Anti-Money Laundering, Countering the Financing of Terrorism and Combating Proliferation Financing For Payment Service Providers (PSPs)
This course covers the subject(s) of money laundering, terrorist financing and proliferation financing for Payment Service Providers (PSPs). It delves into what they are, their history, how they are done and how to counter them.
Curriculum
- 12 Sections
- 54 Lessons
- 7 Quizzes
- 2h Duration
Financial Crimes Overview
2 Lessons
- Table of Abbreviations
- Definitions
Money Laundering
5 Lessons1 Quiz
- Money Laundering
- Stages of Money Laundering (ML)
- Predicate Offenses which Generate Illicit Funds
- Money Laundering Typologies in PSPs
- Case Study: Central Bank of Kuwait Fines E‑Payment Service Provider
- Knowledge Check 1 – Money Laundering
Terrorism Financing
5 Lessons
- Terrorism Financing
- Recent Terrorist Attacks in Kenya
- Stages of Terrorism Financing
- 14 Riverside Drive Dusit D2 Terrorist Attack
- Following the Money in the 14 Riverside Drive Attack
Proliferation Financing
3 Lessons
- Proliferation Financing (PF)
- Dual-use Goods
- Proliferation Financing in Africa
Money Laundering vs Terrorist Financing vs Proliferation Financing - A comparative analysis
1 Lesson1 Quiz
- A comparative analysis
- Knowledge Check 2 – TF and PF
Sanctions
8 Lessons1 Quiz
- What are Sanctions?
- Comprehensive Sanctions
- Sectoral Sanctions
- Sanctions Evasion Techniques
- Sanctions Screening for PSPs
- Consequences of breaching Sanctions
- How to Mitigate Terrorism, Proliferation and Sanctions Risks
- Case Study: Payoneer Settles Sanctions Violations Case
- Knowledge Check 3 – Sanctions
Regulatory Framework
7 Lessons1 Quiz
- AML/CFT/CPF Regulatory Landscape – Kenya
- Applicable AML/CFT/CPF Regulators
- POCAMLA – Obligation Highlights
- Offenses
- Fines & Penalties for Non-Compliance with the Act
- POTA (Prevention of Terrorism Act) – Obligations
- Offences – POTA (Prevention of Terrorism Act)
- Knowledge Check 4 – Regulatory Obligations
Customer Due Diligence (CDD)
5 Lessons
- Customer Due Diligence (CDD) Obligations
- Beneficial Ownership (BO)
- Levels of Due Diligence
- Enhanced Due Diligence (EDD)
- Ongoing Monitoring
Dealing with High-Risk Clients
3 Lessons1 Quiz
- Politically Exposed Persons (PEPs)
- Adverse Media Mentions
- Case Study: Swedish PSP Fined for AML/CFT Deficiencies
- Knowledge Check 5 - CDD
Effective Management of ML/TF/PF Risks
5 Lessons
- The Three Lines of Defense
- The Three Lines of Defense (2)
- First Line: Business Teams - Risk Owners
- Second Line: Risk & Compliance
- Third Line: Internal Audit – Independent Assurance
Obligations
10 Lessons1 Quiz
- Responsibilities of the Board
- Responsibilities of the Management
- Responsibilities of the MLRO
- Staff Responsibilities
- Risk Culture: The Ultimate Control
- Red Flags and Suspicious Activities in Payments
- Flagging Suspicious Activity
- The Escalation & Reporting Pathway
- What happens when we get it wrong?
- Case Study: M‑Mola Fined for AML/CFT Failures
- Knowledge Check 6 - Obligations
Quiz
1 Quiz
- Final Quiz
