Anti-Money Laundering in Money Service Businesses

A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. It's important that these organisations understand and can meet the special legal requirements placed on them as these exist to help battle organised crime and terrorist financing in the UK and beyond. Some of these requirements place additional duties and responsibilities on organisations operating within the regulated sector because of the high-risk nature their work.

Anti-money Laundering for MSBs eLearning – Course Overview

Our specialist Anti-money Laundering for MSBs eLearning course is divided into six short-courses (or modules) so that learners can take and revisit specific topics as required. Each module tackles an important element in the fight against money laundering, focussing equally on current regulation standards and increased awareness as to the red flags and signs of money laundering activity. The course is broken-down into the following modules:

1. Legislation, Responsibility, and Policy
2. What is Money Laundering?
3. Identifying Unusual Activity
4. Reporting Unusual Activity
5. Travel and Corporate Customers
6. Accounting Red Flags

What to expect from our Anti-money Laundering Modules:

Suitable for employees at all levels, our anti-money laundering short-courses cover the following information collectively:

• What money laundering is and how and why it takes place
• What constitutes a money laundering offence
• What the 'regulated sector' is, and the role of the bodies that regulate it
• An overview of unusual activities which may indicate money laundering taking place
• What to look out for with both regular customers and new customers to spot signs of money laundering
• A close look at money laundering legislation, e.g. POCA (Proceeds of Crime Act 2002), MAR (Market Abuse Regulations), and CFA (Criminal Finances Act 2017)
• What the regulations require from 'relevant persons' in your organisation
• The roles, responsibilities, and policies your organisation must put in place to comply with legislation
• An in-depth look at the accounting 'red flags' that indicate a high-risk for money laundering activity
• What transaction patterns are and how to stay aware of them

Course duration: 10-15 minutes per module (x6)

As with all of our Compliance eLearning you can tailor this course to your specific requirements using the Adapt Authoring Tool

You can buy this course on its own or for greater value why not buy the full suite of compliance training courses?