Anti-Money Laundering & Counter Terrorism
With significant challenges faced by financial services firms to monitor and detect suspicious and illegal transactions over recent times, including a major Australian bank that failed to disclose suspicious transactions, a great deal of focus is now being placed on the appropriate conduct of accountants and financial advisors, with the Government now focusing on appropriate Anti-Money Laundering training, ensuring a strong and confident financial system operates in Australia.
This course provides the government mandated minimum education requirements for AML and CTF for individuals undertaking customer due diligence, reporting and record keeping.
The course aims to address the needs of accountants and financial planners in roles where a requirement exists to comply with anti-money laundering and counter terrorism financing regulatory obligations. This course meets both the Australian Qualifications Framework competency requirements in relation to the AML/CTF Act, which aligns Australia with international best practice to prevent money laundering and terrorism financing.
This course is a mandatory requirement for all individuals who use, maintain and disseminate highly specialised information relating to AML and CTF as well as individuals responsible for ensuring related compliance and quality standards. The course delivers individuals the knowledge and skills required to adhere to obligations under the anti-money laundering and counter terrorism financing (AML/CTF) Act, including:
- 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
Industry Endorsed and Trusted
The Anti-Money Laundering and Counter Terrorism Financing Skill Set (FNSSS00010) course is a nationally recognised accredited qualification.
This is an open entry course with no prerequisite qualifications. In order for participants to successfully complete this course, it is recommended they have strong literacy and numeracy skills.
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 the anti-money laundering and counter terrorism financing (AML/CTF) Act.
Successful completion of this course qualifies students to work in roles where mandatory reporting of Anti-Money Laundering and Counter Terrorism activities is required. The course is part of the Financing Skill Set (FNSSS00010) nationally endorsed units of competency.
We have designed our assessment activities in line with best practice standards to help you deliver quality advice outcomes to your clients.
There are two forms of assessment:
- Multiple choice knowledge test Assessment
- Tasks based on the practical application of concepts learned.
Units of Competency
- FNSFMK505 Comply with financial services regulation and industry codes of practice
- FNSINC502 Assess financial products and services vulnerability to money laundering and terrorism financing
- FNSRSK502 Assess risks
The course costs $530 online, or if you prefer, you can pay as you go.
Study online at your own pace, giving you the flexibility to achieve a nationally recognised qualification whilst also fulfilling your other commitments.
Unlimited e-mail and phone support is provided by Mentor Education's experienced student support team between Monday to Friday, 9am – 5pm, so you’re never left to feel ‘lost’ or stuck during your studies.