Certification Programme: Anti Money Laundering & Counter-Terrorist Financing (AML & CTF) - Foundation Level

In developing an international financial centre, Luxembourg became aware at a very early stage of the need to prevent the use of financial circuits for unlawful purposes. While initially designed to fight money laundering linked to drug trafficking, Luxembourg legislation today criminalises all offences recommended by the Financial Action Task Force (FATF).

Moreover, measures aiming to prevent money laundering not only apply to banks, but to all professionals in the financial sector, such as insurance companies, notaries, estate agents, auditors, casinos, lawyers, tax and financial advisers, and persons selling high-value goods.

This programme is based on FATF recommendations and the European Union’s implementation of those recommendations through directives and regulations, and should enable participants to acquire a solid foundation for preventing financial crime.

This programme is based on European standards and Luxembourg AML/CFT laws and regulations. During this course, participants will learn to:

• Understand what is Money Laundering, Terrorist Financing, Proliferation Financing (“ML”, “TF”, “PF”)

• Understand who are the actors and what are their professional obligations to prevent ML, TF, PF

• Understand who are the main stakeholders at international level 

• Gain further knowledge, by means of practical case studies

• Definitions & predicate offences: money laundering, terrorist financing, proliferation financing

• The fight to prevent ML/TF/PF: the actors involved

• The professional obligations:

  • Country level

  • Obliged entities: Financial Institutions & Designated non-financial businesses and professions (DNFBPs) & their main professional obligations to prevent ML/TF/PF

  • Risk based approach at entity level

  • Organisational requirements

  • Types of Customer due diligence

  • Targeted financial sanctions

  • Monitoring of transactions

  • Cooperation with authorities: suspicious transaction reporting

• The international bodies working on the fight against ML/TF/PF

  • FATF

  • United Nations

  • Basle committee

  • Egmont group

  • Other sectorial groups

When delivered in face to face format in the ATTF partner countries, this course has a duration of 4 days.

The participants will have their newly acquired knowledge validated through a written exam with multiple choice questions and will be granted a certificate of success issued by the House of Training.