Introduction to the Role of Financial Crime Compliance
Overview
Financial Crime continues to be identified by governments, regulators, and law enforcement agencies as a ubiquitous and complex threat to nations, industries, firms, and individuals. The Compliance Function must understand, react to, and mitigate Financial Crime as it relates to the threat to their own firm.
This course provides participants with an introduction to Financial Crime Compliance, in line with best practice and regulatory and legal requirements.It takes a holistic approach, covering all the main financial crime categories including money laundering, financing of terrorism and proliferation, sanctions, bribery and corruption, and fraud.
During this workshop, a trainer with decades of global experience in the financial services industries will engage participants and challenge them to think through the issues raised through a discursive format.
Who is this for?
This course is aimed at those new to Financial Crime Compliance as well as those with experience who wish to refresh and update their knowledge and skills. Those who would benefit from this course include:
- Compliance professionals
- Senior Managers – both those with specific compliance responsibilities and those wishing to understand the role of Senior Managers in Financial Crime Compliance generally
- Onboarding operations teams
- Internal and external audit, Legal, Finance, Procurement and Risk.
This course is designed to benefit participants from a wide range of financial services businesses, including banking, wealth management, provide banking, retail banking, investment management, family offices, payment service providers and FinTech, law firms, accountancy services providers, gaming services and others.
Learning Outcomes
After attending this course, participants will be able to:
- Identify risks related to serious organised crime gangs, professional money launderers and others, including new and potential regulatory foci and trends.
- Assess the implications of new developments in financial crime compliance regulation and other areas.
- Apply lessons learned from major ongoing and completed financial crime investigations.
- Apply the financial crime compliance cycle, including understanding business and customer risk, policies and procedures, monitoring, and screening, identifying and reporting suspicions and the provision and use of management information.
- Identify and challenge existing money laundering models and typologies.
- Identify, evaluate, and report suspicious activities.
Course Details
Session 1
- Overview of external financial crime challenges, including emerging threats and trends
- Regulation, regulatory issues, and trends
- Key messages from significant and recent enforcement actions
- Assessing inherent financial crime risk from a business perspective, mitigation and achieving acceptable residual risks
Session 2
- Assessing customer money laundering and terrorist and proliferation financing risks: what risk means, applying the risk continuum, mitigation
- Ongoing monitoring
- Relevant risk typologies, red flags and controls
Session 3
- About sanctions, trends, strict liability, penalties, enforcement actions
- Assessing and mitigating sanctions risk factors
- Key components of a sanctions compliance programme
- Understanding bribery and corruption – global legislation, risks
- Identifying and mitigating general and specific ABC risks
- Key components of an ABC compliance programme
Session 4
- Understanding the global and local threat of fraud
- Review of occupational fraud, external fraud (cyber enabled, cyber dependent and manual)
- Identifying and assessing fraud risk
- Preventing and detecting fraud
Delivery
All of CCL Academy’s public courses are delivered virtually using Zoom.
Firms with more than 5 staff to train have the flexibility to deliver training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.
