NFA Anti-Money Laundering Compliance

Overview

Since the destruction of the Trade Center Towers in New York in 2001, money laundering and the financing of terrorist activities have received increasing attention from law enforcement. As a reaction to the focus, Congress passed the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 (AML Act), a section of the USA PATRIOT ACT. Under certain provisions of the AML Act, all Futures Commission Merchants (FCMs) and Introducing Brokers (IBs) are required to develop and implement an anti-money laundering (AML) compliance program. The National Futures Association (NFA) has implemented this requirement via an Interpretive Notice. 

Learning Objectives

The purpose of this course is to provide a thorough understanding of money laundering and terrorist financing activities, NFA’s requirement for an AML program, and the detailed structure necessary for such a program. The course will focus on the minimum standards for an acceptable AML compliance program. The course will also explore the various enforcement activities which have been implemented around money laundering and terrorist financing.

Upon conclusion of this course, you should:

  • have a solid understanding of the nature of money laundering and terrorist financing activities.
  • understand the precise requirements for an AML program under NFA rules.
  • understand the implementation of an acceptable AML compliance program, including a Customer Identification Program
  • understand the nature and severity of enforcement actions taken in the AML arena

Designed For

This course is designed for Futures Commission Merchants and Introducing Brokers.
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