Anti-Money Laundering and Combating Terrorism Financing

Module 1: Introduction to the Anti-Money Laundering

• The definition of Money Laundering.
• Purpose of Money Laundering
• Money Laundering stages.

Module 2: Risks of Money laundering

• Financing of Terrorism
• Legal sources of financing of terrorism
• Economic and social risks and negative impacts
• Risk to the Bank due to weak and deficient program

Module 3: Law and regulation of Money Laundering and Financing of Terrorism

• Law and regulation in KSA and GCC
• The update on Anti-Money Laundering regulations
• Risk-based approach

Module 4: Principle of Know Your Customer ( KYC )

• Who is the Customer ?
• What is the principle of Knowing your customer ?
• Advantages of (KYC)
• The essence of the elements of (KYC)
• Identity Verification requirements

Module 5: Reporting suspicious transaction

• What are the suspicious transactions?   
• Staff responsibilities
• How suspicious transactions are reported
• Update customer information and record-keeping requirement