Diploma Series: Key Financial Crime Risks
Overview
Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) are important areas of Financial Crime, but it is important not to neglect other areas, such a Sanctions, Bribery, Corruption and Fraud.
This module examines these other types of Financial Crime and leads participants through Fraud and Bribery & Corruption risk assessments. Sanctions are not ignored, as these have been shown to attract severe enforcement action from regulators in many countries of the world, most notably the United States.
This module is a part of our Diploma in Compliance, AML & Financial Crime and can be taken as a standalone course or as part of the whole Diploma Series which consists of four modules totalling 24 x 3-hour sessions of interactive workshop learning, interspersed by examinations and assignments.
Who is this for?
This module has been developed for Compliance and Financial Crime professionals with between one and five years’ experience in Compliance or Financial Crime, but exceptions may be made in respect of applicants who have significant regulatory experience or similar experience in Legal, Audit, Risk or other related functions.
Learning Outcomes
After completing this module, participants will be able to:
- Apply techniques to avoid breaching Sanctions
- Assess the risk of Fraud in their institution
- Assess the risk of Bribery and Corruption in their institution
- Put controls in place to reduce the risk posed by these Financial Crimes
Course Details
Trade and Economic Sanctions
Session 1
- Why do financial institutions have to devote resources to ensure Compliance with trade and economic Sanctions regulations and laws?
- How financial institutions breach relevant trade and economic Sanctions regulations
- The consequences of breaches of relevant trade and economic Sanctions regimes
Session 2
- Review of specific Sanctioned regimes
- What we can learn from reported enforcement actions
Session 3
- How financial institutions can reduce the risk of non-Compliance with relevant Sanctions
- What to do when you may be the subject of an investigation
- The practicalities of dealing with an investigation
Fraud Prevention
Session 4
- The impact of Fraud on an institution
- How Fraud can arise
Session 5
- Controls against Fraud
- Can you monitor to detect Fraud?
- The importance of whistleblowing procedures
- Developing a Fraud Risk Assessment
Session 6
- Group exercise: Fraud Risk Assessment
- Anti-Bribery and Corruption
Session 7
- How to assess your Bribery and Corruption Risk
- The importance of your Code of Ethics
- Controls over suppliers - to centralise or not to centralise?
Session 8
- Gifts, entertaining and conflict registers
- Case studies: what to do in difficult jurisdictions
- How to develop an ABC risk assessment
Session 9
- Group Exercise feedback: ABC Risk Assessments
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. Each course includes 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, either to the whole group or privately to the trainer.
Additional Benefits:
- Recording: in addition to the live event, a recording of the public course will be available to the participant for one month.
- On-going Q&A: 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.
