Course Description

Module Coverage

1. Basic Money Laundering / Terrorism Financing/ Proliferation Financing (ML/TF/PF) Stages 

i. Illustrate the 3 stages of Money Laundering (Placement, Layering, Integration)

ii. Illustrate the 3 stages of Terrorism Financing (Collection, Movement of Fund, Use)

iii. Illustrate the 3 stages of Proliferation Financing (Fundraising, Disguising the Fund, Procurement)

iv. Common ML/TF/PF typologies 

2. Key Anti-money Laundering, Countering the Financing of Terrorism, and Counter Proliferation Financing Laws and Regulations

i. Illustrate the key laws that criminalize ML, TF and PF: 

• Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (“CDSA”)
• Terrorism (Suppression of Financing) Act (“TSOFA”)
• United Nations Act (“UN Act”).

3. Risk Assessment 

i. Illustrate the key elements of risk assessment: 

• Risk identification covering donors/beneficiaries/partners/employees/volunteers risks, country/jurisdiction risks and product/service/transaction/delivery channel risks
• Risk categorisation into low, medium and high risks
• Risk mitigation strategies 

ii. Case study: Using a fictitious case example, illustrate how risk assessment can be performed and recorded

4. Due Diligence and Enhanced Due Diligence 

i. Cover the basic due diligence and enhanced due diligence procedures for individuals and entities

5. Ongoing Monitoring 

i. Illustrate the key elements of ongoing monitoring: 

• Review of transactions with stakeholders
• Review of donations by donors
• Review of disbursements to beneficiaries
• Periodic screening of higher risks individuals and entities

6. Suspicious Transaction Reporting 

i. Illustrate the key elements in suspicious transaction reporting: 

• Timeliness in reporting
• Escalation process
• Confidentiality of suspicious transaction reports
• Filing with Suspicious Transaction Reporting Office

ii. Case study: Illustrate the collection of monies to identifying suspicious transaction and filing with STRO 

7. Other AML/ CFT/CPF requirements 

i. Record keeping

ii. Hiring and training of staff 

iii. Audit of internal process