Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) for Financial Cooperatives Training Course

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) for Financial Cooperatives Training Course

Introduction

In an era of increasing regulatory scrutiny, financial cooperatives must play a critical role in combating financial crimes, including money laundering and terrorism financing. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) for Financial Cooperatives Training Course is designed specifically for financial cooperatives to ensure compliance, mitigate risk, and strengthen internal controls. Through a practical, case-based approach, participants will gain actionable insights into regulatory requirements, risk assessment, suspicious transaction reporting, customer due diligence, and emerging threats in the digital finance ecosystem.

This industry-relevant training delivers cutting-edge knowledge and best practices aligned with global AML/CTF standards such as FATF recommendations and local regulatory frameworks. Participants will understand the importance of institutional integrity and how proactive AML/CTF measures help protect the cooperative, its members, and the wider financial system. Equipped with this knowledge, cooperatives can build more transparent, trustworthy, and legally compliant operations in today’s fast-changing financial landscape.

Course Objectives

Participants will:

1. Understand the fundamentals of AML/CTF compliance in cooperative finance.
2. Recognize typologies and red flags of money laundering and terrorism financing.
3. Implement Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) measures.
4. Comprehend regulatory and legal frameworks governing AML/CTF.
5. Develop effective Suspicious Transaction Reporting (STR) systems.
6. Conduct AML/CTF risk assessments and internal audits.
7. Understand the role of FATF, FIUs, and other global regulatory bodies.
8. Build compliance culture and accountability within cooperatives.
9. Integrate AML/CTF measures in digital banking and mobile money systems.
10. Address emerging threats and cryptocurrency laundering risks.
11. Train frontline staff for transaction monitoring and risk-based approaches.
12. Identify challenges in cross-border financial crimes and correspondent banking.
13. Prepare for regulatory inspections and audits confidently.

Target Audiences

1. Compliance Officers
2. Cooperative Board Members
3. Internal Auditors
4. Risk Management Professionals
5. Frontline Financial Service Staff
6. IT & Digital Banking Teams
7. AML Analysts and Investigators
8. Legal and Regulatory Affairs Personnel

Course Duration: 10 days

Course Modules

Module 1: Introduction to AML & CTF

• Definitions and global context
• Financial crimes and cooperative vulnerabilities
• Overview of international frameworks (FATF, Basel, EU Directives)
• Local AML/CTF legislation
• Key stakeholders and enforcement bodies
• Case Study: Cooperative fined for AML negligence

Module 2: Risk-Based Approach (RBA) for Cooperatives

• Understanding RBA principles
• Identifying and assessing risks
• Risk profiling and segmentation
• Controls and mitigation strategies
• Documentation and review
• Case Study: Implementing RBA in a rural SACCO

Module 3: Customer Due Diligence (CDD) & KYC Requirements

• Onboarding procedures
• Identity verification
• Beneficial ownership
• EDD for high-risk customers
• Ongoing monitoring
• Case Study: Detection of shell entity in cooperative records

Module 4: Suspicious Transaction Monitoring & Reporting

• Red flags and indicators
• Transaction surveillance tools
• Creating STR/SAR
• Timelines and legal obligations
• Confidentiality and safe reporting
• Case Study: Staff whistleblower identifies layered funds

Module 5: Record Keeping & Documentation Standards

• Legal retention periods
• Secure data management
• Retrieval processes for audits
• Integration with MIS
• Role of IT in compliance
• Case Study: Regulatory penalty due to poor documentation

Module 6: Roles & Responsibilities of AML Officers

• Core functions
• Reporting lines
• Skills and qualifications
• Independence and authority
• Performance metrics
• Case Study: Success story of proactive AML officer intervention

Module 7: FATF Recommendations and Regional Regulations

• Overview of 40 FATF Recommendations
• Mutual evaluations and follow-up
• African regional frameworks (ESAAMLG, GIABA)
• Compliance scoring and consequences
• Cooperative obligations
• Case Study: FATF greylisting impact on local cooperatives

Module 8: Internal Controls & Audit Framework

• Developing AML/CTF policies
• Control design and effectiveness testing
• AML/CTF audits and reviews
• Reporting audit findings
• Continuous improvement
• Case Study: Internal audit uncovering systemic gaps

Module 9: Role of Technology in AML/CTF

• AML software and automation
• Transaction monitoring systems
• Artificial intelligence and machine learning
• Cybersecurity integration
• System selection criteria
• Case Study: Digital transformation in a cooperative AML unit

Module 10: Emerging Threats – Digital & Crypto Risks

• Virtual currencies and anonymity risks
• Mobile money laundering
• Online fraud and phishing
• Social engineering threats
• Tech regulation updates
• Case Study: Cryptocurrency misuse via cooperative wallet

Module 11: Training & Capacity Building

• Developing internal AML/CTF training
• Role-based training programs
• Training frequency and compliance
• Certification programs
• Assessing training effectiveness
• Case Study: Cooperative builds robust staff training model

Module 12: Cooperatives & Cross-Border Transactions

• Regulatory challenges
• Correspondent banking issues
• Sanctions screening
• Jurisdictional risks
• Documentation and verification
• Case Study: Cross-border scam via cooperative account

Module 13: Whistleblowing & Ethics in AML

• Creating a whistleblower framework
• Protecting reporters
• Ethics in reporting
• Anti-retaliation policies
• Encouraging a speak-up culture
• Case Study: Whistleblower saves cooperative from regulatory action

Module 14: Preparing for AML/CTF Regulatory Inspections

• Inspection process overview
• Key documentation
• Mock audits
• Remediation of findings
• Post-inspection follow-up
• Case Study: A cooperative's successful regulatory audit

Module 15: Building a Cooperative Compliance Culture

• Leadership engagement
• Policy ownership
• Continuous communication
• Embedding AML values
• Metrics for cultural change
• Case Study: Cooperative wins award for ethical compliance culture

Training Methodology

• Interactive instructor-led presentations
• Practical case study analysis
• Real-time group activities and role plays
• Scenario-based simulations and quizzes
• Pre- and post-training assessments

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.