Designed and reviewed by top AML experts, this comprehensive program consists of 19 modules giving you a full understanding of your responsibilities under these laws including appointing a compliance officer, registering as an MSB, dealing with suspicious transactions, reporting electronic funds transfers, conducting internal audits, and more!
View the complete program below.
MODULE 1: APPOINTING A COMPLIANCE OFFICER
Money Service Business (MSB) Managers become acquainted with the regulatory requirements for appointing a compliance officer.
MODULE 2: MSB REGISTRATION
MSB managers are familiarized with the requirements for registering their business as per legislation.
MODULE 3: BEST PRACTICE TO EVIDENCE – A RISK-BASED APPROACH
MSB managers are introduced to a “best practice” risk-based design approach in order to be able to demonstrate sound criteria for their decisions relative to the identified risks.
MODULE 4: COMPLIANCE TRAINING
MSB Managers are provided with a framework for the development of an internal compliance training program.
MODULE 5: KNOW YOUR CLIENT
MSB employees acquire knowledge and skill to ensure a comprehensive approach is established for client identification and for completion of “Know Your Client” assessment forms.
MODULE 6: CUSTOMER DUE DILIGENCE
MSB employees learn how to assess the risk level associated with transactions.
MODULE 7: GEOGRAPHIC TARGETING ORDERS, HIGH-INTENSITY DRUG TRAFFICKING PROGRAM (HIDTA) & HIG-INTENSITY FINANCIAL CRIME AREA (HIFCA) (U.S. ONLY)
MSB managers are familiarized with the US Geographic Targeting Order as per regulatory requirements.
MODULE 8: DEALING WITH SUSPICIOUS TRANSACTIONS
MSB employees gain knowledge and skills needed to identify suspicious activities and attempted transactions to complete and file the required reports to FINCEN (US) and FINTRAC (CDA).
MODULE 9: DEALING WITH TERRORIST ACTIVITY
MSB employees are provided with key indicators to identify terrorist property and activities and to complete and file required terrorist forms to FINCEN or FINTRAC.
MODULE 10: REPORTING LARGE TRANSACTIONS
MSB employees learn how to categorize and file large transaction reports either to FINCEN or FINTRAC.
MODULE 11: REPORTING ELECTRONIC FUNDS TRANSFERS
MSB employees are provided with the regulatory requirements for filing electronic funds transfer (EFT) and guidance on how to complete the required EFT filing to either FINCEN or FINTRAC.
MODULE 12: RECORD KEEPING – LARGE TRANSACTIONS
MSB employees are provided the rationale and benefits for maintaining accurate and current customer records on LCTs.
MODULE 13: RECORD KEEPING – CUSTOMER INFORMATION
MSB employees receive further information and rationale for the maintaining and recording of accurate information on all customers and their activities.
MODULE 14: CUSTOMER PRIVACY
MSB managers and employees become acquainted with the fundamentals of privacy management and its importance to AML compliance.
MODULE 15: NETWORK & RECORD SECURITY
MSB employees are provided with techniques for maximizing security of their workplace computers based on industry best-practices.
MODULE 16: 3RD PARTY DETERMINATION
MSB employees acquire knowledge on the nature and context of third party transactions and the requirements relative to AML.
MODULE 17: NON-COMPLIANCE SANCTIONS
MSB managers are provided with industry best-practices for the development of a progressive discipline program for employees who demonstrate misconduct or lack of competence relative to the AML program requirements.
MODULE 18: INDEPENDENT AUDIT
MSB managers are provided with an understanding as to the value and importance of having an effective independent external audit.
MODULE 19: INTERNAL AUDIT
MSB managers acquire knowledge to develop terms of reference for an internal audit and learn how to conduct an internal audit on a regular basis.