AML/CFT” Training for Financial Institutions (TGS-2023022340)

Waystone Compliance Solutions provides specialist services to clients in the asset management and finance industry. As a truly global partner, we work with clients to align investment strategies and operational processes with the ever-shifting regulatory environment.

Waystone Compliance Solutions

Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CFT”) Training for Financial Institutions (TGS-2023022340)

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This course is recognised by the Institute of Banking and Finance (“IBF”) and eligible individuals will be able to pay subsidized fees for our training course. Money laundering and terrorism financing continues to pose a major risk to the financial institutions and the financial market as a whole. Across the globe, financial institutions are faced with an evolving and threatening landscape. Complex challenges, developments in technology and increased digitalization of services, surge of regulatory pressure and increasing amount of data are accentuating the need for financial institutions to implement effective AML/CFT compliance framework.This programme seeks to equip learners with current knowledge of developments and trends in the AML/CFT space in Singapore, provide an introduction to understanding the basics of AML/CFT and steps to take to reduce AML/CFT risks within organisations.

Course Objective:On completing this course, learners would be able to:<ul><li>Define money laundering and terrorism financing, recognise key stages and common techniques used by money launders</li><li>Understand purposes and methods of money laundering and terrorism financing activities </li><li>Understand money laundering / terrorism financing risks faced by companies </li><li>Understand minimum MAS requirements for regulated companies pertaining to AML/CFT </li><li>General understanding of conducting due diligence checks, AML screenings and risk assessments for customers </li><li>Understand suspicious transactions reporting requirements </li></ul>

Who Should Attend:All officers and employees of financial institutions in Singapore such as:<ul><li>Board of directors and senior management </li><li>Compliance officers and managers</li><li>Personnel involved in customer onboarding, investor relations and customer facing including client services management teams</li><li>All other employees</li></ul>

Course Outline:In general, the course will cover the following topics:<ul><li>What is Money Laundering </li><li>Money Laundering Process and Techniques</li><li>Singapore Laws and International Standards</li><li>Stages of Money Laundering</li><li>Understanding AML/CFT risks in organisations </li><li>Who is responsible for AML/CFT </li><li>Key overview of regulatory provisions including offences and penalties</li><li>Enterprise-wide Risk Assessment</li><li>Customer Due Diligence </li><li>On-going monitoring (“OGM”)</li><li>Suspicious Transactions Monitoring and Reporting</li><li>Record-Keeping</li><li>Training </li></ul>

Course Duration: The course is expected to run for 90 minutes.Course Structure: Main course with case studies – 60 minutesAssessment to be completed in participants own time within 5 business days after the training session. Assessment takes around 30 minutes to complete.Assessment and Certificate:Certificate of 1.5 hours of core CPD hours under both Securities and Futures Act (“SFA”) as well as Financial Advisers Act (“FAA”) will be provided to those who complete the course and pass the assessment.Passing mark for the quiz is 12 out of 15 MCQ questions.'Assessment to be completed in participants own time within 5 business days after the training session. Participants will be able to have 2 tries to pass the assessment. Assessment takes around 30 minutes to complete.Trainer Profile: <a href="https://compliance.waystone.com/people/nithi-genesan/" title="https://compliance.waystone.com/people/nithi-genesan/" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">Trainer Profile</a>Please drop us an email at compliancewcss@waystone.com for any queries/clarifications.Cost Per Participant:<ul><li>SGD 197.50 (incl. GST) * – (Singapore Citizens and PR) excludes 30% of the fees which may be subsidised by IBF, subject to fulfilment of eligibility criteria, OR</li><li>SGD 97.50 (incl. GST) * – (Singapore Citizens aged 40 years old and above will be eligible) excludes 70% of the fees which may be subsidised by IBF, subject to fulfilment of eligibility criteria; OR</li><li>SGD 272.50 (incl. GST) - Full course fee without IBF subsidy.</li></ul>Please ensure you have checked that you meet the criteria for this IBF subsidy ticket, as we have a no refund policy. You may contact us at <a href="" title="" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">compliancewcss@waystone.com</a> for any queries or clarifications.Mode of Delivery:E-Learning – Live Webinar, (link to be sent to participants closer to training date upon successful registration).Training slides will be shared after the training session.

