This course is designed for tellers working at cash tills at Banks and Money Service Bureaus (MSBs) to help them identify, prevent, and report money laundering activities conducted by walk-in customers. By focusing on real-world scenarios and practical applications, this training equips frontline staff with essential AML knowledge and skills to ensure compliance with regulatory requirements.
Key Learning Objectives:
- Understand the basics of money laundering and its impact on the organization.
- Identify common money laundering techniques used at cash tills.
- Conduct effective Customer Due Diligence (CDD) and Know Your Customer (KYC) checks.
- Recognize suspicious transactions, such as structuring and rapid cash movements.
- Follow internal reporting procedures and file Suspicious Activity Reports (SARs).
- Implement best practices for engaging customers and maintaining compliance.
Introduction to Money Laundering
- Definition and key concepts of money laundering
- The importance of AML compliance for tellers handling cash transactions
- Overview of global and local AML regulations
- Consequences of non-compliance (fines, legal actions, reputational damage)
Understanding Money Laundering Techniques
- Common methods used by criminals (structuring, smurfing, layering, and integration)
- High-risk cash transactions and red flags for tellers
- The role of digital currencies and remittance fraud in cash-based transactions
Customer Due Diligence (CDD) and Know Your Customer (KYC)
- Importance of verifying customer identity at the cash till
- How to conduct KYC checks effectively while handling cash
- Identifying suspicious behavior in walk-in customers at the counter
- Enhanced Due Diligence (EDD) for high-risk cash transactions
Recognizing Suspicious Transactions
- Large cash deposits or withdrawals and multiple small transactions (structuring)
- Transactions inconsistent with customer profile or business activity
- Customers making repeated cash transactions under reporting thresholds
- Unwillingness to provide identification or source of funds at the cash till
Reporting Suspicious Activities
- The role of the teller in reporting suspicious cash transactions
- How to complete a Suspicious Activity Report (SAR) for cash transactions
- Internal reporting procedures and escalation policies for cash-related concerns
- Maintaining confidentiality and avoiding tipping off the customer
Preventative Measures and Best Practices
- Compliance with transaction monitoring protocols for cash transactions
- Engaging customers with appropriate questioning techniques at the till
- Effective record-keeping and documentation for cash transactions
- The importance of ongoing AML training and refresher courses for cash till tellers
Case Studies and Practical Scenarios
- Real-world examples of money laundering attempts at cash tills
- Interactive exercises on detecting suspicious cash activities
- Role-playing exercises for engaging with customers at the counter
Assessment & Certification
- Multiple-choice quiz on key AML concepts specific to cash till operations
- Practical scenario-based assessments for handling suspicious cash transactions
- Certificate of completion for successful participants