Anti Money Laundering Compliance Services

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Anti Money Laundering (AML) Training Program

Money laundering has long plagued India, from the Commonwealth Games case to the 2G scam. When vast sums from illicit activities enter the economy, it leads to significant and prolonged market losses.


In response, the Indian government has enacted various laws to safeguard its economy. A key example is the Prevention of Money Laundering Act (PMLA), 2002, a crucial step in combating these financial crimes. Understanding such legislative measures is essential for comprehending India’s economic resilience efforts.

SYNOPSIS OF

AML Training Program

Our AML training for employees 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’.
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Prevention of Money Laundering Act

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.

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Benefits of AML Training Program

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Alert Employees

Persons who understand the concept and ways of money laundering along with the legal repercussions mentioned in the PMLA act will avoid getting involved in such activities. Moreover, they tend to act as whistleblowers in case they come across any illegal money transactions by their counterparts.

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Transparent Finances

A company with clean financial records bodes well with the authorities. It also enjoys the trust of all its stakeholders and shareholders alike. This directly translates into the company’s reputation and productivity.

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Efficient Financial Security

Through our AML training program, each of your employees will be able to contribute towards the financial security of your company. Due to constant monitoring of transactions, any illicit activity shall be duly reported and acted upon, saving the hard-earned honest money of your company.

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Compliance with AML act

There are severe penalties for not complying with the AML Act. Our AML compliance training not only teachesyour employees & other stakeholders to keep an eye out for anything suspicious in the financial department but also ensures that your company is compliant with every aspect of the act.

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Catalyse Growth

Overall business standards and AML act-awareness within a business will be substantially improved by the understanding of our AML Training Program, helping increase the productivity of the workforce.

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Creates Awareness

Our AML online training modules will effectively communicate your company’s policies to your employees and other stakeholders.

WHY

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Complykaro's Anti Money Laundering AML Training

Want to make sure your organisation complies with the Prevention of Money Laundering Act (PMLA)? Our Anti Money Laundering Online Training Program is the right fit for you.

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    Answer to Your Questions

    What is Anti-Money Laundering (AML) compliance, and why is it important for businesses?

    Anti-Money Laundering (AML) compliance refers to the policies, procedures, and controls that businesses must implement to detect and prevent money laundering and financial crimes. It is vital for safeguarding the financial system, ensuring legal compliance, and protecting businesses from reputational and regulatory risks.

    Which organisations are required to implement AML compliance programmes in India?

    Nearly every organisation in India must have some form of AML training programme. However, the Prevention of Money Laundering Act (PMLA), 2002, makes it mandatory for organisations such as banks, financial institutions, NBFCs, payment service providers, cryptocurrency exchanges, and designated non-financial businesses to be legally required to implement AML compliance programmes for their employees.

    Does the AML training cover regulatory requirements under PMLA, 2002?

    Yes, the AML training thoroughly covers regulatory obligations under the PMLA, 2002, and related rules. It equips employees with practical knowledge on reporting suspicious transactions, verifying identities, and maintaining compliance records. Contact us today for a comprehensive AML training session.

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