ICA/AFMA AML/CTF Regulation and Risk Program


Compliance with the AML/CTF Act requires much more than the establishment of appropriate procedures and controls. Just as important is equipping staff across the organisation with a sound knowledge of the AML/CTF regulation, the skill to critically assess vulnerabilities in banking products services and processes, and to recognise their individual responsibility to monitor and challenge processes on an ongoing basis and to strive for the best practice in money laundering risk identification and remediation. The AML/CTF Regulation and Risk Program has been developed to provide individuals with these essential capabilities.

Based on the ICA/AFMA AML/CTF Graduate Program, the AML/CTF Regulation and Risk Program provides a practical and rigorous guide to the AML/CTF regulatory framework and examines the elements of the risk-based approach to identifying and managing ML/TF risks. Using typologies and case studies, the program also explores the money laundering vulnerability of financial products and services. Throughout the course, students apply their learning to real-life scenerios and problems.

Who is this course suitable for?

This foundation program is suitable for early to mid-career professionals working in financial institutions as well as those who work in partnership with financial institutions.

  • AML Professionals
  • Regulators
  • Policy Makers
  • Law enforcement

This program may also be suitable for individuals who are currently ineligible to complete the AML/CTF Graduate Program, but may wish to complete the full Graduate Program in the future.

What will you learn?

This course provides a detailed guide to the regulatory framework on which AML/CTF practice is based. It examines the core elements of the risk-based approach. Using typologies and case studies, it explores the ML vulnerability of financial products and services. It enable professionals to perform the following:

  • apply advanced knowledge and skills in financial crime compliance and management roles
  • exercise judgment to plan and implement a range of AML/CTF functions
  • critically analyse the role of financial institutions in money laundering, terrorism financing and proliferation financing
  • evaluate the key elements of the Australian AML/CTF framework
  • assess the extent to which the Australian regime reflects international AML/CTF standards
  • lead organisational compliance with domestic and international AML/CTF laws
  • critically evaluate the principles underlying the risk-based approach
  • manage the assessment of an organisation's vulnerability to money laundering and terrorism financing
  • determine enhancements to AML/CTF systems to manage vulnerabilities of products, services and channels
  • assess the impact of emerging trends in the financial services industry and apply to organisational AML/CTF systems and processes

For more details, please see our program brochure.

Entry requirements

Entry to this course is limited to work experience in the finance industry and individuals who are able to demonstrate intermediate to advanced knowledge and skills in financial crimes compliance. Applicants must meet one of the following options for demonstrating previous relevant workplace experience and related study:

  • 3 years of relevant workplace experience
  • 18 months of relevant workplace experience and a diploma qualification (or equivalent)
  • 6 months of relevant experience and a bachelor degree (or equivalent)

How will you study?

This course is completed via a combination of workshop attendance, self-study, online support and assessment. Students will receive a comprehensive study manual containing the core content, self-assessment exercises, case studies and suggested solutions. 

How will you be assessed?

  • Prepare two skills assessments, demonstrating mastery of the requisite competencies
  • Participate in the mandatory online discussion forums
  • Participate in assessable workshop activities
  • Research and write one academic assignment up to 3,500 words 

What will you achieve?

On successful completion of the program, students will achieve the following:

  • AFMA Postgraduate Certificate of AML/CTF Regulation and Risk
    Currently this is not a nationally recognised qualification within the Australian Qualifications Framework.
  • ICA Advanced Certificate in AML/CTF Regulation and Risk
    Awarded in association with Aliiance Manchester Business School, The University of Manchester.

What does it cost?

AFMA Member: AUD 2,200 inc. GST
AFMA Non-member: AUD 2,750 inc. GST



Any questions?

Call +612 9776 4411 or email  education@afma.com.au.






Phone: +65 6500 0010

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© 2019 International Compliance Training Academy Registration number: 200706149E Period of registration: 12/03/2017 - 11/03/2021