IBF Subsidy:Eligible individuals will be able to pay subsidized fees for our training course. Please refer to <a href="https://www.ibf.org.sg/home/for-individuals/skills-and-jobs-development/training-support/IBF-FTS" title="https://www.ibf.org.sg/programmes/Pages/IBF-FTS.aspx" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">IBF’s Financial Training Scheme</a> for more details.The following criteria must be met by eligible individuals:<ul><li>Company-sponsored individuals (where company sponsors refer to financial institutions regulated by Monetary Authority of Singapore);</li><li>Singapore citizens or Singapore Permanent Residents physically based in Singapore; and</li><li>Successful completion of the financial training scheme recognised programme (i.e. completion of our course and passing assessment).</li><li>For Company-sponsored individuals, the company must be the same employer distributing CPF for you.</li><li>You must be employed by the company during the training period.</li></ul>Participants who would like to enjoy IBF subsidized fee, please note that Waystone Compliance Solutions (Singapore) Pte Ltd. would require a copy of your NRIC / Singapore passport for verification of eligibility.Waystone Compliance Solutions (Singapore) Pte Ltd. would require participants who are eligible for IBF subsided fee to pay the reduced fees upon registration. After successful registration Waystone Compliance Solutions (Singapore) Pte Ltd. will contact you via email and/or call to verify your eligibility and obtain necessary documents. If participants do not meet the eligibility criteria set out by IBF, participants would be required to pay full course fees in order to take part in the training course. Refund will not be provided on any amount of course fees paid. Waystone Singapore will apply for reimbursement directly from IBF Singapore (where applicable).Please note that Waystone Compliance Solutions (Singapore) Pte Ltd. complies with Singapore’s Personal Data Protection Act requirements.Please refer <a href="https://www.ibf.org.sg/programmes/Pages/Claims-Submission.aspx" title="https://www.ibf.org.sg/programmes/Pages/Claims-Submission.aspx" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">here</a> for more information on claims submission procedures. Funding support for the same course will be granted only once per calendar year per participant.

Who is Waystone<a href="http://www.waystone.com/" title="http://www.waystone.com/" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">Waystone</a> is a leading global provider of institutional governance, administration, risk, and compliance services to the asset management and financial services industry. Our global Compliance Solutions team helps clients navigate the regulatory landscape with confidence, aligning investment strategies and operational processes with compliance requirements. With over 100 compliance specialists based across Asia, the Middle East, Europe, and North America, we offer a comprehensive range of solutions, from company registration and licensing to compliance programmes and ongoing support.In Singapore, Waystone brings over 20 years of experience, working with clients regulated by the Monetary Authority of Singapore (MAS). We can assist your firm in the following ways, though not limited to:<ul><li>Monetary Authority of Singapore and Securities and Futures Commission (SFC) licensing and registration</li><li>Outsourced compliance support</li><li>Policy drafting support</li><li>Compliance audits and mock inspections</li><li>Anti-Money Laundering and Know Your Client support</li><li>Vendor and employee due diligence services</li><li>Compliance trainings</li></ul>If you have questions about this training course or would like to find out more about our <a href="https://compliance.waystone.com/services/apac-solutions/aml-and-kyc/" title="https://compliance.waystone.com/services/apac-solutions/aml-and-kyc/" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">AML Solutions</a> or other compliance services, please reach out to our <a href="https://compliance.waystone.com/services/apac-solutions/#submenu-apac-solutions" title="https://compliance.waystone.com/services/apac-solutions/#submenu-apac-solutions" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">APAC Compliance Solutions</a> team or contact us <a href="https://compliance.waystone.com/contact-us/" title="https://compliance.waystone.com/contact-us/" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">here</a>.

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Terms and Policies:<ul><li><a href="https://compliance.waystone.com/wp-content/uploads/2024/02/Course-Fees-Refund-Policy_WCSS_2024.pdf" title="https://compliance.waystone.com/wp-content/uploads/2024/02/Course-Fees-Refund-Policy_WCSS_2024.pdf" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">Waystone Compliance Solutions (Singapore) Pte Ltd. - Course Fees Refund Policy</a></li><li><a href="https://compliance.waystone.com/wp-content/uploads/2024/02/Complaints-and-Appeals-Policy_WCSS_2024.pdf" title="https://compliance.waystone.com/wp-content/uploads/2024/02/Complaints-and-Appeals-Policy_WCSS_2024.pdf" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">Waystone Compliance Solutions (Singapore) Pte Ltd. - Complaints and Appeals Policy</a></li><li><a href="https://compliance.waystone.com/wp-content/uploads/2024/02/Privacy-and-Personal-Data-Protection_WCSS_2024.pdf" title="https://compliance.waystone.com/wp-content/uploads/2024/02/Privacy-and-Personal-Data-Protection_WCSS_2024.pdf" target="_blank" data-msys-clicktrack="0" rel="nofollow noopener noreferrer">Waystone Compliance Solutions (Singapore) Pte Ltd. - Privacy and Personal Data Protection Policy</a></li></ul>

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