Money Laundering Regulations 2017

Money Laundering Regulations 2017

Trainology LearnGO
Updated Jun 10, 2019

Course Overview

This engaging and interactive online course is designed to raise your awareness of money laundering and provide you with an overview of The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, which commenced on 26 June 2017.

Target Audience

The Money Laundering Regulations 2017 apply to various business sectors in the UK, including legal, financial services, accountants, estate agents and any other businesses working in a regulated environment. It is a legal requirement for these businesses to put systems and controls in place to prevent financial crime, money laundering and counter-terror financing.

Learning Outcomes

The course is divided into four sections with integrated knowledge checks to test your understanding. An optional 10-question quiz is available at the end to successfully complete the course :

  • Introduction: what money laundering is, the stages of money laundering and the main offenses of money laundering.
  • New risk assessment requirements: the five risk factors, conducting a risk assessment of your business, implementing systems, controls, prodedures and policies.
  • Conducting customer due diligence (CDD): implementing and complying with CDD, enhanced due diligence (EDD) and simplified due diligeence (SDD).
  • Record keeping and data protection: obtaining and retaining records, data sharing, letters and registers.

Business Outcomes

The course will assist organisations and employees to meet their legal responsibilities for combatting financial crime. Organisations are legally responsible for taking steps to ensure they do not get involved in money laundering.