Requirements

• No prerequisite required

Description

In the modern financial landscape, Targeted Financial Sanctions (TFS) are essential tools in combating financial crimes, terrorism, and ensuring global security. Financial institutions play a critical role in implementing and adhering to TFS requirements. This comprehensive course is designed to provide compliance professionals, AML officers, and financial crime specialists with the knowledge and skills needed to implement effective sanctions screening and management programs.

Through in-depth lessons, practical exercises, and real-world examples, you will gain the ability to confidently navigate the complexities of TFS, from understanding its regulatory framework to leveraging advanced technologies like Artificial Intelligence (AI). By the end of this course, you will be equipped to protect your organization from the risks of onboarding sanctioned individuals and entities, ensuring compliance with global standards.

Learning Objectives:

By the end of this course, learners will:

1. Understand the fundamentals of Targeted Financial Sanctions and their importance in AML/CFT compliance.

2. Learn the global framework for imposing sanctions and how they are implemented by financial institutions.

3. Master the process of name screening for customers and prospective customers, including identifying false positives and exact matches.

4. Explore the best practices and technologies used in sanctions screening globally.

5. Understand the consequences of non-compliance, including onboarding proscribed individuals or entities.

6. Learn how to manage proscribed lists, screen PEPs, and incorporate adverse media into screening processes.

7. Understand the role of AI in enhancing sanctions screening and risk mitigation.

8. Learn to coordinate with law enforcement agencies (LEAs) and establish an internal Combat Financial Terrorism Desk.

Who this course is for:

• Compliance
• AML officers