Vigilance in Finance: A Course on AML Transaction Monitoring for SACCOs

Introduction

For savings and credit cooperative organizations (SACCOs), maintaining trust and integrity is paramount to their mission. A crucial part of this responsibility is to act as the first line of defense against financial crime, including money laundering and terrorism financing. While SACCOs are often community-based, they are not exempt from the sophisticated and evolving methods used by criminals to launder illicit funds. A robust anti-money laundering (AML) program, with a particular focus on diligent transaction monitoring, is not just a regulatory requirement but a fundamental pillar of sound governance. It protects the organization from severe financial and reputational damage while safeguarding the financial system from abuse.

This five-day training course is designed to equip SACCO professionals with the skills and knowledge to implement and manage an effective AML transaction monitoring program. The curriculum will guide participants through the core principles of AML, the specific risks faced by SACCOs, and the practical steps to identify and report suspicious activities. You will learn to apply a risk-based approach to monitoring, leverage technology, and build a culture of compliance that ensures the organization's integrity. By the end of this course, you will be able to confidently protect your organization and its members from the threats of financial crime.

Duration 5 days

Target Audience This course is for all SACCO staff, including tellers, loan officers, compliance officers, managers, and board members.

Objectives

  1. To understand the global and local context of anti-money laundering.
  2. To recognize the specific money laundering and terrorism financing risks faced by SACCOs.
  3. To master the process of conducting effective transaction monitoring.
  4. To learn how to identify red flags and suspicious transaction patterns.
  5. To understand the regulatory reporting requirements for suspicious activity.
  6. To develop a risk-based approach to AML transaction monitoring.
  7. To understand the role of technology in enhancing monitoring capabilities.
  8. To master the documentation and record-keeping process for compliance.
  9. To learn about the legal and reputational consequences of non-compliance.
  10. To develop a proactive culture of compliance within the organization.

Course Modules

Module 1: The Global and Local AML Framework

  • An overview of money laundering and terrorism financing.
  • Key international AML standards and organizations (e.g., FATF).
  • The purpose and legal basis for AML regulations.
  • The specific role and responsibilities of SACCOs in the AML framework.
  • The consequences of failing to comply with AML laws.

Module 2: Risk Assessment for SACCOs

  • The importance of a risk-based approach to AML.
  • Identifying high-risk members and transactions.
  • The process of a formal institutional risk assessment.
  • The risks associated with different products and services.
  • How to use a risk matrix to guide monitoring efforts.

Module 3: Core Concepts of Transaction Monitoring

  • The difference between a normal transaction and a suspicious one.
  • The importance of a clear and consistent monitoring policy.
  • The three stages of money laundering: placement, layering, and integration.
  • The role of an AML officer or compliance team.
  • The importance of ongoing training for all staff.

Module 4: Identifying Suspicious Patterns and Red Flags

  • Common red flags in member behavior and transactions.
  • High-risk transaction types (e.g., structuring, rapid withdrawals, unusual wire transfers).
  • How to spot suspicious activity related to loans and deposits.
  • The red flags associated with new accounts and member onboarding.
  • How to use data analysis to find hidden patterns.

Module 5: The Suspicious Activity Reporting (SAR) Process

  • The legal obligation to report suspicious activity.
  • The components of a complete and accurate SAR.
  • The importance of a timely and confidential reporting process.
  • The concept of a safe harbor from liability for reporting.
  • The role of an AML officer in filing and managing SARs.

Module 6: Technology in Transaction Monitoring

  • An overview of automated transaction monitoring systems.
  • The benefits of a technology-driven approach.
  • How to select and implement an appropriate system.
  • The challenges of data integration and false positives.
  • The future of AML monitoring with AI and machine learning.

Module 7: Due Diligence and Record-Keeping

  • The importance of member due diligence (CDD/KYC).
  • The process of enhanced due diligence (EDD) for high-risk accounts.
  • The legal requirements for record-keeping and data retention.
  • The role of transaction records in an investigation.
  • Best practices for maintaining accurate and accessible records.

Module 8: Auditing and Internal Controls

  • The purpose of an AML audit.
  • The key components of a strong internal control framework.
  • How to test the effectiveness of your monitoring program.
  • The role of an independent external audit.
  • The importance of a clear remediation plan for any findings.

Module 9: Training and Communication

  • The importance of regular, role-specific training for all staff.
  • How to create an effective training program.
  • The role of communication in fostering a culture of compliance.
  • The importance of leadership buy-in and support.
  • How to use real-world examples to make training impactful.

Module 10: Legal and Reputational Consequences

  • The potential financial penalties for non-compliance.
  • The risk of criminal charges for individuals and the organization.
  • The long-term reputational damage from an AML scandal.
  • How a strong AML program builds member trust and confidence.
  • The strategic value of compliance as a business advantage.

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

Vigilance In Finance: A Course On Aml Transaction Monitoring For Saccos in Saint Kitts and Nevis
Dates Fees Location Action
13/10/2025 - 17/10/2025 $1,750 Mombasa
Physical Class Online Class
20/10/2025 - 24/10/2025 $1,500 Nairobi
Physical Class Online Class
27/10/2025 - 31/10/2025 $1,500 Nairobi
Physical Class Online Class
03/11/2025 - 07/11/2025 $2,900 Kigali
Physical Class Online Class
10/11/2025 - 14/11/2025 $1,500 Nairobi
Physical Class Online Class
17/11/2025 - 21/11/2025 $1,500 Nairobi
Physical Class Online Class
01/12/2025 - 05/12/2025 $1,750 Mombasa
Physical Class Online Class
08/12/2025 - 12/12/2025 $1,500 Nairobi
Physical Class Online Class
05/01/2026 - 09/01/2026 $1,750 Mombasa
Physical Class Online Class
12/01/2026 - 16/01/2026 $1,500 Nairobi
Physical Class Online Class
26/01/2026 - 30/01/2026 $1,500 Nairobi
Physical Class Online Class
02/03/2026 - 06/03/2026 $1,750 Mombasa
Physical Class Online Class
16/03/2026 - 20/03/2026 $1,500 Nairobi
Physical Class Online Class
23/03/2026 - 27/03/2026 $1,500 Nairobi
Physical Class Online Class
06/04/2026 - 10/04/2026 $4,950 Dubai
Physical Class Online Class
13/04/2026 - 17/04/2026 $1,500 Nairobi
Physical Class Online Class
20/04/2026 - 24/04/2026 $1,500 Nairobi
Physical Class Online Class
04/05/2026 - 08/05/2026 $1,750 Mombasa
Physical Class Online Class
18/05/2026 - 22/05/2026 $1,750 Mombasa
Physical Class Online Class
25/05/2026 - 29/05/2026 $1,500 Nairobi
Physical Class Online Class
01/06/2026 - 05/06/2026 $2,900 Kigali
Physical Class Online Class
15/06/2026 - 19/06/2026 $1,500 Nairobi
Physical Class Online Class
22/06/2026 - 26/06/2026 $1,500 Nairobi
Physical Class Online Class