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Advanced Credential In Anti-Money Laundering & Counter-Financing Of Terrorism
  • Overview
  • Training Methodology
  • Programme Outline
  • Participant Profile
  • Lecturers
  • Overview

    DATE

    Intake : 
    Course 1: 22-23 May and 16-17 Oct, 2021
    Course 2: 29-30 May and 23-24 Oct, 2021


    Registration deadline : 
    09 April for workshop : 22-23 May and 29-30 May, 2021

    10 September for workshop : 16-17 Oct, 2021 and 23-24 Oct, 2021


    The Advanced Credential in Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) programme is a collaboration between the Asian Banking School and Bond University, Australia. It was designed by leading senior academics of the Faculty of Law at Bond with the principal objective of providing a comprehensive introduction to the principles, processes, law and practice of AML/CFT in Malaysia and internationally.

    The overall programme offers two courses, each consisting of five online modules and a 2-day face-to-face intensive workshop. The online modules provide the practical, theoretical and doctrinal foundations for the course, while the workshop focuses upon practical application and discussion. The entire programme (including the two-day workshops and the online instruction) can be completed within 6 months (although some learners may wish to take a longer time to complete).
    PROGRAMME FEE

    COURSE 1

    MYR

    7,000

    COURSE 2

    MYR

    7,000

    COURSES 1 & 2

    MYR

    13,000

    (Fee shown is per participant and subject to 6% Service Tax)



    In collaboration with:

  • Training Methodology

    Participants can complete the ten online modules at their own pace. They are supported while completing the modules with access to instructors who respond to questions and provide assistance with content. The online modules are hosted on the Bond University Learner Portal: bond.edu.au/microcredentials. Each 2-day intensive workshop will be delivered face-to-face at ABS by Bond’s Honorary Adjunct Professor Dr Lee Mei Pheng, supported by various guest presenters.

    Upon completion of each course (5 modules + 1 workshop), each learner will receive a Certificate of Achievement. Upon satisfactory completion of all 10 online modules and 2 intensive workshops, each participant will receive an Advanced Credential in Anti-Money Laundering and Counter-Financing of Terrorism, jointly awarded by Bond and ABS. In addition, successful participants will be granted permission by ABS to use the credential ‘AC (AML/CFT)’ and may be eligible for 20cp credit towards Bond’s Master of Legal Administration or other postgraduate programmes.

    Module structure
    Each online module will include the following resources:
    • A welcome video
    • 2 to 7 sub-modules
    • An online forum

    Each module will conclude with a summative assessment task, e.g. an online exercise.

    Welcome video
    Each of the online modules will begin with a brief video that will present an overview of the module.

    Sub-modules
    Each online module will consist of 2 to 7 sub-modules of content. Each sub-module will include:
    • An introduction setting out an overview of the sub-module
    • Content including, where appropriate, diagrams, flowcharts and images
    • Instructional videos
    • A summary
    • A list of high level revision questions

    Online forum
    Each module will include an online forum for interaction between instructors and students. It will be either asynchronous (e.g. a discussion board or wiki) or synchronous (e.g. scheduled online classes or consultations).

    Assessment
    1. Successfully obtain 80% marks in the online modules (30% of total assessment)
    2. Classroom participation (10% of total assessment)
    3. Assignment (3000-4000 words) of acceptable professional quality to publish in ABS AML/CFT newsletter (60% of total assessment)

    Prescribed textbook
    There is no prescribed textbook. Resources will be recommended during the learning period and these include references to books, case reports, articles, journals, papers, website links, videos, professional newsletters, etc.)

  • Programme Outline
    Course 1 - International AML / CFT Compliance and Practice
    MODULE 1 : MEETING GLOBAL STANDARDS AND REQUIREMENTS
    Role of international regulators in global AML/CFT compliance (including FATF, OECD, and other international standard setters). Importance of meeting international standards and requirements.

    MODULE 2 : CORPORATE GOVERNANCE AND ETHICS
    Corporate governance and ethics. The importance of corporate governance in establishing effective systems and controls. Apportionment of significant responsibilities. Business plan and strategy. Conflicts of interest. Remuneration structure and strategies. Suitability of staff and agents.

    MODULE 3 : COMPLIANCE, RISK MANAGEMENT AND AUDIT
    Compliance. Risk management. Internal audit. Business continuity planning. Record keeping. Setting the “tone from the top”.

    MODULE 4 : COMPLIANCE MONITORING PROGRAMS AND COMMUNICATION
    The compliance monitoring programme. Scope of programme. Compliance testing. The CMP Report. Other considerations including training & education, internal communication and responding to breaches. Communicating essential compliance issues.

    MODULE 5 : BEST PRACTICES ON INTERNAL CONTROL STRUCTURES
    International approaches and best practices. Regulators’ expectations and requirements. Avoiding conflicts of interest. Anti-bribery and corruption. International standards on building effective control structures.

    2-DAY WORKSHOP INTERNATIONAL AML/CFT COMPLIANCE AND PRACTICE IN MALAYSIA
    Meeting global standards and requirements: how Malaysia has fared so far, strengths, shortcomings and improvements. Corporate governance and ethics as applied in Malaysia and its financial services sectors. International standards and practices regarding compliance, risk management and audit as applied in Malaysia: a critical analysis. Compliance monitoring and communication issues in the Malaysian context. The practical application of best practices on internal control structures in Malaysia.

    Course 2 - International AML / CFT Management and Implementation
    MODULE 1 : INTERNATIONAL CASES OF AML/CFT NON-COMPLIANCE
    International cases. Legal and regulatory responses, penalties. Avoiding fines, sanctions and reputational damage.

    MODULE 2 : CRITICAL ANALYSIS OF INTERNATIONAL CASES OF AML/CFT NON-COMPLIANCE AND RECENT GLOBAL DEVELOPMENTS
    What went wrong? Actions taken. Lessons learnt. Critical analysis of recent global developments. Responses and actions taken.

    MODULE 3 : DEVELOPING A WORLD-CLASS COMPLIANCE FUNCTION
    Achieving full compliance: developing systems and controls. Taking the risk-based approach (RBA). The compliance function. Developing an ethical and compliance culture.

    MODULE 4 : KEY ATTRIBUTES OF THE GLOBAL COMPLIANCE OFFICER
    The Compliance Officer operating globally. Advising, training/educating and monitoring skills. Compliance manuals and documentation. Influencing and negotiation skills. Communication skills. Essential compliance issues. Communicating management information. Board and committee meetings and agenda.

    MODULE 5 : MEETING THE EXPECTATIONS AND REQUIREMENTS OF REGULATORS
    Complying with the relevant regulatory requirements on AML/CFT including CDD and ECDD. Internal and external Suspicious Activity Reporting. Communicating with the regulator. Keeping up to date with changes in the regulatory environment. International cooperation.

    2-DAY WORKSHOP INTERNATIONAL AML/CFT MANAGEMENT AND IMPLEMENTATION IN MALAYSIA
    In-depth study and analysis of selected significant cases of AML/CFT non-compliance and the aftermath. Examples of compliance cases:best practices being practised. Recent global AML/CFT developments, including coping with the Covid-19 pandemic. Developing a world-class compliance function operating in Malaysia. The global Compliance Officer operating in Malaysia. Meeting the expectations and requirements of regulators in Malaysia: domestic and foreign institutions.

  • Participant Profile
    Head of Compliance, AML/CFT, Regulatory Compliance and Financial Crime; Managers and senior staff of Risk Management, Audit (Internal and External); Senior Managers and Heads of other Reporting Institutions, Designated Non-Financial Businesses and Professions (DNFBPs) and Non-Bank Financial Institutions (NBFIs); Company Secretaries, Accountants, Digital Currencies and Fintech Developers/Operators, professionals of the legal fraternity and CAMCO graduates.

  • Lecturers

    Professor Dr Lee Mei Pheng

    Honorary Adjunct Professor, Faculty of Law, Bond University, Queensland, Australia

    Dr Lee is presently a senior partner, banking law consultant and practitioner at Detta Samen & Co Advocates, one of the most established law firms in Sarawak. She is an Advocate and Solicitor of the High Court in Malaya and an Advocate of the High Court in Sabah and Sarawak. Besides her continuing law practice, she is a Fellow of the Law Faculty, University of Malaya in Kuala Lumpur and had served at OCBC Bank in Malaysia as Head of their Legal department and Assistant Vice President, Kuching Branch in Sarawak for ten years. Since 1984, she has been a leading consultant and lecturer for banks and financial institutions, regulators, large corporations locally and internationally in many areas of banking and finance laws, Islamic banking and finance law, fraud, anti-money laundering and anti-terrorism financing, banking operations, credit, offshore banking, regulations and compliance. She lectures internationally and is a Course Director for EUROMONEY Training in Hong Kong. Dr Lee holds a Doctor of Philosophy (Laws) from the University of Liverpool, England, specialising in Banking and Finance Law, and her PHD research was on banking fraud. She holds an LLB First Class Honours degree from the University of Malaya, and since the year 2000, has been an Adjunct Associate Professor, Faculty of Law at the Bond University, Queensland, Australia. She resides in the Gold Coast in Australia and lectures post-graduate law subjects in that country on various areas of International Banking and Electronic Banking Law subjects. She is a Fellow of the Financial Services Institute of Australasia and Tim Fischer Centre for Global Trade & Finance, as well as a Member of the Law Advisory Board, Bond University, Australia. She is an Associate Fellow of the Institute of Bankers, Malaysia (AICB). Her many other professional contributions include being a consultant, commissioned author and editorial reviewer, and specialist for LexisNexis, AICB and Oxford publications related to Banking Law and Practice and Banking and Finance statutes, an External Assessor for Business law and Company Law, Wawasan Open University, Penang, Malaysia and author of many publications.


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