Skip to main content

Learning path

AML & Financial Crime Compliance learning path: everything to study, topic by topic

Comprehensive anti-money laundering and financial crime compliance assessment covering AML regulatory frameworks, KYC/CDD processes, transaction monitoring, SAR/STR filing, sanctions compliance, financial investigations, and AML program governance.

Short answer

To learn AML & Financial Crime Compliance, work through 7 modules and 20 topics in the order they build on each other. It starts with AML Fundamentals, then moves on to KYC & Customer Due Diligence and Transaction Monitoring. Use the map as a checklist, or measure your level and study only what is missing.

7
modules
20
topics
45
min to assess

What you will study

Topics are grouped by module. Open one to see its objectives and key concepts.

1 · AML Fundamentals3 topics
  • AML Regulatory Framework

    Understanding the regulatory landscape for AML including BSA, USA PATRIOT Act, AMLA 2020, EU Anti-Money Laundering Directives, and FATF Recommendations

    Objectives

    • Explain the key AML laws and regulations applicable to financial institutions
    • Describe the role of FATF and its 40 Recommendations in setting global AML standards

    Key concepts

    • Bank Secrecy Act
    • USA PATRIOT Act
    • AMLA 2020
    • FATF Recommendations
    • EU AML Directives
    • FinCEN
  • Money Laundering Typologies

    Recognizing the three stages of money laundering (placement, layering, integration) and common typologies including shell companies, structuring, and smurfing

    Objectives

    • Identify the three stages of money laundering and common methods used at each stage
    • Recognize red flags associated with common money laundering typologies

    Key concepts

    • placement
    • layering
    • integration
    • structuring
    • smurfing
    • shell companies
    • trade-based laundering
  • BSA/AML Compliance Program Design

    Designing and implementing a BSA/AML compliance program with the five pillars: internal controls, BSA officer, training, independent testing, and CDD procedures

    Objectives

    • Design a BSA/AML compliance program that satisfies the five-pillar regulatory requirement
    • Assess the adequacy of an existing AML program against regulatory expectations

    Key concepts

    • five pillars of BSA
    • internal controls
    • BSA officer
    • AML training
    • independent testing
    • CDD procedures
2 · KYC & Customer Due Diligence3 topics
  • KYC Onboarding & Identification

    Implementing KYC onboarding processes including customer identification programs (CIP), identity verification, and risk-based account opening procedures

    Objectives

    • Design a CIP that meets regulatory requirements while maintaining customer experience
    • Apply risk-based approaches to identity verification during onboarding

    Key concepts

    • Customer Identification Program
    • CIP requirements
    • identity verification
    • documentary verification
    • non-documentary verification
    • risk-based onboarding
  • CDD & Enhanced Due Diligence

    Conducting customer due diligence and enhanced due diligence for higher-risk customers including risk rating methodologies and ongoing monitoring requirements

    Objectives

    • Implement a risk-based CDD program that distinguishes standard from enhanced due diligence
    • Design EDD procedures that provide meaningful risk insight beyond checkbox compliance

    Key concepts

    • CDD requirements
    • EDD triggers
    • risk rating methodology
    • ongoing monitoring
    • periodic review
    • source of funds
    • source of wealth
  • PEP Screening & UBO Identification

    Screening for politically exposed persons and identifying ultimate beneficial owners including complex corporate structures and trust arrangements

    Objectives

    • Implement PEP screening programs that balance detection accuracy with false positive management
    • Identify ultimate beneficial owners through complex corporate and trust structures

    Key concepts

    • PEP definition
    • PEP screening
    • beneficial ownership
    • UBO identification
    • corporate transparency
    • nominee structures
    • trust arrangements
3 · Transaction Monitoring3 topics
  • Transaction Monitoring Systems

    Designing and tuning transaction monitoring systems including rule-based scenarios, threshold calibration, and model validation for AML detection

