E-Learning on Anti-Money Laundering and Countering the Financing of Terrorism under AMLR

E-Learning on Anti-Money Laundering and Countering the Financing of Terrorism under AMLR

An unusual incoming payment, inconsistent customer information or a transaction that does not match previous behaviour: in day-to-day business, money laundering and terrorist financing are rarely obvious. It is therefore essential that employees can recognise relevant warning signs and know how to respond appropriately.

The modular e-learning course “Anti-Money Laundering and Countering the Financing of Terrorism under AMLR” covers the key regulatory principles, risks, warning signs and required actions. It provides employees with practical preparation for the European Anti-Money Laundering Regulation – Regulation (EU) 2024/1624 – and the associated requirements for preventing money laundering and terrorist financing.

The training programme comprises three coordinated courses:

  • an approximately 60-minute standard e-learning course;
  • an approximately 10-minute supplementary module for credit institutions;
  • an approximately 10-minute supplementary module for insurance undertakings.

The standard course provides a shared foundation of specialist knowledge. The two supplementary modules then apply these principles to the specific risks, products and business processes of credit institutions and insurance undertakings respectively.

Three coordinated AMLR training courses

1. Standard e-learning on Anti-Money Laundering and Countering the Financing of Terrorism under AMLR

The approximately 60-minute standard e-learning course is designed for all employees who may encounter matters relevant to anti-money laundering requirements in the course of their work. It provides a cross-sector understanding of the prevention of money laundering and terrorist financing.

Participants first learn how money laundering typically takes place. The course covers the placement of criminally obtained assets, the layering of transactions to conceal their origin and their subsequent integration through apparent legitimisation or investment.

Terrorist financing is also examined as a process. The course explains the raising, storage, transfer and use of funds. It highlights that terrorist financing may involve assets originating from both illegal and legitimate sources.

Further key topics covered by the standard course include:

  • the Anti-Money Laundering Regulation – Regulation (EU) 2024/1624;
  • Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets;
  • the role of the European Authority for Anti-Money Laundering and Countering the Financing of Terrorism, or AMLA;
  • regulatory technical standards, implementing technical standards and guidelines;
  • customer, product, service and transaction risks;
  • delivery channel and geographical risks;
  • the business-wide risk assessment;
  • internal policies, procedures and controls;
  • the responsibilities of the management body, compliance function and Anti-Money Laundering Officer;
  • internal information, reporting and escalation channels;
  • data protection, record-keeping obligations and requests from authorities.

An extensive practical section examines potential warning signs. The examples cover customer information, customer behaviour, account use, cash, payment transactions, lending, trust arrangements, insurance, securities transactions, asset management and crowdfunding.

The core response framework is: Recognise unusual activity, preserve the relevant information, report it internally without delay, maintain confidentiality and follow the instructions of the responsible function.

Employees learn to distinguish clearly between their own responsibilities and the conclusive assessment conducted by the Anti-Money Laundering Officer or other responsible internal function.

2. Supplementary training for credit institutions

The approximately 10-minute supplementary module for credit institutions builds on the standard e-learning course. It applies the general principles of money laundering prevention to the specific products, transactions and business processes of a bank.

The module covers in particular:

  • cash transactions and evidence of the source of funds;
  • risks associated with property transactions;
  • investment business and investment funds;
  • syndicated loans;
  • correspondent banking relationships;
  • screening and transaction monitoring;
  • trust accounts;
  • trade finance.

For cash and property transactions, the focus is on the economic plausibility of the transaction, the source of the assets or funds used, possible third-party payments and the transparency of ownership and shareholding structures.

In the investment business section, participants learn how investment management companies, investment funds and investor structures must be incorporated into the risk assessment. For syndicated lending, the module explains the conditions under which a credit institution may rely on due diligence performed by the lead institution or another participating bank.

Correspondent banking relationships are another key focus. The module covers the identification and risk assessment of the respondent institution, its ownership and control structure, the quality of its safeguards and the ongoing monitoring of the business relationship.

The different functions of monitoring and screening are clearly distinguished. The module also covers data quality, rules, scenarios, thresholds, alert handling and the explainability of automated decisions.

Trust accounts and trade finance complete the credit institution module. Participants learn how to assess discrepancies between account holders and beneficial owners and how to examine the plausibility of international trade transactions by considering countries, trade routes, goods, business partners, transport routes and payment flows.

3. Supplementary training for insurance undertakings

The approximately 10-minute supplementary module for insurance undertakings explains the specific features of money laundering prevention in the insurance business.

