Financial Crime : Risk for Banks

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