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Curriculum

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The overview of the 3 online learning modules of the AML Risk Management Program Sponsored by UBS is as follows:

  • Module A: AML/CFT Essentials (1 CPD Hour)
    IBF Programme Code: P171129DDG​

    This module assumes that participants already have a rudimentary understanding of the concept of money laundering and terrorist financing. It moves beyond the pure basics of what AML/CFT is to encompass the essential fundamentals of AML/CFT that every practitioner must be equipped with, to adequately service high net worth clients.

    Participants will gain a general understanding of AML laws and regulations, the various types of money laundering offences, the general AML framework, as well as recent developments in relation to tax and automatic exchange of information. Incorporating examples of recent real-life cases, there will be learning checkpoints at regular intervals throughout the module where participants will be able to validate their understanding by applying relevant laws, regulations and compliance standards to situations commonly found in wealth management.

    This module is accredited to the IBF Standards Level 2/3; Industry Segment: Wealth Management; Job Specialisation: Relationship Management – Private Banking; Competency Unit 2: Laws and Regulations.

  • Module B: Customer Due Diligence - What is Enough? (1 CPD Hour)
    IBF Programme Code: P170922UTF

    This module explores the compliance requirements of acceptance checks and onboarding of high net worth clients. Participants will learn about the various types of account structures prevalent in the wealth management sector, the customer due diligence processes necessary to on-board these different account types, as well as money laundering risks that relate to accounts managed by external managers.

    Incorporating examples of recent real-life cases, there will be learning checkpoints at regular intervals throughout the module where participants will be required to assess the adequacy of commonly applied measures used in client on-boarding for compliance with regulatory requirements, as well as identify good practices to enhance stakeholder engagement in the client acceptance process.

    This module is accredited to the IBF Standards Level 2/3; Industry Segment: Wealth Management; Job Specialisation: Relationship Management – Private Banking; Competency Unit 4: Client Acceptance and On-boarding (KYC/AML).

  • Module C: Learning Points from Recent AML Incidents (1 CPD Hour)
    IBF Programme Code: P171129DDG

    Delving deeper into compliance and AML topics, this module explores common/emerging themes in AML/CFT in wealth management as they relate to securities markets misconduct, foreign exchange controls, local and foreign sanctions, and tax evasion. Participants will study predicate offences from the Securities & Futures Act, such as false trading, market rigging, insider trading, etc.

    All practitioners within the wealth management industry, whether operating in the first, second or third lines of defence, would benefit from the lessons from studies of recent money laundering debacles incorporated in this module and learn to appreciate the importance of compliance with AML Laws & Regulations.

    This module is accredited to the IBF Standards Level 2/3; Industry Segment: Wealth Management; Job Specialisation: Relationship Management – Private Banking; Competency Unit 2: Laws and Regulations.
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