It begins by explaining which insurance activities are subject to anti-money laundering obligations. These include, in particular, certain life assurance products, accident insurance policies with a return of premiums, capital redemption products and lending activities.

Further topics include:

  • activity-specific classification as an obliged entity;
  • specific requirements relating to loans granted by insurance undertakings;
  • risk assessments and internal organisation;
  • occupational pension provision;
  • assignments by way of security and beneficiary designations;
  • long-term working-time accounts and pension liability insurance policies;
  • the updating of customer information;
  • the handling of individual items of missing information.

In relation to occupational pension provision, particular attention is paid to determining the beneficial owner. The module also explains how different beneficiaries, the continuation of a policy on a private basis or a change of policyholder may affect customer due diligence obligations.

Specific contractual arrangements, such as assignments by way of security, long-term working-time accounts, pension liability insurance policies and pension rights adjustments following divorce, are examined on the basis of their respective roles and risk structures.

Participants also learn about typical events that trigger the need to update customer information. These include substantial additional contributions, premium increases, changes of name, returned post, policy loans and changes of contracting party.

The insurance module also explains how to conduct a risk-based and proportionate assessment where individual items of information are missing and when complete identification must be ensured.

The appropriate learning pathway for each target group

The modular structure allows each target group to follow a clearly defined learning pathway:

  • All employees: approximately 60 minutes of standard e-learning
  • Employees of credit institutions: standard e-learning plus the credit institution module, totalling approximately 70 minutes
  • Employees of insurance undertakings: standard e-learning plus the insurance undertaking module, totalling approximately 70 minutes

This ensures that all participants receive the same regulatory and methodological foundation. The sector-specific modules then explore the matters that are particularly relevant to the respective business model.

Learning objectives of the AMLR e-learning courses

After completing the relevant learning pathway, participants will be able to:

  • distinguish between money laundering and terrorist financing;
  • understand typical processes and forms of money laundering and terrorist financing;
  • place the key provisions and objectives of the AMLR in context;
  • recognise different risk factors;
  • assess customer profiles and transactions within their relevant context;
  • recognise typical warning signs;
  • document relevant information completely;
  • comply with internal reporting and escalation procedures;
  • maintain confidentiality and observe the prohibition on disclosure;
  • distinguish their own responsibilities from those of the Anti-Money Laundering Officer.

A warning sign does not, in itself, constitute conclusive evidence of money laundering or terrorist financing. It may, however, require an immediate internal review. The e-learning courses provide guidance and confidence in handling precisely these situations.

Practical and accessible knowledge transfer

The three online training courses combine regulatory expertise with specific situations from day-to-day business. Technical terminology and legal relationships are explained clearly and then applied to practical examples.

The training includes:

  • short, clearly structured learning units;
  • realistic case studies;
  • process diagrams and risk models;
  • clearly presented warning signs;
  • key takeaways and summaries;
  • interactive knowledge questions;
  • clear explanations of the correct answers;
  • a final knowledge assessment.

As a result, participants do more than learn individual regulatory provisions. They understand how risks arise, which observations are relevant and which steps must be followed in a specific situation.

Who are the training courses suitable for?

The standard e-learning course is designed for employees of obliged entities, particularly those working in:

  • customer service and sales;
  • payments and account management;
  • lending and securities business;
  • insurance and lending activities;
  • operations and back-office functions;
  • compliance and money laundering prevention;
  • risk management and internal control functions;
  • management and leadership roles.

The supplementary modules are specifically designed for employees of credit institutions or insurance undertakings who work with sector-specific products, customer relationships or control processes.

Preparing for the European Anti-Money Laundering Regulation

Regulation (EU) 2024/1624 generally applies from 10 July 2027. It establishes a directly applicable European legal framework for the prevention of money laundering and terrorist financing. Further details will be provided in particular through regulatory technical standards, implementing technical standards and AMLA guidelines.

The e-learning courses help organisations raise employees’ awareness of the new European requirements at an early stage, establish a shared understanding of money laundering risks and communicate clear internal procedures.

AMLR training for credit institutions and insurance undertakings

The modular e-learning programme provides organisations with a professionally structured and practice-oriented training solution:

60 minutes of shared core knowledge plus 10 minutes of targeted sector-specific training.

This creates an appropriate learning pathway that explains regulatory requirements clearly, addresses sector-specific risks and gives employees confidence in dealing with unusual or potentially suspicious matters.

Would you like to use the e-learning course “Anti-Money Laundering and Countering the Financing of Terrorism under AMLR” in your organisation? Contact us to learn more about the three available training courses and the appropriate learning pathway for your employees.

Bridgly Education Partner