CAFBA Professional Educational Program ~ Omega Performance

CAFBA ~ Commercial Asset Finance Brokers Association of Australia Ltd ~ Professional Body Equipment Finance Industry

CAFBA ~ PROFESSIONAL EDUCATIONAL PROGRAM ~ OMEGA PERFORMANCE

~ click for further details about the available education programs: ~
Intellitrain | AAMC Training | Omega

OMEGA PERFORMANCE

click here for: ~ PDF version

The Anti Money Laundering (AML) course has been developed in cooperation with CAFBA and Omega Performance.

Specific recognition goes to Rod Toomey and the Education committee for their commitment, support and advice throughout the program development. Omega Performance recognises the importance of consulting closely with these professionals especially when designing and developing the modules, delivery methods and assessment for industry professionals.

The course has been designed to allow flexible study patterns and cater for the geographic spread of course participants. Therefore program material and assessment is online.

Omega Performance courses are recognized by Universities in Australia and students can apply for advanced standing at the undergraduate and postgraduate level upon successful completion of the courses.

Information about the new program is provided below.

~ to register for this program ~
click here to go to Omega Performance's website.

Unit No.	Unit Title	Overview	Suggested Study Time
	Anti-Money Laundering and Counter-Terrorism Financing Act	This module introduces participants to the requirements imposed under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML & CTFA). The purpose of this module is to highlight the requirements participants need to be familiar with. The AML & CFTA module also outlines requirements which deal with the identification process when funding a new loan or opening a new account.	Approximate completion time 60 minutes.
1.	Purpose of the Act	Reviews the purpose of the AML/CTFA and the industry sectors it covers including the financial sector, gambling sector, bullion dealers and other persons or businesses. It also provides an overview of the legislative framework and some of the key implementation stages. * The "Risk Based Approach" is also covered looking at the risks a reporting entity must consider.
2.	What is Money Laundering?	Introduces the participants to the ways criminals use the legitimate financial system to try and hide or disguise the proceeds of crimes. It then takes participants through: - Placement: the initial stage when the illegal funds are placed into the financial system. - Layering: the breaking down of large amounts and their movement through the financial system to create a complicated trail. - Integration: the final stage of the anti - money laundering process. The money is integrated into the financial system without any appearance of being illegally sourced funds. Unusual behaviour by a client/potential client is also covered to assist participants to identify anti - money laundering activity.
3.	Reporting Obligations	Provides participants with the reporting obligations and also covers what AUSTRAC does with the information collected, including the procedures to be followed.
4.	New Customer Identification	New customer identification addresses the rules issued by AUSTRAC as a minimum requirement for new customers who are seeking a product or service. It takes participants through: - the verification of identity of pre-commencement customers, only required if the identity of an existing customer is suspected by the entity - Customer due diligence, reporting of customer transactions on an ongoing basis - Employee due diligence program, which must include appropriate risk based systems and controls * Job aids are also included in this session for individuals, partnerships, Australian companies, trusts and associations.

Course Commencement
Flexible enrolment is on demand. Enroll when you like and undertake assessment when you are ready.

Delivery
Online and PDF.

Entry Requirements
Current employee of CAFBA member organisation.

Fees
Members pay for each unit taken.

For Further Information:
For more information about our special CAFBA Member offers
please call Doug Palmer on 02 9080 4389
or CLICK HERE to go to our website.

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