Course Overview

Participant will get complete knowledge of concept and process of Money Laundering, comprehensive understanding of Anti Money Laundering Act, 2010, responsibility and liability of financial institutions and non-financial business and professions and predicate crimes.

Course Outline

• Money Laundering Risks
• Concept of KYC: Meaning & Core Element of KYC
• Risk Based Approach
• High Risk Customers
• High Risk Products & Services
• AML/CFT Regulations by SBP & SECP
• Customer Due Diligence-CDD
• CDD-Deficiencies & Red Flags
• Concepts of Correspondence Bank
• Wire Transfer & Fund Transfers
• Reporting of Transactions
• Record Keeping
• Prosecution, Punishment and Penalties under the AML Act, 2010