Sanctions are regarded as an integral part of the global fight against rising financial crimes including money laundering, terrorist financing, etc. It is a preventive measure implemented by the government and international bodies by prohibiting illicit activities with an aim to protect international law, and national security interests or defend international peace and security. They are either political or economic in nature. These particularly restrict the individual from trade or business in certain sectors. The financial institutions must merge the economic sanction search which is regarded as a part of risk based approach to money laundering.

Sanctions in AML are designed to penalize the illegal activities, financial crimes, terrorist financing etc.

What is the importance of Sanction Screening?

Sanction screening is regarded as a technique which is the combination of policies, procedures and technologies that enable the financial industry to not provide any form of services to the sanctioned parties. Sanction screening can be complex and challenging. There are a lot of cases where the sanction screening would act in the negative way. Sanction screening can generate false positive, false negative.

So it is essential for every financial institution which implements a solution that delivers a satisfactory level of compliance.  In 2019, OFAC introduced a framework for helping the US firms to initiate and shape the economic sanctions in different countries. Sanction screening plays a major role in protecting your business from high risk individuals.

Overview of International Certification Program in AML Sanctions

Regtech Times Academy has launched the International Certification Program in AML Sanctions. This program sets a standard for professionals working in AML Sanctions. Regtech Times Academy feels very proud to offer a program to the entrants that provides knowledge as well as skill sets that are essential for the sanction professionals working in BFSI sector and also with country specific Regulators. This Certificate is recognized globally.

This Certification course offers an exhaustive set of resources for the students. It comprises a Live Training Session where the aspirants would get the knowledge of sanctions in AML. It offers exhaustive content to the risk compliance team.

Syllabus of International Certification Program in AML Sanctions

The term “sanction” is defined as an official order or threatened penalty for disobeying the international laws. The primary objective of imposing sanctions is to maintain international peace and security. Sanction screening helps the countries to detect financial crimes. The International Certification Program in AML Sanctions syllabus is vast and exhaustive. Altogether there are 6 modules that cover all the aspects of the AML Sanction process.

International Certification Program in AML Sanctions would provide the aspirants with a detailed overview of AML Sanctions concepts as well as gain in-depth knowledge of the AML Sanctions process. The aspirants would get a thorough understanding of Sanction screening and its different parameters, policies, and procedures, the risk-based approach involved, red flags associated with sanction screening, in-house technology implementation required, transaction monitoring for sanctioned parties overview, sources of the list of software-defined management. This is a short-term certification course that provides a live training session. The duration of the course is 4 hours. It will be conducted by Mr. Hemant Kurelli, Certified Anti Money Laundering Expert.

Why this certification program?

This certification program is best suited for professionals working in the domains of Sanction Compliance, AML/CTF, AML Sanctions, Regulatory Compliance, Risk Management, Law firms and Country specific Regulators.

One would get a greater awareness of industry practices, problems, and solutions in this area. This certification program has a practical focus and is open to anyone who is interested in understanding the overall sanctions procedure.

Learning Outcome

Regtech Times sets out with the mission to set an international standard for testing the knowledge of those entrusted in the Anti-Money Laundering and compliance domain. This certification program would benefit the aspirants to understand sanctions, know the different reasons related to sanctions, and understand how the sanctions list and sanction screening take place. The aspirants how the sanction governance framework takes place.

Aspirants will get the Certification of Completion post 4 hours of training sessions.