Luxembourg Takes Aim at Financing of Terrorism with New E-Learning Course

Combating the Financing of Terrorism

In a bid to combat the financing of terrorism in Luxembourg, the country has launched an innovative e-learning course aimed at educating users on anti-money laundering and combating terrorist financing laws and regulations.

Key Objectives

The three core objectives of the e-learning course are:

To provide a basic understanding of money laundering and terrorist financing
To highlight their impact on society
To familiarize users with the stakeholders, laws, and regulations governing anti-money laundering and combating terrorist financing in the EU and Luxembourg

Course Outline

Throughout the 10-module program, participants will gain insights into:

The definition and scope of money laundering
Its social impact
The concept of terrorist financing, including its definition, vulnerable organizations, and comparison with money laundering
Proliferation financing, discussing UN resolutions, global security, and red flags

AML/CTF Basics

A key module focuses on AML/CTF basics, covering topics such as:

Board responsibility
Compliance
Policies and procedures
Risk-based approach
Identification and verification
Beneficial owners
Source of funds
Screening processes

Participants will also learn about sanctions, including:

Client screening
Freezing regimes
Economic sanctions

Consequences of Non-Compliance

The course highlights the consequences of non-compliance with AML/CTF regulations, including:

Global penalties
Reputational damage
Impact on employees

EU and Luxembourg Regulations

The course also provides an in-depth look at AML/CTF regulations in the EU and Luxembourg, covering:

European stakeholders
Directives
Risk assessments
Beneficial owners
Sanctions

Tax Crimes

Finally, the course addresses tax crimes, discussing:

FATF recommendations
Tax offenses
Sanctions
Penalties
21 common indicators of tax crime

Course Details

The e-learning course is designed to be completed within 120 minutes, with an additional 10 minutes allocated for questions. To order licenses, users can contact customer@houseoftraining.lu, which will provide the necessary steps to follow.

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