Elements of an anti-money laundering program

In this lesson

1. 0:00 Anti-money laundering program overview
2. 0:12 Key elements and dedicated resources
3. 0:26 Written policies and client risk assessment
4. 0:41 Escalation procedures and management support
5. 1:12 Designated ML officer and policy framework
6. 2:02 Identifying suspicious transaction patterns
7. 2:49 Comprehensive coverage and customer due diligence
8. 3:27 Suspicious activity reporting and escalation
9. 3:50 Management tone and employee training
10. 4:45 Regular review and program updates

About this lesson

We'll walk through the core components: dedicated resources and written policies, a designated money laundering professional with real authority, comprehensive coverage across the entire business, and robust client due diligence processes. You'll understand why management support from the top, regular training for relevant staff, and timely escalation of suspicious activity reports are non-negotiable, and how ongoing review and documentation ensure the program stays effective as risks evolve. This video breaks down the practical framework auditors and compliance professionals use to assess whether organisations are genuinely protecting themselves against money laundering. You'll see how each element—from knowing your client and identifying risk factors, to using technology and data analytics—works together to create a system that can detect and prevent financial crime. By the end, you'll be able to evaluate an anti-money laundering program's strength and explain why each component matters, giving you the confidence to handle these questions in your exams and apply this knowledge in real-world audit scenarios.

Duration: 5m