Understanding Source of Wealth and Source of Funds
- 90 Minutes
- All Levels
- 18 Lessons
- 1 Quiz
This Source of Wealth and Source of Funds AML online training course is self-paced and will give you the opportunity to raise awareness by explaining what Source of Wealth and Source of Funds is and how critical it is for individuals to be aware of any of the red flags while performing a review of a client. The course is designed for professionals who work in a regulated sector or anywhere large amounts of money, property or goods are bought, leased, sold or exchanged.
In this course you will learn about the following:
- Understanding the impact of money laundering and terrorist financing on our society
- Explain the stages of money laundering
- Demonstrate the key elements of Source of Wealth and Source of Funds
- Identify and explain the different types of Source of Wealth
- Have a better understanding of the difference between Source of Wealth and Source of Funds
- Understand what are Red Flags
Who is the course suitable for?
- Anyone with an interest in Anti Money Laundering/Know Your Customer
- New entrants in AML Compliance/Client onboarding roles
- Consultants, Project managers, operational staff or anyone whose role involves managing risk in the customer onboarding process
Benefits of taking this AML/KYC course:
Enhance your knowledge, stand out from the rest of your peers but most importantly it will keep you in compliance with the current AML regulations with your jurisdiction where professionals are required to be trained on AML on an ongoing basis.
This course can be taken at your own pace in any of the following formats:
- Desktop
- Laptop
- Tablet
- Smartphone devices
This course includes:
- 70 minutes video lessons,
- End of course quiz 10 questions -20mins
- Certificate of Completion
Course Curriculum:
- What is Money Laundering
- What is Terrorist Financing
- The Money Laundering cycle
- Where does money laundering occur
- The impact of money laundering on our society and economy
- Why is it important to understand Red Flags
- What are Red Flags
- Red Flag Indicators at Onboarding
- Red Flag Indicators during the lifespan of the relationship Reporting Suspicious
Behavior - How to improve the assessment and identification of Red Flags
- Course Recap
- End of course Quiz – 10 questions – 20
As well as the above courses, we can also work with you to tailor make your training which will cater to your business needs.
- Understanding Source of Wealth and Source of Funds
- Introduction to Customer Risk Rating
- What are Virtual Currencies
- Introduction to Screening
- Understanding Red Flags
AML Video Tutorials
As well as providing online courses, we also provide a wide range on AML tutorial videos. Each video focuses on a chosen subject and explains the processes in a clear and engaging way. Some of the videos we provide are:
- The difference between Tax avoidance and Tax evasion?
- What are Red Flags?
- What is Customer Due Diligence?
- What is a PEP?
- What is Transaction Monitoring?
We have numerous AML Tutorial videos readily available, but we can also work with you to customize videos to meet your own AML business needs.
