Financial Crime : Risk for Banks

The effort against financial crime in the private and public sectors faces growing challenges. The course offers to build competence against financial crime among learners.

The course is structured in seven modules, with each module catering to a separate financial crime domain.

Introduction

• About the course

• Brief Objectives

• Relevance

Module I

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

Module II

Money Laundering

__ The Financial Action Task Force

__ Money Laundering methods and stages

__ Indicators of Money Laundering

__ Role of Third-Party Entities

__ Terrorist Financing *

Module III

Understanding and preventing frauds

__ Nature and types of Frauds

__ Loan Frauds

__ Internal Frauds

__ Red Flags

__ Detection and Reporting

Module IV

Anti-corruption compliance and enforcement

__ Worldview on corruption

__ Forms and methods of corruption

__ Anti-Corruption Organisations

__ Legal framework to Combat corruption

Module V

Trade-Based Money Laundering (TBML)

__ World trade and money movement

__ Wire Transfers

__ Hawala Transactions

__ Indicators of TBML

Module VI

Compliance programs and control

• AML Compliance

__ OFAC

• Sanctions Compliance

• Monitoring and Reporting (STR)

__ Beneficial owners

• KYC and KYE

Module VII

Cyber Security

• Recognising and detecting cyber financial crime

• Social Engineering

• Network Security Standards and Industry Best Practices

• Responding to a cyber incident

Data privacy laws and regulations