    Objectives

    • Design transaction monitoring scenarios that detect suspicious activity while managing alert volume
    • Conduct model validation and threshold tuning to optimize detection effectiveness

    Key concepts

    • rule-based monitoring
    • scenario design
    • threshold calibration
    • model validation
    • above-the-line testing
    • below-the-line testing
    • false positive rate
  • Alert Management & Disposition

    Managing the alert lifecycle from generation through investigation and disposition including quality assurance and escalation protocols

    Objectives

    • Design an alert management process that ensures consistent and defensible disposition decisions
    • Implement quality assurance programs that identify gaps in alert investigation quality

    Key concepts

    • alert triage
    • Level 1 and Level 2 review
    • disposition documentation
    • escalation protocols
    • quality assurance
    • lookback reviews
  • Trade-Based Money Laundering

    Detecting trade-based money laundering through over-invoicing, under-invoicing, phantom shipments, and multiple invoicing schemes

    Objectives

    • Identify TBML red flags in trade finance transactions and shipping documentation
    • Design monitoring controls specific to trade-based money laundering detection

    Key concepts

    • TBML red flags
    • over-invoicing
    • under-invoicing
    • phantom shipments
    • multiple invoicing
    • trade finance compliance
    • letters of credit
4 · SAR/STR Filing & Regulatory Reporting3 topics
  • SAR/STR Preparation & Filing

    Preparing and filing Suspicious Activity Reports including narrative writing, supporting documentation, and FinCEN filing requirements

    Objectives

    • Write SAR narratives that clearly describe the suspicious activity and supporting facts
    • Apply SAR filing requirements including thresholds, timelines, and confidentiality obligations

    Key concepts

    • SAR narrative writing
    • suspicious activity determination
    • SAR filing thresholds
    • FinCEN BSA E-Filing
    • continuing SARs
    • joint SARs
    • SAR confidentiality
  • CTR Reporting & Structuring Detection

    Managing Currency Transaction Report filing obligations and detecting structuring activity designed to evade reporting thresholds

    Objectives

    • Apply CTR filing requirements including aggregation rules and exemption criteria
    • Detect structuring patterns that indicate intentional evasion of reporting thresholds

    Key concepts

    • CTR filing requirements
    • aggregation rules
    • structuring detection
    • CTR exemptions
    • Phase I exemptions
    • Phase II exemptions
    • monetary instrument logs
  • Regulatory Reporting & Compliance

    Managing the full spectrum of AML regulatory reporting including 314(a) and 314(b) information sharing, FBAR filing, and regulatory examination preparation

    Objectives

    • Manage AML regulatory reporting obligations across multiple filing types and deadlines
    • Prepare for and respond to AML regulatory examinations effectively

    Key concepts

    • 314(a) requests
    • 314(b) information sharing
    • FBAR filing
    • examination preparation
    • MRA/MRIA responses
    • consent order management
5 · Sanctions Compliance3 topics
  • Sanctions Screening & List Management

    Implementing sanctions screening programs including OFAC SDN list screening, fuzzy matching algorithms, and false positive management

    Objectives

    • Design sanctions screening programs that achieve high detection rates with manageable false positives
    • Implement interdiction points across all customer and transaction touchpoints

    Key concepts

    • OFAC SDN list
    • sanctions screening
    • fuzzy matching
    • false positive management
    • interdiction points
    • batch screening
    • real-time screening
  • Sanctions Programs & Regulations

    Understanding OFAC sanctions programs, EU restrictive measures, UN Security Council resolutions, and country-specific sanctions requirements

    Objectives

    • Navigate the complexity of overlapping sanctions regimes across OFAC, EU, and UN programs
    • Apply general and specific license frameworks to determine permissible transactions

    Key concepts

    • OFAC programs
    • comprehensive sanctions
    • sectoral sanctions
    • EU restrictive measures
    • UN Security Council resolutions
    • secondary sanctions
    • general licenses
  • Sanctions Evasion Detection

    Detecting sanctions evasion techniques including front companies, transshipment, flag hopping, and cryptocurrency-based evasion

