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Welcome to Banker's Academy

With 30+ years of experience, Banker's Academy is the leading global provider of training solutions to the financial community. We specialize in BSA/AML, Compliance Officer, HR Professional, Teller and Branch Manager Training. We’re proud to have partnered with over 2,500 clients worldwide in various financial services industries, with a focus on banks, credit unions, and money service businesses. Let us help you reach your target audience with an innovative, results-driven educational experience.

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Anti Money Laundering (AML) in Brazil



Anti Money Laundering (AML) By Country: Brazil

Anti Money Laundering (AML) in Brazil

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Money laundering in Brazil is a widespread problem. As a result, the Government of Brazil (GOB) has a comprehensive Anti-Money Laundering (AML) regulatory system in place.

Brazilian authorities report that the major sources of illegal proceeds are crimes against the financial system (such as fraud and embezzlement), drug trafficking, and tax evasion. Money laundering in Brazil seems to be primarily associated with domestic crime, including the smuggling of contraband goods and corruption, narcotics trafficking, and organized crime, which generates funds that may be laundered through the banking system, real estate investment, or financial asset markets.

As a result, the Government of Brazil (GOB) has a comprehensive Anti-Money Laundering (AML) regulatory regime in place.

In 1998, the GOB enacted Law 9.613 criminalizing money laundering related to drug trafficking, terrorism, arms trafficking, extortion, and organized crime.

Law 9.613 also created a Financial Intelligence Unit (FIU), the Conselho de Controle de Actividades Financieras (COAF), which is housed within the Ministry of Finance. The COAF consists of representatives from regulatory and law enforcement agencies, including the Central Bank and Federal Police. The COAF regulates those financial sectors not already under the jurisdiction of another supervising entity.

This law was updated in 2002. Then, Law 12,683 was amended in July of 2012, providing a more wide-ranging definition of the types of illicit activity that fall under the category of "harmful acts."

Law 10.701 of 2003 criminalizes terrorist financing as a predicate offense for money laundering. The law also establishes crimes against foreign governments as predicate offenses, requires the Central Bank to create and maintain a registry of information on all bank account holders, and enables the Brazilian Financial Intelligence Unit (COAF) to request from all government entities financial information on any subject suspected of involvement in criminal activity.

The Brazilian Central Bank’s (BACEN) AML unit (DECIF) supervises compliance for AML regulations.

AML Training in Brazil

Brazil's Law 9.613 provides information for crimes related to money laundering or the concealment of assets, rights, and valuables. This and other laws require financial institutions to train their employees on how to recognize suspicious activity that may be tied to money laundering or terrorist financing activities.

In 2012, following the publication of the Financial Action Task Force's (FATF's) executive summary of the mutual evaluation report summarizing AML/CFT measures in place in Brazil, the Central Bank amended the rules applicable to procedures that must be adopted by financial institutions in order to prevent and combat money laundering and terrorist financing.

Banking in Brazil

The National Monetary Council, under the direction of the Minister of Finance, is Brazil’s chief financial policy-making body. The Brazilian Central Bank (BACEN), created by Law no. 4595 in 1964, issues currency and controls the money supply, credit, foreign capital, and other high-level financial activities.

The federal government also uses other public financial institutions to implement its policies, the most important of these being the Bank of Brazil. The largest bank in the country, Bank of Brazil has numerous agencies at home and abroad and is the main source of long-term loans for farmers and exporters of manufactured goods.

Brazilian financial institutions operating in the domestic market are in general diversified, dynamic, and competitive. Brazil has approximately 168 multiple and commercial banks with total assets of approximately USD 349 billion and equity of approximately USD 49 billion.

Many states have their own government banks, among which the Bank of São Paulo is the most important. A lesser share of Brazil’s commercial banking is in the hands of private banks, which also provide short-term loans and savings accounts. In the 1990s, federal and state governments privatized or closed several formerly state-owned banks and allowed foreign investors to control more financial institutions.

Economy in Brazil

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries with a GDP purchasing power parity of 1.836 trillion BRL. Brazil continues to expand its presence in the global market place.

Having weathered 2001-03 financial turmoil, capital inflows are regaining strength and the currency has resumed appreciating. The resilience in the economy stems from commodity-driven current account surpluses, and sound macroeconomic policies that have bolstered international reserves to historically high levels, reduced public debt, and allowed a significant decline in real interest rates. A floating exchange rate, an inflation-targeting regime, and a tight fiscal policy are the three pillars of the economic program. However, the government's goal of achieving strong growth while reducing the debt burden may create inflationary pressures.

Currency in Brazil

The currency in Brazil is the Real. However, the name of the money was only adopted in 1994. This was because in the past Brazil had many different currencies due to fluxes and changes in the economy.

In the Brazilian currency there are 1, 2, 5, 10, 20, 50 and 100 bills. Most bills have pictures of animals on one side and then the feminine character that is a representation of Brazil on the other. Coins are available in values of 1 cent, 5 cents, 10 cents, 25 cents, 50 cents and 1 Real. Coins vary in size and color.

Other Statistic of Brazil

Time Zone: BRT (UTC -2 to -5).

