Risk Based Approaches to AML/CFT Supervision (AMLS)

related image
Course No.: ST 17.21
Location: Singapore, Singapore
Date: October 23, 2017-October 27, 2017 (1 Week)
Language: English

Target Audience:

Legal drafters, policy makers, financial sector supervisors, and regulators of designated non-financial businesses and professions; financial intelligence unit (FIU) officials; criminal justice officials; other government officials involved inundertaking national money laundering and terrorist financing risk assessments, preparing for their countries' mutual evaluations and the implementation of anti-money laundering (AML) and combating the financing of terrorism (CFT) laws.


Participants should have a minimum of two-year experience in AML/CFT issues. Attendance is by invitation only. Prerequisites are specified in invitation letters.

Course Description:

This workshop focuses on the measures that bank supervisors should adopt to establish risk-based mechanisms, tools and practices to oversee the effectiveness with which banks manage their money laundering/financing of terrorism (ML/TF) risks. The course aims to enhance participants' understanding of the requirements of the FATF 40 recommendations generally and more specifically as they relate to the supervision of banks. In particular, the workshop will discuss (i) approaches to assessing ML/TF risk at the national and institutional levels, (ii) the preventive measures that should be adopted by financial institutions; (iii) the development of tools that enable supervisors to assess institutions' inherent ML/TF risk and the quality of their risk management and (iv) methodologies for determining institutions net ML/TF risk and prioritizing institutions for supervisory oversight. Whilst the discussions will focus upon bank supervision they will apply to most major financial sectors. The course will also discuss the experience of countries that have been assessed under the FATF 2013 Assessment Methodology, with a specific focus on the assessment of Immediate Outcome 3.Course Objectives: Upon completion of this course, participants should be able to:- Outline, summarize, and analyze the implementation of the FATF 40 Recommendations.- Develop a medium-term action plan to strengthen their national AML/CFT framework.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.