THE BAHAMAS INSTITUTEOF FINANCIAL SERVICES

The frontline staff of any financial institution is the first line of defense for Anti-Money Laundering and Terrorist Financing. Therefore, an ill-trained frontline staff could lead to the collapse of an institution or the imposing of enforcement actions from the regulators. A strong and well-educated frontline staff will help develop a strong compliance department for your institution. 

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This introductory certificate course aims to provide practical, integrative knowledge and understanding of compliance and anti-money laundering. This course will also prepare the students to pursue the Diploma in Anti-Money Laundering and Compliance, an international designation offered in collaboration with the International Compliance Association and The Bahamas Association of Compliance Officers.

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What you will learn?

 

Understanding Money Laundering

• Drug Trafficking

• All Crimes

 

Understanding Terrorist Financing

• 9/11

 

The Bahamian Legal System

• The Tracing and Forfeiture of the Proceeds of Drug Trafficking Act 1987

• The Money Laundering (Proceeds of Crime) Act 1996

 

Anti AML & CTF Programs
Statutory Requirements:

• Identification

• Record Keeping

• Training

• Monitoring

• Reporting- MLRO’s

 

International Standards;

• FATF

• CFATF

 

IMF/World Bank-FSAP

 

Customer Due Diligence

 

Risk-Based Approach

• Simplified Due Diligence

• Enhanced Due Diligence

• Politically Exposed Persons (PEPS)

 

Court Orders

• Production Order

• Search Warrant

• Restraint Order

• Charging Order

• Confiscation Order

Compliance Systems

• The Bahamian Regulatory System

• The Regulators

• The role of the Compliance department

• The Compliance Officer

• The role of the External Auditor

• The role of the Board of Directors

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• Duration: 5 Weeks

• Days: Saturdays

• Time: 9:30 a.m. - 12:30 p.m.

• Learning Platform: Via Zoom

• Fee: $695 (members) and $795 (non-members) + Registration $50.00

• Payment Plans are available