AML/CFT Fundamentals

This program portfolio covers the regulatory foundations of Anti-Money Laundering (AML), progressing to advanced programs in financial technology (FinTech), digital assets, international sanctions, and the real estate sector. It also includes preparation for the internationally recognized AML/CFT professional certification.

Program Overview

A foundational program designed to equip professionals in the banking and financial services sector with a comprehensive understanding of the Saudi and international Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) regulatory framework. Participants will learn how to implement Customer Due Diligence (CDD) and Know Your Customer (KYC) procedures, apply risk-based compliance measures, and prepare Suspicious Activity Reports (SARs) in accordance with the standards of the Financial Action Task Force (FATF) and the requirements of the Saudi Central Bank (SAMA).

Duration: 2 Days
Training Hours: 12 Training Hours
Target Audience: Banking and financial institution employees, compliance officers, and professionals newly assigned to AML/CFT functions.
Delivery Mode: In-person / Live Online

Detailed Learning Objectives

By the end of the program, participants will be able to:

• Understand and apply the Saudi Anti-Money Laundering Law and the international AML/CFT framework, including the FATF 40 Recommendations.
• Implement Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures using a risk-based approach.
• Classify customers and high-risk transactions through a Risk-Based Approach (RBA) supported by risk indicators and evidence.
• Prepare accurate and timely Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs) in compliance with applicable regulatory requirements.
• Identify suspicious financial activities using recognized money laundering typologies, red flags, and transaction monitoring techniques.

Key Topics

• Saudi AML/CFT Regulatory Framework: The Saudi Anti-Money Laundering Law, its Implementing Regulations, and the roles of the Saudi Central Bank (SAMA), the Zakat, Tax and Customs Authority (ZATCA), and the Saudi Financial Intelligence Unit (SAFIU).
• The FATF 40 Recommendations: International AML/CFT standards and their implementation within Saudi financial institutions.
• Risk-Based Approach (RBA): Customer, transaction, and country risk assessment methodologies and risk classification models.
• KYC, CDD, and EDD Procedures: Customer identification and verification, beneficial ownership (UBO) identification, and enhanced due diligence requirements.
• SAR/STR Reporting: Regulatory reporting requirements, reporting channels, and submission procedures through the Saudi Financial Intelligence Unit (SAFIU).