictions, and Most Serious Jurisdictions by FATF,
– Counter Measures Suggested for Most Serious Jurisdictions,
– Overview of Jurisdictions under Increased Monitoring by FATF
– High-Risk Factors and examples
– Politically Exposed Persons PEPs and Related/Associated Parties
– Overview of FATF Recommendations 1, 10, and 12
– Overview of FATF’s Risk-Based Approach RBA
– FATF Recommendations on PEP Due Diligence – CDD/EDD
– FATF Guidance on PEP Sources of Information for CDD/EDD
– FATF Guidance on Occasional PEP Customers and their CDD/EDD
– Politically Exposed Persons PEPs ML/TF risk factors
– Practical Scenario and Examples
QUIZ TEST
A QUIZ TO TEST YOUR KNOWLEDGE ABOUT FATF RECOMMENDATIONS AND GUIDANCE ON AML/CFT, DUE DILIGENCE CDD/EDD, AND PEP
WHY THIS COURSE
This course will help you understand the fundamentals of AML Compliance and FATF Recommendations related to PEPs. This course will help you in your job particularly if your area is Compliance, Anti Money Laundering AML, CDD/KYC, Regulatory Compliance, Customer Relationship, Risk Management, or Audit. After attending this course you will be able to confidently talk and communicate with Compliance, AML / CFT, CDD/KYC professionals, audit, and other related professionals.
Worldwide institutions spend Millions of Dollars to strengthen their AML/CFT processes and measures. Institutions are required by regulatory authorities and FATF to manage their ML/TF/PF risks, therefore they hire specialist AML/CFT compliance professionals who not only understand the AML/CFT regulations but also understand the FATF Recommendations necessary to combat ML/TF/PF risks.
Who is this course for:
- Compliance professionals and Consultants
- Anti-Financial Crime Professionals
- AML/CFT Professionals and Consultants
- Due Diligence and Know Your Customer CDD/KYC Professionals
- FATF Compliance Professionals
- Real Estate Owners/Professionals
- Accountants and Legal Advisors
- Company / Business Owners and their Leadership
- Professionals working in Regulated Institutions and DNFBPs
- Regulatory Compliance professionals
- Risk management professionals and students
- Internal audit professionals and students
- Internal controls professionals
- Finance professionals and students
- CAMS, and AML/CFT students
- ACCA, CPA, CGA, CMA students