Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising, illegally obtained funds as legitimate income. Though anti-money laundering laws cover a limited rangeof transactions and criminal behavior,their implications are far-reaching.
Anti-money laundering awareness rose to global prominence in 1989, when a group of countries and organizations around the world formed the Financial Action Task Force (FATF). Its mission is to devise international standards to prevent money laundering and promote its implementation. In October 2001, following the 9/11 terrorist attacks, FATF expanded its mandate to include combating terrorist financing.
This programme envisages confidence building among the participants, by improving their knowledge & skills in the area of KYC and AML. The programme takes the participants through a logical journey, right from getting conceptual clarity on various aspects of KYC & AML to understanding intricacies involving implications to safeguard the Institutions.
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