Location: Eastern South America, bordering the Atlantic Ocean.

Population: 202,768,562 (2014 estimate.)

Capital: Brasilia

Languages Spoken: Portuguese, LIBRAS.


A Free Overview Of Anti Money Laundering (AML) For Brazil.

Anti Money Laundering (AML) in Australia



Anti Money Laundering (AML) By Country: Australia

Anti Money Laundering (AML) in Australia

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Money laundering in Australia is a serious problem. The Government of Australia has maintained a comprehensive Anti-Money Laundering (AML) system to detect, prevent, and protect against financial crimes and terrorist financing. With the enactment of the Proceeds of Crime Act 1987, Australia criminalized money laundering-related offenses as serious crimes. It was superseded by the Proceeds of Crime Act 2002, which provides for civil forfeiture of proceeds of crime, as well as for continuing and strengthening the existing conviction-based forfeiture scheme that was in the Proceeds of Crime Act 1987.

The Proceeds of Crime Act 2002 also enables freezing and confiscation of property used in, intended to be used in, or derived from, terrorism offenses. It is intended to implement obligations under the UN International Convention for the Suppression of the Financing of Terrorism and resolutions of the UN Security Council relevant to the seizure of terrorism-related property.

In keeping up with global best practice, the AML/CTF Act 2006 received Royal Assent on December 12, 2006, following a long process of consultation.

AML Training in Australia

Australia's 1987 Proceeds of Crime Act and its 2002 amendment require all financial institutions within the country of Australia to create and implement training programs and procedures to combat money laundering and terrorist financing.

New AML/CTF rules focused primarily on customer due diligence (CDD) took effect in June 2014, under which a reporting entity must collect and verify certain information about beneficial owners of all types.

Current Economic Status

Australia has an enviable, strong economy with a per capita GDP on par with the four dominant West European economies. Robust business and consumer confidence and high export prices for raw materials and agricultural products are fueling the economy, particularly in mining states. Australia's emphasis on reforms, low inflation, a housing market boom, and growing ties with China have been key factors behind the economy's 16 solid years of expansion. Drought, robust import demand, and a strong currency have pushed the trade deficit up in recent years, while infrastructure bottlenecks and a tight labor market are constraining growth in export volumes and stoking inflation. Australia's budget has been in surplus since 2002 due to strong revenue growth.

The financial landscape in Australia is dominated by what are known as the “Big Four.” These are considered the main banking institutions in the country:

All of the banks within Australia are supervised by the Central Bank – The Reserve Bank of Australia (RBA). Other regulatory agencies working in conjunction with the RBA are the Australian Competition and Consumer Commission and the Australian Securities Exchange.

Australian Currency

The Australian dollar (sometimes abbreviated as AUD) is the currency of Australia. Use of A$ or AU$ is often used informally to distinguish it from other currencies used around the world.

Additional Statistics

Time Zone: Australia has three standard time zones: eastern (UTC+10), central (UTC+9:30) and western (UTC+8). There are also some areas using an unofficial "central western" zone (UTC+8:45). Most Australian external territories also observe different time zones.

Location: Oceania, continent between the Indian Ocean and the South Pacific Ocean (Geographic coordinates for Australia are 27 00 S, 133 00 E).

Population: 23,807,500 (2015 estimate.)

Capital: Canberra

Languages Spoken: English


A Free Overview Of Anti Money Laundering (AML) For Australia.

Anti Money Laundering (AML) in Malaysia



Anti Money Laundering (AML) By Country: Malaysia

Anti Money Laundering (AML) in Malaysia

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Money laundering in Malaysia is not a significant issue, however its financial sectors are susceptible to crimes related to narcotics traffickers, financiers of terrorism, and other criminal elements.

Since 2000, Malaysia has made significant progress in constructing a comprehensive Anti-Money Laundering (AML) regime. Malaysia’s National Coordination Committee to Counter Money Laundering (NCC), comprised of members from 13 government agencies, oversaw the drafting of Malaysia’s Anti Money Laundering Act of 2001 (AMLA) and coordinates government-wide AML efforts.

The AMLA, enacted in January 2002, criminalized money laundering and lifted bank secrecy provisions for criminal investigations involving more than 150 predicate offenses. The law also created a Financial Intelligence Unit (FIU) located within the Central Bank, called Bank Negara Malaysia (BNM). The FIU is tasked with receiving and analyzing information and sharing financial intelligence with the appropriate enforcement agencies for further investigations. The Malaysian FIU works with more than twelve other agencies to identify and investigate suspicious transactions.

AML Training in Malaysia

Malaysia's Anti Money Laundering Act of 2001 requires all reporting institutions to create ongoing employee training programs to guard against and recognize suspicious transactions. Institutions must also require training for subsidiaries outside of Malaysia.

The Economy of Malaysia

Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. The Government of Malaysia is continuing efforts to boost domestic demand to wean the economy off of its dependence on exports. Nevertheless, exports (particularly electronics) remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel forced Kuala Lumpur to reduce government subsidies.

