FBAA Anti-Money Laundering and Counter-Terrorism Financing

Requirement for new FBAA membership

Welcome to the Finance Brokers Association of Australia’s Anti-Money Laundering and Counter-Terrorism Financing-learning course including AML3.

This training program is designed to provide you with an overview of anti-money laundering and countering of the financing of terrorism. The “Anti-Money Laundering” sections describe the legal obligations of financial institutions and other regulated entities to prevent or report money laundering activities. The Counter-Terrorism Financing sections describe the legal obligations of financial institutions, other regulated entities and residents of Australia to prevent, report and interdict the financing of terrorists, terrorist organisations and terrorism events.

FBAA 101 – Introduction to Anti Money Laundering and Counter Terrorism Financing
Learning Outcomes

Define money laundering
Define the three stages of money laundering
Identify the principle sources of money laundering
Discuss why criminals launder money
Describe the effect of money laundering on our society, including the impact of the financing of terrorism
Identify and act upon typical high risk customers
Identify and act upon suspect transactions
Assist in the prevention of money laundering and terrorist financing.

FBAA 102 – Anti-Money Laundering and Counter-Terrorism Financing for Finance Brokers
Learning Outcomes

Identify the relevant laws and rules relating to Anti-Money Laundering and Counter-Terrorism Financing
Explain, in general terms, the obligations that result from those laws and the procedures that businesses must put in place to comply with them
Conduct an identification and verification procedure for a variety of customer types including individuals and trusts
Be aware of the need to report suspicious matters
Identify record-keeping requirements
Describe, in general terms, the offences under relevant laws

Upon successful completion of the multiple choice assessments associated with each module your certificate of completion will be available within your AAMC Members Area, and your training records will be updated with your CPD Points.