Financial Action Task Force (FATF) Recommendations

• Basic understanding of how financial systems and institutions operate
• Familiarity with basic legal and regulatory concepts related to finance, compliance, and anti-money laundering (AML)

Audience

• Compliance officers
• Legal professionals

The Financial Action Task Force (FATF) Recommendations are a set of international standards aimed at combating money laundering, terrorist financing, and other related threats to the integrity of the international financial system.

This instructor-led, live training (online or onsite) is aimed at intermediate-level legal professionals who wish to gain a comprehensive understanding of FATF recommendations, with a balanced mix of theoretical knowledge and practical applications.

By the end of this training, participants will be able to:

• Understand the history, purpose, and structure of FATF and its recommendations.
• Identify and explain the key concepts of money laundering and terrorist financing.
• Analyze and interpret the 40 FATF recommendations and their implications.
• Develop and implement effective compliance programs and risk assessments.
• Navigate the challenges of international cooperation and compliance monitoring.

Format of the Course

• Interactive lecture and discussion.
• Lots of exercises and practice.
• Hands-on implementation in a live-lab environment.

Course Customization Options

• To request a customized training for this course, please contact us to arrange.

Introduction

Overview of FATF

• Introduction to FATF: history and purpose
• FATF membership and governance
• Key objectives and functions of FATF

Understanding Money Laundering and Terrorist Financing

• Definitions and concepts
• Typologies and techniques
• Case studies and real-world examples

The 40 FATF Recommendations

• Introduction to the 40 recommendations
• Structure and organization of the recommendations
• Importance and impact on global financial systems

Legal Systems and Operational Issues

• Recommendations 1-4: risk-based approach, national cooperation, and international cooperation
• Recommendations 5-8: criminalization, preventive measures, and non-profit organizations
• Recommendations 9-12: financial institutions and non-financial businesses and professions

Preventive Measures

• Recommendations 13-16: customer due diligence, record keeping, and reporting
• Recommendations 17-21: reliance, internal controls, and foreign branches and subsidiaries
• Recommendations 22-23: designated non-financial businesses and professions (DNFBPs)

Transparency and Beneficial Ownership

• Recommendations 24-25: transparency and beneficial ownership of legal persons and arrangements

Powers and Responsibilities of Competent Authorities

• Recommendations 26-29: regulation and supervision
• Recommendations 30-32: law enforcement and investigations

International Standards and Cooperation

• Recommendations 33-35: mutual legal assistance and extradition
• Recommendations 36-40: international instruments, cooperation, and other measures

Implementation and Compliance

• National risk assessment and compliance
• FATF evaluation and monitoring processes
• Case studies of implementation and challenges

Practical Workshop

• Developing compliance programs
• Conducting risk assessments

Summary and Next Steps