Curriculum-NISM-IFSCA-01: Certification Course on Anti Money Laundering and Counter Terrorist Financing in the IFSC

Curriculum- Frequently Asked Questions – NISM-IFSCA-01: Certification Course on Anti Money Laundering and Counter Terrorist Financing in the IFSC

Part A: General Rules and Regulations related to Anti-Money Laundering in India            

Chapter-1 Introduction to Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Proliferation Financing (PF) 

1. Introduction to the concept of money laundering
2. Process of Money Laundering
3. Global initiatives towards Anti Money Laundering Laws
4. Indian initiatives towards Anti Money Laundering Laws

Chapter-2 Prevention of Money Laundering Act, 2002        

1. Prevention of Money Laundering Act, 2002 (PMLA)
2. Maintenance of records and furnishing of reports to FIU-IND
3. Main Authorities entrusted for investigations

Chapter-3 The Prevention of Money-laundering (Maintenance of Records) Rules, 2005 

1. Introduction to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005
2. Maintenance of Records of Transactions
3. Digital Know Your Customer (KYC) Procedure

Chapter-4 Scheduled Offences           

1. The Concept of Offence
2. List of Scheduled Offences

Part B: IFSCA Regulations for Anti Money Laundering (AML), Counter-Terrorist Financing (CTF) and Know Your Customer (KYC) 

Chapter-5 IFSCA (Anti Money Laundering, Counter Terrorist Financing and Know Your Customer) Guidelines, 2022             

1. Introduction of IFSCA (AML, CFT and KYC) Guidelines
2. Duties of a Regulated Entity
3. Risk Based Approach
4. Business Risk Assessment
5. Identification and Reporting of Suspicious Transactions
6. Correspondent Banking and Wire transfer
7. Internal Policies, Compliance, Audit and Training
8. Record Keeping

Chapter-6 IFSCA Guidelines for KYC Norms 

1. IFSCA guidelines for KYC norms
2. Customer Due Diligence Process
3. Customer Due Diligence Requirements
4. Accounts of Politically Exposed Persons
5. Enhanced Due Diligence
6. Simplified Customer Due Diligence
7. Ongoing customer due diligence
8. Ongoing sanctions screening
9. Failure of Regulated Entity to conduct or complete customer due diligence
10. Periodic Updation
11. Differences between IFSCA AML/CFT guidelines and other Indian regulators

Chapter-7 Discussion on PMLA related Cases           

1. FIU-IND V/S Bybit Fintech Limited (Bybit), a Virtual Digital Asset Service Provider
2. IFSCA V/S Prowess Insurance Brokers Pvt. Ltd. (PIBPL)
3. IFSCA V/S Neo Asset Management Private Limited
4. FIU-IND V/S Way2Wealth Brokers Private Limited
5. FIU-IND vs Paytm Payments Bank Limited

Chapter-8 Financial Action Task Force and Its Recommendations on AML and CFT            

1. Introduction of FATF
2. FATF Recommendations
3. IX Special Recommendations
4. FATF-Style Regional Bodies (FSRBs)
5. What is Trade-based Money Laundering?
6. The International Trade System