Financial Crime: Risk for Banks
Overview:
Introduction
The fight against financial crime is becoming more difficult in both the public and commercial sectors. The goal of the course is to increase proficiency in preventing financial crime.
Course Objectives
At the end of this course the participants will be able to:
- Acquire skills and knowledge in the financial crime field.
- Validate his or her skills and earn an objective, verifiable credential of competence
- Advance their careers and give them an advanced level of professional skill.
- Manage organizational responsibilities
Targeted Audience
- Financial crime prevention employees
- Fraud employees
- All individuals engaged in financial services and who aspire to a career in financial crime or fraud prevention
Course Outline
Unit 1: Financial crime overview and threats to the global economy
- Definition and Nature of Financial Crime
- Financial Crime Methods and Vehicles
- Use of Technology in Financial Crime
Unit 2: Money Laundering
- The Financial Action Task Force
- Money Laundering methods and stages
- Indicators of Money Laundering
- Role of Third-Party Entities
- Terrorist Financing
Unit 3: Understanding and preventing frauds
- Nature and types of Frauds
- Loan Frauds
- Internal Frauds
- Red Flags
- Detection and Reporting
Unit 4: Anti-corruption compliance and enforcement
- Worldview on corruption
- Forms and methods of corruption
- Anti-Corruption Organisations
- Legal framework to Combat corruption
Unit 5: Trade-Based Money Laundering (TBML)
- World trade and money movement
- Wire Transfers
- Hawala Transactions
- Indicators of TBML
Unit 6: Compliance programs and control
- AML Compliance
- OFAC
- Sanctions Compliance
- Monitoring and Reporting (STR)
- Beneficial owners
- KYC and KYE
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