    Objectives

    • Identify sanctions evasion techniques across traditional and digital channels
    • Design controls that detect sophisticated evasion methods including cryptocurrency-based schemes

    Key concepts

    • front companies
    • transshipment
    • flag hopping
    • crypto sanctions evasion
    • IP geolocation
    • deceptive shipping practices
    • vessel tracking
6 · Investigations & Intelligence3 topics
  • Financial Crime Investigations

    Conducting financial crime investigations including evidence gathering, transaction analysis, link analysis, and investigation documentation

    Objectives

    • Conduct structured financial crime investigations that are thorough and defensible
    • Apply link analysis and transaction tracing to map money laundering networks

    Key concepts

    • investigation methodology
    • evidence gathering
    • transaction analysis
    • link analysis
    • investigation documentation
    • case management
    • evidence preservation
  • Financial Intelligence Analysis

    Analyzing financial intelligence from internal data, open source intelligence, and FIU reports to identify emerging threats and systemic risks

    Objectives

    • Develop financial intelligence capabilities that proactively identify emerging threats
    • Translate intelligence analysis into actionable updates for monitoring and screening programs

    Key concepts

    • financial intelligence
    • OSINT
    • typology development
    • threat assessment
    • FIU reports
    • network analysis
    • risk indicators
  • Law Enforcement Cooperation

    Managing law enforcement requests including subpoenas, grand jury subpoenas, National Security Letters, and voluntary information sharing

    Objectives

    • Manage law enforcement requests while protecting customer rights and institutional obligations
    • Navigate the safe harbor provisions for SAR filing and voluntary information sharing

    Key concepts

    • subpoena management
    • grand jury subpoenas
    • National Security Letters
    • voluntary information sharing
    • safe harbor provisions
    • 314(a) matching
    • account seizure orders
7 · Expert AML Leadership2 topics
  • AML Program Governance & Board Reporting

    Governing the AML program at the BSA Officer and MLRO level including board reporting, regulatory examination management, and enterprise-wide risk assessment

    Objectives

    • Design an AML governance framework that provides effective board oversight and regulatory confidence
    • Conduct enterprise-wide AML risk assessments that drive program resource allocation

    Key concepts

    • BSA Officer responsibilities
    • MLRO function
    • board AML reporting
    • enterprise-wide risk assessment
    • AML program budget
    • regulatory examination management
    • independent testing oversight
  • Emerging Financial Crime Threats

    Addressing emerging financial crime threats including cryptocurrency laundering, DeFi risks, AI-enabled fraud, proliferation financing, and environmental crime proceeds

    Objectives

    • Adapt AML programs to address cryptocurrency and DeFi-related money laundering threats
    • Develop a forward-looking threat assessment that captures emerging financial crime vectors

    Key concepts

    • cryptocurrency laundering
    • DeFi risks
    • virtual asset service providers
    • AI-enabled fraud
    • proliferation financing
    • environmental crime
    • trade in wildlife

Levels: Junior, Mid, Senior, and Expert

Explain it in your own words

Graded by AI · no account · 1 question

No options to guess from: you write, the AI grades against the topic's rubric and tells you what level your answer reads at.

0 / 600

Already studying AML & Financial Crime Compliance?

The assessment measures topic by topic, and your plan skips what you already know.

Measure my level

Open to read. An account is only needed to be measured.

Frequently asked questions

Where should I start studying AML & Financial Crime Compliance?

Start with AML Fundamentals: AML Regulatory Framework, Money Laundering Typologies, and BSA/AML Compliance Program Design. The map orders topics by what they depend on, so each one prepares the next.

How long does a full AML & Financial Crime Compliance assessment take?

A full assessment of this path takes about 45 minutes. Study time depends on where you start; a diagnostic shows which topics you can skip.

Do I need an account to use this page?

No. The map, objectives and key concepts are open. You only need an account to be measured, get your gap by topic and receive a plan.