Synopsis of the AML Training Program
Our AML training program is divided into two sections that include:
- Money Laundering and its stages
- Activities that are defined as money laundering.
- Identifying different methods of money laundering.
- Understanding how these methods are used to convert ‘dirty money’ into ‘clean money’.
- Prevention of Money Laundering Act (PMLA) compliance and identifying suspicious transactions.
- Definition of Money Laundering as per the PMLA act.
- Roles of various reporting entities under the act.
- Content of the required details to be communicated with the authorities.
- Various legal obligations under the PMLA act like KYC, maintaining transactional records, etc.
- Examples of ‘Suspicious Transactions’ and reporting them.