Banking In Malaysia

Bank Negara Malaysia is the Central Bank of Malaysia. The Central Bank serves as the banking regulator in the country, including the Islamic financial sector as well. The Central Bank is also the only issuer of currency in Malaysia.

Malaysia's Currency

Malaysia’s currency is the Ringgit (RM). It is available in 1, 5, 10, 50, and 100 denominations. Coins are available in 1, 5, 10, 20, and 50 sen and 1 ringgit.

Other Key Statistics of Malaysia

Time Zone: UTC+8 (13 hours ahead of Washington, DC during Standard Time).

Location: Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and the South China Sea, south of Vietnam.

Population: 29.72 million (2013 est.).

Labor Force: Approximately 18% work in agriculture, 24% in industry and 58% in services industries. The unemployment rate is 3.7%.

Languages Spoken: Bahasa Malaysia (official), English, Chinese (Cantonese, Mandarin, Hokkien, Hakka, Hainan, Foochow), Tamil, Telugu, Malayalam, Panjabi and Thai.

Trade Organizations: Malaysia is a member of the United Nations (UN) and the World Trade Organization (WTO).


A Free Overview Of Anti Money Laundering (AML) For Malaysia.

Anti Money Laundering (AML) in Japan



Anti Money Laundering (AML) By Country: Japan

Anti Money Laundering (AML) in Japan

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Money laundering in Japan is a persistent problem. Although Japan maintains a sound Anti-Money Laundering (AML) system, the country still faces substantial risk of money laundering by organized crime and other domestic and international criminal elements.

The principal sources of laundered funds are narcotics trafficking and financial crimes (illicit gambling, loan-sharking, extortion, abuse of legitimate corporate activities, internet fraud schemes, and all types of property-related crimes), which are often linked to Japan’s organized criminal organizations.

Drug-related money laundering was first criminalized under The Anti-Drug Special Law that took effect in July 1992. This law also mandates the filing of suspicious transaction reports for suspected proceeds of drug offenses, and authorizes controlled drug deliveries. The legislation also creates a system to confiscate illegal profits gained through drug crimes. The seizure provisions apply to tangible and intangible assets, direct illegal profit, substitute assets, and criminally-derived property that has been commingled with legitimate assets.

Japan expanded its money laundering law beyond narcotics trafficking to include money laundering predicates such as murder, aggravated assault, extortion, theft, fraud, and kidnapping when it passed the 1999 Anti-Organized Crime Law, which took effect in February 2000. The law also extends the confiscation laws to include the additional money laundering predicate offenses and value-based forfeitures. It also authorizes electronic surveillance of organized crime members, and enhances the suspicious transaction reporting system.

Japan’s Financial Services Agency (FSA) supervises public-sector financial institutions and securities transactions. The FSA classifies and analyzes information on suspicious transactions reported by financial institutions and provides law enforcement authorities with information. Japanese banks and financial institutions are required by law to record and report the identity of customers engaged in large currency transactions.

The Japan Financial Intelligence Center (JAFIC) serves as Japan’s Financial Intelligence Center. The JAFIC releases an annual report on the status of crimes of money laundering in Japan.

AML Training in Japan

As a member of the Financial Action Task Force (FATF), Japan requires financial institutions in the country to develop programs to combat against money laundering. Such programs should include the development of internal policies, procedures and controls, an ongoing employee training program, and an audit function to test the system.

The Economy of Japan

Japan is the second largest economy in the world, after the United States, and third after the United States and China in terms of purchasing power parity.

Distinguishing characteristics of the Japanese economy include the cooperation of manufacturers, suppliers, distributors, and banks in closely-knit groups called keiretsu; relatively shallow international competition in domestic markets; the powerful enterprise unions and shuntō; cozy relations with government bureaucrats, and the guarantee of lifetime employment (shushin koyo) in big corporations and highly unionized blue-collar factories. Recently, Japanese companies have begun to gradually move away from some of these norms in an attempt to increase their global competitiveness and profitability (the latter due mostly to their increased reliance on equity rather than debt financing).

Banking In Japan

The central bank of Japan is the Bank of Japan.

According to its charter, the missions of the Bank of Japan are:

  • Issuance and management of banknotes.
  • Implementation of monetary policy.
  • Providing settlement services and ensuring the stability of the financial system.
  • Treasury and government securities-related operations.
  • International activities.
  • Compilation of data, economic analyses and research activities.

The Financial Services Agency (FSA) is the regulator of financial institutions in Japan.

Japanese Currency

The currency of Japan is the Yen. Current banknotes available are the 10,000, 5,000, 2,000, and 1,000 yen. Coins currently available are the 500, 100, 50, 10, 5, and 1 yen coins.

Other Key Statistics of Japan

Time Zone: UTC+9 (14 hours ahead of Washington, DC during Standard Time).

Location: Eastern Asia, island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula.

Population: 127.3 million (2013 est.)

Labor Force: Approximately 4.6% work in agriculture, 27.8 in industry, and 67.7% in services industries. The unemployment rate is 3.7%.

Languages Spoken: Primarily Japanese.

Trade Organizations: Japan is a member of the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC).


A Free Overview Of Anti Money Laundering (AML) For Japan.