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Money Laundering Awareness
About the course
Money Laundering Awareness shows users how to assess the risk of money laundering in their business and report suspicious transactions or activities. The course aims provide an understanding of what the everyday responsibilities are under the money laundering regulations and the measures that can be taken to protect businesses against the risk of money laundering.
You will be able to:
- Explain the three stages of money laundering
- Identify which business sectors money laundering regulations apply to
- Outline the use of a ‘risk-based’ approach to preventing money laundering and list the five stages of a risk assessment
- Apply customer due diligence measures in appropriate circumstances
- Complete a policy statement for your business detailing your approach to preventing money laundering
- Outline the role of the nominated officer
- Recognise suspicious transactions and submit a Suspicious Activity Report if necessary
- Outline offences relating to money laundering under the Proceeds of Crime Act 2002
Learners will be assessed throughout the course, with a total of 15 questions. 70% of the questions will need to be answered correctly in order to pass.