This e-learning course covers anti-money laundering and combating terrorist financing within the laws and guidelines of Jersey.
It is intended to familiarise ALL employees with the process of money laundering, the criminal business used to disguise the true origin and ownership of illegal cash and the laws that make it a crime.
“Money laundering” is the process that criminals use to disguise the true origin and ownership of cash by introducing it into legitimate enterprises. The problem is huge.
The estimated amount of money laundered is approximately 2%-5% of global GDP, or $800 billion – $2 trillion annually.
Terrorism financing refers to activities that provides financing or financial support to individual terrorists or terrorist groups. A government that maintains a list of terrorist organizations normally will also pass laws to prevent money laundering being used to finance those organizations. This prompted governments around the globe to pass laws prohibiting large cash payments or, at the least, requiring such payments to be reported. These laws created the need for criminals to conceal the true source of the money or to “launder” it.
Jersey is no exception and the financial regulator treats any attempt to launder money as extremely serious offences, resulting in penalties of up to 5 years imprisonment and unlimited fines.
There are 3 core objectives of this interactive cost effective e-learning course:
1. You gain a basic understanding as to what money laundering and terrorist financing are. We also look at the impact that these activities have on society as a whole
2. You gain an appreciation of the stakeholders, laws and guidance notes concerning anti-money laundering and combating terrorist financing in Jersey
3. We look at the potential impact that non-compliance with the laws could have on you or your organisation
This course is worth 2.0 hours CPD.
1. Money Laundering
2. Anti-Money Laundering
3. Combating Terrorist Financing
4. AML / CTF Basics
5. AML / CTF Consequences
6. AML / CTF in Jersey
7. AML and Tax Evasion
There is a 20 question knowledge check at the end of the course with a standard pass mark of 80% and unlimited attempts. The 20 questions are drawn randomly from a larger bank of questions. Each attempt will draw a different mix of questions.
All of the courses running on our platform can issue course completion certificates automatically to the users where they have obtained the learning objectives.
Where required we can provide copies to nominated Compliance and Human Resources teams.
For custom branded courses, the certificate can also be branded to your organisation.
Where requested, we also provide detailed course completion reporting to Compliance and/or Human Resources staff so that they can track the progress of users.
Reporting can be customised to your specific needs and reporting frequency. We find that clients are increasingly asking for more reporting, as they find that our reports
can help them as evidence of course completions for: