Anti-money Laundering (aml) And Counter-terrorist Financing (cft) In Digital Payments Training Course

Introduction

Strengthen your financial crime prevention strategies with our essential Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments Training Course. This program examines the challenges of combating financial crime in digital payment environments, including transaction monitoring, customer due diligence, and regulatory compliance, ensuring your institution can effectively mitigate risks in the digital age. In an era where digital payments are increasingly prevalent, mastering AML and CFT compliance is crucial for central banks seeking to maintain financial integrity and combat illicit activities. Our central bank AML/CFT training course provides in-depth knowledge and practical applications, empowering you to implement robust compliance frameworks.

This Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments training delves into the core components of financial crime prevention in digital payments, covering topics such as transaction monitoring, customer due diligence, regulatory compliance, and the latest AML/CFT regulations. You’ll gain expertise in using industry-leading tools and techniques to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments, meeting the demands of contemporary financial security. Whether you’re a compliance officer, risk management specialist, or policy researcher within a central bank, this Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments course will empower you to drive strategic compliance initiatives and optimize financial security outcomes.

Target Audience:

• Compliance Officers (Central Banks)
• Risk Management Specialists (Central Banks)
• Policy Researchers (Central Banks)
• Legal Counsel (Central Banks)
• Payment Systems Experts (Central Banks)
• IT Security Auditors (Central Banks)
• Financial Crime Analysts (Central Banks)

Course Objectives:

• Understand the fundamentals of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments.
• Master the challenges of combating financial crime in digital payment environments.
• Utilize transaction monitoring techniques for detecting suspicious activity.
• Implement effective customer due diligence (CDD) and enhanced due diligence (EDD) procedures.
• Design and build compliance frameworks for AML/CFT regulations.
• Optimize methodologies for ensuring regulatory compliance in digital payments.
• Troubleshoot and address common challenges in AML/CFT compliance.
• Implement strategies for enhancing the detection and prevention of financial crime.
• Integrate AML/CFT measures with existing payment infrastructure.
• Understand the legal and regulatory foundations of AML/CFT.
• Explore emerging trends in AML/CFT compliance for digital payments.
• Apply real world use cases for AML/CFT in digital payment systems in central banking.
• Leverage AML/CFT compliance tools and platforms for efficient implementation.

Duration

10 Days

Course content

Module 1: Introduction to AML/CFT in Digital Payments

• Fundamentals of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) in Digital Payments.
• Overview of financial crime challenges in digital payment environments.
• Setting up a framework for robust AML/CFT compliance.
• Introduction to transaction monitoring, customer due diligence, and regulatory compliance.
• Best practices for AML/CFT compliance implementation initiation.

Module 2: Combating Financial Crime Challenges

• Mastering the challenges of combating financial crime in digital payment environments.
• Implementing risk-based approaches and typologies of financial crime.
• Utilizing models for assessing the risks associated with digital payments.
• Designing and building financial crime prevention frameworks.
• Best practices for financial crime prevention.

Module 3: Transaction Monitoring

• Utilizing transaction monitoring techniques for detecting suspicious activity.
• Implementing rule-based and anomaly detection systems.
• Utilizing real-time monitoring and alert management.
• Designing and building transaction monitoring systems.
• Best practices for transaction monitoring.

Module 4: Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)

• Implementing effective customer due diligence (CDD) and enhanced due diligence (EDD) procedures.
• Utilizing identity verification and KYC (Know Your Customer) processes.
• Implementing risk assessment and screening procedures.
• Designing and building CDD/EDD frameworks.
• Best practices for customer due diligence.

Module 5: Regulatory Compliance Frameworks

• Designing and build compliance frameworks for AML/CFT regulations.
• Utilizing FATF recommendations and local regulations.
• Implementing reporting and record-keeping requirements.
• Designing and building compliance programs.
• Best practices for regulatory compliance.

Module 6: Ensuring Regulatory Compliance

• Optimizing methodologies for ensuring regulatory compliance in digital payments.
• Utilizing compliance management systems and audit trails.
• Implementing training and awareness programs.
• Designing and building compliance monitoring strategies.
• Best practices for regulatory compliance assurance.

Module 7: Troubleshooting AML/CFT Compliance Challenges

• Troubleshooting and addressing common challenges in AML/CFT compliance.
• Analyzing compliance gaps and regulatory changes.
• Utilizing problem-solving techniques for resolution.
• Resolving common transaction monitoring and CDD issues.
• Best practices for issue resolution.

Module 8: Enhancing Detection and Prevention

• Implementing strategies for enhancing the detection and prevention of financial crime.
• Utilizing advanced analytics and machine learning.
• Implementing information sharing and collaboration strategies.
• Designing and building detection and prevention systems.
• Best practices for financial crime detection.

Module 9: Integration with Payment Infrastructure

• Integrating AML/CFT measures with existing payment infrastructure.
• Utilizing APIs and interoperability standards.
• Implementing secure integration and user experience.
• Designing and building integration models.
• Best practices for system integration.

Module 10: Legal and Regulatory Foundations

• Understanding the legal and regulatory foundations of AML/CFT.
• Utilizing international standards and national laws.
• Implementing legal frameworks for data protection and compliance.
• Designing and building robust theoretical frameworks.
• Best practices for foundational understanding.

Module 11: Emerging Trends in AML/CFT Compliance

• Exploring emerging trends in AML/CFT compliance for digital payments.
• Utilizing AI-driven compliance and risk assessment.
• Implementing blockchain-based compliance solutions.
• Designing and building future-proof compliance systems.
• Optimizing advanced compliance applications.
• Best practices for innovation in AML/CFT.

Module 12: AML/CFT Compliance Tools and Platforms

• Leveraging AML/CFT compliance tools and platforms for efficient implementation.
• Utilizing compliance management systems and transaction monitoring software.
• Implementing KYC and CDD platforms.
• Designing and building automated compliance workflows.
• Best practices for tool implementation.

Module 13: Monitoring and Metrics

• Implementing AML/CFT project monitoring and metrics.
• Utilizing compliance KPIs and risk assessment metrics.
• Designing and building performance dashboards.
• Optimizing monitoring for real-time insights.
• Best practices for monitoring.

Module 14: Future of AML/CFT Compliance

• Emerging trends in AML/CFT technologies and frameworks.
• Utilizing AI-driven compliance analysis and risk assessment.
• Implementing decentralized compliance models.
• Best practices for future compliance management.

Module 15: Security Automation in Compliance Systems

• Automating security tasks within compliance systems.
• Implementing policy-as-code for compliance checks.
• Utilizing automated vulnerability scanning for compliance data.
• Best practices for security automation within compliance systems.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.