AML/CFT Training in Montenegrin
Online Training | Approximately 1 Hour | Certificate Included
A comprehensive, practical, and legally aligned online training course in Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT), designed for obliged entities under Montenegro’s Law on the Prevention of Money Laundering and Terrorist Financing and their employees.
The course explains statutory obligations in a clear and accessible manner and equips participants with the knowledge required to act correctly, responsibly, and in compliance with applicable requirements in their daily work.
The training is divided into structured modules designed specifically for online learning, providing practical explanations of the obligations, responsibilities, and procedures that employees need to understand.
Course Content
Module 1: Fundamentals of the AML/CFT System and Obliged Entities
Key concepts relating to money laundering and terrorist financing, the three stages of money laundering, predicate criminal offences, the purpose of the AML/CFT system, an overview of obliged entities under the Law, and the role of employees in preventing financial crime.
Module 2: Risk-Based Approach
Risk assessment at the level of the obliged entity and the individual customer, key risk factors, geographical exposure, products, services, transactions, delivery channels, and circumstances that may affect the customer’s risk level.
Module 3: Customer Due Diligence and Ongoing Monitoring – CDD
When CDD measures must be applied, identification and verification of natural and legal persons, verification of representatives’ authority, identification of beneficial owners, the purpose and nature of the business relationship, source of funds, and expected customer activity.
Module 4: PEPs, Enhanced and Simplified Due Diligence Measures
Identification of politically exposed persons, their family members and close associates, additional obligations relating to PEP relationships, establishing the source of funds and source of wealth, enhanced measures in higher-risk situations, and the conditions for applying simplified due diligence.
Module 5: Ongoing Monitoring and Suspicion Indicators
Continuous monitoring of business relationships, updating CDD information and risk assessments, using general, sector-specific, and internal lists of indicators, and identifying deviations from a customer’s expected activity.
Module 6: Suspicion, Internal Escalation, the FIU, and the Prohibition of Tipping Off
Identification of suspicious, linked, complex, and unusual transactions, documentation of facts and completed checks, internal escalation, the role of the AML/CFT compliance officer, reporting information to the Financial Intelligence Unit, and the prohibition of informing the customer.
Module 7: International Restrictive Measures – Basic Framework
The main types of restrictive measures, financial prohibitions and asset freezes, checking applicable measures and sanctions lists, responding to a potential match, and distinguishing between a sanctions match and increased AML/CFT risk.
Module 8: Internal Systems, Records, Data, and Employee Training
Internal policies, procedures, responsibilities, and controls; the role of the AML/CFT compliance officer and deputy; record keeping; documentation of actions taken; data protection and retention; and regular professional training of employees.
Module 9: Practical Application of the Complete AML/CFT Process
Connecting all stages of the process—from customer identification and risk assessment to ongoing monitoring, identification of deviations, documentation of checks, and internal escalation.
How the Training Works
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Duration: Approximately 1 hour
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Format: Online, self-paced training that participants can complete at a time that suits them
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Access: Available through the AML Academy online platform
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Completion: Mandatory final knowledge assessment
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Certificate: After successfully completing the test, participants receive a Certificate of Completion issued by AML Academy
- Language: Montenegrin
Certificate of Completion
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Issued in the name of the individual participant
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Valid for one year from the date of issue
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May serve as evidence that the employee has completed professional AML/CFT training
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Available for download after successful completion of the final knowledge assessment
Who Is This Training For?
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Obliged entities under Montenegro’s Law on the Prevention of Money Laundering and Terrorist Financing
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Employees working with customers, transactions, or documentation
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AML/CFT compliance officers and their deputies
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Managers and responsible persons within obliged entities
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Employees in the financial and non-financial sectors
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Anyone wishing to refresh or improve their fundamental AML/CFT knowledge
Lecturer
Bojan Ćulafić, CAMS, CCAS
Director of Valorem Private Office
The lecturer has practical experience and professional expertise in anti-money laundering and counter-terrorist financing, risk management, and regulatory compliance in Montenegro.
Important Legal Provisions Relating to the Training
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Delivery and Acceptance of the Training: Access to the training will be sent to the email address provided at the time of purchase within the timeframe specified during the purchasing process. By accepting access, you acknowledge that the digital content has been properly delivered.
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All Sales Are Final: Due to the nature of digital content, all purchases of online training courses are final and non-refundable.
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Copyright: The training content is protected by copyright law. Copying, recording, distributing, publicly displaying, or otherwise using the content without the copyright holder’s express written consent is strictly prohibited.
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Content Updates: The training provider may send participants updated versions of the materials when required due to legislative changes, regulatory requirements, or content improvements.
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Internal Procedures of Obliged Entities: The training presents a general legal framework and does not replace the internal policies, procedures, sector-specific guidance, or legal advice tailored to an individual obliged entity.
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Changes to Regulations: Laws, secondary legislation, restrictive measures, and dynamic lists may change. Applicable official sources should therefore be checked before making a specific decision.
For additional questions regarding the training, access to the platform, or the use of digital materials, please contact us through our online support form or by email at:
