CPD - Anti-Money Laundering (AML) courses

CPD - Anti-Money Laundering (AML) courses

08 Feb 2023

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Anti-money laundering (AML) compliance is one of the contentious and pressing issues in global finance today and an increasingly relevant area for professionals to keep up-to-date with. In this CPD article, we will explain what anti-money laundering is and its importance, as well as why you should take an anti-money laundering course and the best courses to take for your Continuing Professional Development.

What is money laundering?

Money Laundering, essentially, is the process of concealment of the origins of illegally obtained money, via means of investments or legitimate front. Money laundering is a significant issue that has appeared in many infamous cases by organised crime groups or as well publicised scandals for banks, corporations or politicians and thus anti-money laundering (AML) practices have become increasingly topical and urgent.

Examples of offences that are linked to money laundering are broad ranging and include, but are not limited to: Tax evasion, Theft and Fraud, Bribery, Corruption and Drug or human trafficking among others.

What is anti-money laundering (AML)?

Anti-money laundering comprises a number of different methods, legislation and training with the aim to prevent finical crime and the illegal use of finances. In the modern technology age, channels into international financial systems have become digitised, offering increased opportunities to money launderers for easy and more opaque movement of funds or fraudsters for nefarious activity.

As a result, this has created a market need for intelligent, flexible, and easy-to-use anti money laundering solutions as well as robust international institutions to police and monitor the world’s movement of money. Important and recognised global institutions in the fight against money laundering include:

  • The International Monetary Fund (IMF). The IMF regulates and compels 189 member states to comply with international standards to prevent terrorist financing.
  • The European Union released the first anti-money laundering Directive in 1990 to prevent the financial system's misuse of money laundering.
  • Several organizations exist in the U.K. to prevent financial crime, including the National Crime Agency (NCA), Serious Fraud Office (SFO), Financial Conduct Authority (FCA) and the Treasury (HMT).
Preventing money laundering activities

Why take a money laundering CPD course?

Money laundering can undermine the integrity of national economies and financial systems. For the UK, given its important international role in finance, the ease of its company formation regime, and safe-haven status of its property market, appearing as an attractive prospect depends on ensuring that its financial system is seen as clean and free from criminal intent.

Apart from regulatory necessity, legality and the avoidance of penalty, robust anti money laundering compliance and knowledge of the subject is of benefit to all involved. Anti-money laundering CPD courses are, therefore, essential learning if you are a professional in a related industry and can help to open up new employment opportunities.

Money laundering CPD Courses can teach you the fundamentals of tackling laundering and will assist in the real world tackling of crimes of all types, and to identify money that is being used for other criminal purposes as well as the financing of criminal organisations. It can also be said that through appropriate anti-money laundering training, you will be in a better position to know how to better protect the most vulnerable members of society facilitated by accurate and reliable financial processes.

What will I learn from an anti-money laundering CPD course?

There are many anti money-laundering courses you can take available either online or from reputable educational establishments. Subjects covered in finance and anti-money laundering CPD courses vary significantly due to preference or length and duration of learning, however, there are some key areas you should have covered in any course you may attend.

Common subjects which you can learn from an anti-money laundering course include:

  • The impacts of money laundering
  • The various stages and signs of money laundering
  • The laws regarding money laundering and anti-money laundering policy
  • Understanding money laundering and its role in financing of terrorism and evading sanctions
  • The Vulnerabilities of financial institutions to money laundering
  • The strategies for anti-money laundering and combating terrorist financing in practice
  • Legal and regulatory structures as well as management obligations in the risk-based approach to money laundering.
CPD courses in anti-money laundering

What are the best anti-money laundering CPD courses?

When looking for the best anti-money laundering course, it is essential to thoroughly research the training provider’s credentials and what qualification or proof of learning you will receive, especially if there is a financial cost involved so you can be sure it is worth your commitment and that you will get the most value out of learning.

One of the simplest ways to make sure that any training is of high-quality is to take part in a CPD certified activity, and that it has been accredited by an independent organisation or an established professional body, college or academic institution. This will provide assurance, as that course will have had prior review and fulfil any recognised learning standards, industry requirements or benchmarks.

Where to find anti-money laundering CPD courses?

There is an ever growing amount of relevant anti-money laundering and finance related CPD courses, training and other learning options available online. Established in 1996, The CPD Certification Service is the world’s leading and largest CPD accreditation organisation working across all industry sectors. A key selection of certified activities and training hosted on behalf of our members can be found on the CPD Courses Catalogue.

To find out more about a particular CPD course listed on our website, you can click on each course and there is an enquiry form that will be sent directly to the relevant CPD provider.

How to become an accredited CPD training provider

We hope this article was helpful. If you are considering becoming a CPD training provider, please contact our team to discuss your requirements in more detail. Alternatively, if you are looking to record your Continuing Professional Development, please go to the myCPD Portal where you can manage, track and log your learning in one simple place.

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