Financial Crime World

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Swiss Companies Must Up Their AML Game: Training for Employees a Must

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Switzerland remains a major financial hub, requiring companies operating in the country to ensure compliance with Anti-Money Laundering (AML) regulations. To combat money laundering and terrorist financing, a comprehensive training program has been designed specifically for Swiss employees.

The AML Compliance Masterclass: A Five-Day Intensive Course

The AML Compliance Masterclass is a five-day intensive course that provides participants with a deep understanding of the regulatory environment, Know Your Customer (KYC), Customer Due Diligence (CDD), sanctions monitoring, and the role of the Money Laundering Reporting Officer. The program covers emerging industry sectors and their associated risks, as well as global laws and regulations applicable to Switzerland.

Course Objectives

  • Understand the process of money laundering
  • Comprehend regulations applicable to firms and banks
  • Learn about the roles of the Financial Action Task Force (FATF) in AML
  • Understand penalties for non-compliance with AML legislation
  • Learn how to prevent and detect suspicious transactions

Training Methodology

The training methodology is designed to be highly practical, featuring:

  • Case studies
  • Group live instruction
  • Presentations
  • Ongoing discussion of worked examples
  • Encouragement of interaction and engagement throughout the course

Benefits of the Training Program

Organizations that invest in this training program will benefit from:

  • More effective support for their AML teams
  • Greater relevance and reliability of regulatory analysis
  • More strategic thinking
  • Better use of high-risk indicators

Individual participants can expect to gain a deeper understanding of:

  • Money laundering
  • Terrorist financing
  • Sanctions
  • Legal and regulatory structures surrounding AML
  • Industry practices, problems, and solutions
  • Increased confidence in completing tasks successfully

Target Audience

The course is designed for staff with specific anti-money laundering duties, anti-money laundering and compliance professionals, senior management, and anyone responsible for ensuring AML compliance within their organization.

Course Outline

The five-day course covers the following topics:

Day 1: Basics of AML and countering terrorist financing

  • Definitions
  • Key stages
  • Typologies
  • Indicators

Day 2: International organizations’ response to AML and CTF

  • FATF and its roles
  • Customer policies
  • International legislation

Days 3 and 4: Compliance strategies, laws and regulations, internal controls, procedures, and policies

  • Cooperation with authorities
  • Know Your Customer rules
  • Tipping-off
  • Market abuse
  • Client relations
  • Human resources strategies

Day 5: Recognizing and reporting suspicious transactions

  • Statutory obligations
  • Identifying high-risk indicators
  • Record keeping