20 - 25 minutes
Certificate Included
China
This self-paced course provides an intermediate-level AML/CFT refresher for Internal Audit professionals, designed to be completed in approximately 20 to 25 minutes. It focuses on how Internal Audit evaluates the effectiveness of AML, counter-terrorist financing, and counter-proliferation financing frameworks within regulated financial institutions. The course is suitable for Internal Auditors, Audit Managers, Risk and Compliance Auditors, and professionals involved in providing independent assurance over financial crime controls. It applies a principles-based approach aligned with FATF Recommendations, while recognising that domestic laws and supervisory expectations may differ across jurisdictions. Learners will explore how AML/CFT compliance operates in practice, including risk assessments, governance structures, control testing, customer due diligence, screening, escalation, and suspicious activity reporting. Through realistic audit scenarios, the course emphasises professional judgement, identification of control breakdowns, and how to respond to trigger situations that require escalation or expanded testing. By the end of the course, learners will be better equipped to assess AML/CFT frameworks critically, identify systemic weaknesses, and support stronger regulatory outcomes through effective internal audit practices.
Module 1 – Foundations of AML/CFT for Internal Audit
You will refresh your understanding of Internal Audit’s role within the AML/CFT framework, including governance expectations, independence, and how the Three Lines Model supports effective financial crime risk management in line with international standards.
Module 2 – Understanding the AML/CFT Risk Environment
You will learn how AML/CFT risk arises across customers, products, geographies, and delivery channels, and how Internal Audit challenges the Business Risk Assessment to ensure risks are accurately identified, assessed, and updated.
Module 3 – Testing and Evaluating AML/CFT Controls
You will explore how Internal Audit designs and executes control testing, identifies design and operational failures, and recognises trigger situations that signal deeper weaknesses in controls, systems, or risk culture.
Module 4 – Reviewing CDD, EDD, and Screening Processes
You will learn how to assess the effectiveness of Customer Due Diligence, Enhanced Due Diligence, and sanctions screening, including documentation quality, risk ratings, escalation practices, and alignment with FATF expectations.
Module 5 – Reporting, Escalation, and Trigger Situations
You will examine how Internal Audit evaluates suspicious activity reporting processes, escalation pathways, and behavioural red flags that indicate weaknesses in governance, oversight, or decision-making.
Module 6 – Continuous Improvement in AML/CFT Audits
You will learn how Internal Audit supports continuous improvement by monitoring emerging risks, communicating findings clearly, validating remediation, and ensuring AML/CFT frameworks remain effective as regulatory expectations evolve.
