ANFI study plan

ANFI · Give each week a clear focus.

8 weeks · About 6 hours per week

Week 1

Regulatory Framework and Compliance

Map the ANFI regulatory framework by listing the primary statutes, regulators, and supervisory bodies and their respective mandates
Define key compliance terms (e.g., AML, KYC, CDD, EDD, SAR, CTR) and explain their statutory basis
Outline the core obligations of financial institutions under anti-money laundering and counter-terrorist financing regulations
Identify the penalties and enforcement mechanisms for non-compliance

Create a one-page regulatory framework summary sheet with definitions and obligations

Week 2

Describe the customer due diligence (CDD) process from onboarding to ongoing monitoring
Differentiate between standard, simplified, and enhanced due diligence and when each applies
Explain beneficial ownership identification and verification requirements
List the types of identification documents and verification methods acceptable for individuals and entities

Draft a step-by-step CDD onboarding checklist covering individual and corporate clients

Week 3

Identify red flags and suspicious activity indicators across common financial products and services
Explain the process for escalating and reporting suspicious transactions internally and to the relevant authority
Summarize the three stages of money laundering and typical typologies
Describe the role of the compliance officer and the importance of a risk-based approach

Compile a red flags quick-reference guide with at least 10 indicators and corresponding actions

Week 4

Integrate regulatory, onboarding, and AML concepts by analyzing case scenarios that span multiple domains
Practice applying CDD and EDD procedures to complex client structures
Evaluate suspicious activity scenarios and determine appropriate reporting obligations
Review and reinforce weak areas identified through practice questions

Complete a 30-question mixed practice test with a score of at least 80% and review all incorrect answers

Week 5

Categorize the main financial products and services (deposits, loans, investments, insurance, payments) and their key features
Explain the risk profiles and compliance considerations for each product category
Describe the role of products in money laundering and terrorist financing and corresponding controls
Match customer types to suitable products and identify potential suitability or compliance issues

Create a product-risk matrix linking products to inherent risks and required controls

Week 6

Conduct a risk assessment for a hypothetical client or transaction using a risk-based approach
Identify and weigh risk factors (customer, product, geography, channel) in assigning risk ratings
Outline the elements of an effective AML/CFT compliance program, including policies, training, and monitoring
Explain how to document and update risk assessments and the role of internal controls

Produce a written risk assessment for a sample client, including risk rating and rationale

Week 7

Summarize the professional ethics and conduct standards expected of compliance professionals, including confidentiality and conflict of interest
Describe recordkeeping requirements for CDD, transactions, and reports, including retention periods and data protection
Explain the reporting obligations and timelines for SARs, CTRs, and other regulatory reports
Apply ethical decision-making frameworks to scenarios involving pressure to bypass procedures

Develop a records retention and reporting timeline chart with key deadlines and ethical guidelines

Week 8

Synthesize knowledge across all domains by completing full-length practice exams under timed conditions
Review and reinforce weak areas identified from practice exam results
Memorize key definitions, thresholds, and regulatory timeframes
Practice answering scenario-based questions using a structured approach

Score at least 85% on a full-length practice exam and create a final one-page summary of key takeaways

Week 2: Successfully explain the CDD process and differentiate between CDD, EDD, and simplified due diligence in a self-quiz with 90% accuracy

Week 4: Achieve at least 80% on the mixed practice test covering domains 1-3 and demonstrate understanding of integrated scenarios

Week 6: Complete a risk assessment for a sample client that correctly identifies and rates risks, with justification

Week 8: Score at least 85% on a full-length practice exam and pass a final review of all key concepts