Today's modern financial services professionals are faced with significant challenges to both monitor and detect suspicious and illegal transactions. The Anti-Money Laundering and Counter Terrorism Financing Skill Set (FNSSS00010) delivered by Mentor Education has been developed to cater to the needs of individuals undertaking customer due diligence, reporting and record keeping.
For any individual who uses, maintains or disseminates highly specialised information, the Anti-Money Laundering and Counter Terrorism Financing skill set is invaluable and the course aligns with a financial services professionals’ requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
You will learn about:
- How to assess financial products
- Compliance with legislation.
- The AML/CTF Act risk-based approach to regulation.
- The minimum obligations set out in the AML/CTF Act and AML/CTF Rules.
- Risk management and how to assess the risks of potential money laundering or terrorism financing when providing a designated service to a customer.
- Obligations for business and individuals including 'know your customer', transaction monitoring and ongoing customer due diligence.
You will complete studies covering the following units of competency:
- FNSFMK505 Comply with financial services legislation and industry codes of practice
- FNSINC502 Assess financial products and services vulnerability to money laundering and terrorism financing
- FNSRSK502 Assess risks
The Anti-Money Laundering and Counter Terrorism Financing Skill Set (FNSSS00010) aims to address the needs of individuals in roles where a requirement exists to comply with anti-money laundering and counter terrorism financing regulatory obligations. This skill set meets the competency requirements of a nationally recognised Skill Set as outlined in the Financial Services (FNS) training package, and aligns with a financial services professionals’ requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
With significant challenges faced by financial services firms to monitor and detect suspicious and illegal transactions, this course provides the government mandated minimum education requirements for Anti-Money Laundering and Counter Terrorism Financing for individuals undertaking customer due diligence, reporting and record keeping. This Skill Set caters to all individuals who use, maintain and disseminate highly specialised information relating to Anti-Money Laundering and Counter Terrorism Financing as well as individuals responsible for ensuring related compliance and quality standards.
- Compliance knowledge associated with finance industry regulations and industry codes of practice on an organisational level
- Ability to assess financial products and services for risks and vulnerabilities to money laundering and terrorism financing
- Identify and alleviate money laundering and terrorism financing
Skill Set entry requirements
This is an open entry course with no pre-requisite qualifications. In order for participants to successfully complete this course, it is recommended they have a strong literacy and numeracy skills.
Industry Endorsed and Trusted
The Anti-Money Laundering and Counter Terrorism Financing Skill Set (FNSSS00010) is a nationally recognised accredited Skill set.
Who Should Enrol?
The Anti-Money Laundering and Counter Terrorism Financing Skill Set is suitable for any individual who is employed in a role where customer due diligence, reporting and record keeping is required to comply to service provision obligations under Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
- Comply with financial services regulation and industry codes of practice
- Assess financial products and services vulnerability to money laundering and terrorism financing
- Assess risks
We have designed our assessment activities in line with best practice standards to help you deliver quality advice outcomes to your clients.
Assessment tasks may be a combination of:
- Multiple choice questions
- Short answer questions
- Case study and scenario responses
- Projects, Portfolio
- Role Plays
- Practical Demonstration
- Journal and Self-reflection exercises
FLEXIBLE DELIVERY OPTIONS: NATION-WIDE
Mentor Education specialises in providing professional education and training services to you anywhere, any-time. We appreciate that learning needs differ for each individual and organisation, which is why we allow you to select the approach that works best for you.
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Terms and Conditions
*Offer only for online study and requires full upfront payment. No payment plans available. No discounts available for workshops. To be eligible for the discount, you will need to have fully paid for your course enrolment before 30 June 2018, 4pm AEST. Cannot be used in conjunction with other offers/existing quotes or applied to past enrolments. Discount is based on recommended retail price listed on the Mentor Education website as at 15 May 2018. Students will be able to commence studies within 14 days of completing enrolment application and payment. Excludes all workshops; online study only. Restricted to the first 200 student enrolments. Offer ends 30 June 2018, 4pm AEST or after 200 student enrolments.
**We do not offer any financial advice, nor should any information on this page be classified as financial advice in relation to eligibility of self-education expenses and taxation. Visit the ATO website or speak to your accountant for further information.