[CRS-260105] Anti-Money Laundering in Real Estate What You Need To Know (AMLRE)

CPD Category: Prescribed Essentials under Structured Learning (4 training hours awarded)

Course Duration: 4.0 hours

Funding: Not Eligible for UTAP funding

Course Synopsis:

This comprehensive four-hour course provides participants with a clear understanding of the principles and practices essential for combating money laundering and terrorism financing.

It is designed for estate agents and real estate salespersons and those seeking to enhance their knowledge of AML and CFT compliance.

Participants will gain insight into the key legal frameworks, including the Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act, and the Terrorism (Suppression of Financing) Act.

They will also explore global compliance obligations under United Nations Security Council Resolutions (UNSCRs) and the role of organizations like the Financial Action Task Force (FATF) in promoting international standards.

The course emphasizes practical skills in identifying suspicious transactions, understanding the importance of Suspicious Transaction Reporting (STR), and implementing Customer Due Diligence (CDD) and Enhanced Customer Due Diligence (ECDD).

Real-world case studies will enable participants to assess risks, conduct compliance checks, and respond effectively to suspicious activities.

Course Objective(s):

At the end of this CPD Course, learners will have a good knowledge, awareness and understanding of the Anti-Money-Laundering Law and the Anti-Terrorism Financing Law. As such learners would be equipped to combat money laundering and financing of terrorism.

More particularly, learners will be able to explain and comply with the following Acts of Parliament: –

1. Corruption, Drug Trafficking And Other Serious Crimes (Confiscation of Benefits) Act (CDSA);
2. Terrorism (Suppression of Financing) Act (T(SOF)A);

In addition learners will have a good understanding about: –

• United Nations Security Council Resolutions (UNSCRs) and their compliance requirements.
• The use of AI in screening UN sanction lists.
• The role of the Financial Action Task Force (FATF) in fighting money laundering and terrorism financing
• Explore the role of the Suspicious Transaction Reporting Office (STRO) in combating financial crimes.
• Learn how to prevent money laundering and financing terrorism within corporate settings.
• Identify suspicious transactions and take appropriate action.
• Understand Suspicious Transaction Reporting (STR), its purpose, and filing procedures.
• Recognize the importance of compliance and the impact of not reporting or tipping off others.
• Apply Customer Due Diligence (CDD) and Enhanced Customer Due Diligence (ECDD) measures in practice.
• Identify offences and breaches under AML/CFT laws.
• Assess financial risks related to money laundering and terrorism financing.
• Perform effective compliance checks.
• Learn from reflective case studies to understand real-world scenarios.

By the end of the course, participants will have a strong foundation in AML and CFT laws and practices, empowering them to navigate the complexities of financial crime prevention with confidence and integrity.

Learning Outcome(s):

• Understanding Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) Laws
• Recognizing and Reporting Suspicious Transactions (STR)
• Applying Customer Due Diligence (CDD) and Enhanced Due Diligence (ECDD) Measures
• Understanding International AML/CFT Compliance Frameworks
• Case Study Analysis and Practical Compliance Strategies

About the Trainer

Dr Harry Yeo

Dr. Harry is a highly respected figure in the real estate industry, with over 50 years of experience in corporate governance, banking, and real estate. Currently, he serves as an Associate Executive Director at an esteemed Estate Agent and has been a lead trainer for real estate education in Singapore.

He holds a Ph.D. in Business Administration (American Management University, USA) and an MBA (Oklahoma City University, USA). He is dual-qualified as a Chartered Secretary and Chartered Banker, and is also a Certified Financial Planner.

He has extensive training credentials, including the Advanced Certificate in Training and Assessment (ACTA) and Diploma in Adult and Continuing Education (DACE). Over the past three decades, Dr. Yeo has played a key role in designing and delivering training programmes for the RES and REA examinations, and has hands-on experience across residential, commercial, and industrial property transactions. To-date, he has taught thousands of students who have successfully passed the various real estate examinations.