Course description
Financial Crime – Interpretations and the Practical Application
The FCA has increased its efforts to fight every aspect of financial crime and expects firms to understand where the risks lie and take appropriate steps to combat/react as part of its governance framework.
The session will highlight the real and significant threats and demonstrate how to take a proactive approach, enhancing the policies, processes and procedures firms currently have in place.
It focuses on the day-to-day activity required in regulated firms to ensure that they and their honest customers are protected from any aspects of these crimes. Anti-Money Laundering controls are important to prevent financial crime and complying with regulations is vital for businesses to deter financial crime activity.
Bribery and Corruption are key concepts and Financial Sanctions deployed to deliver public policy objectives have grown in the political agenda.
This interactive one-day course gives a practical account of what’s required, the regulatory landscape for firms and an opportunity to discuss future challenges.
Benefits of attending:
- Create rigorous Policy and Procedures
- How to maintain Awareness and Training
- Completing key Risk Assessments
- The value of clear KYC & CDD
- Relevant Activity & Transaction Monitoring
- Best practice Suspicious Activity Reports and Law Enforcement liaison
- Sanctions and PEP’s protocols
- Maintaining clear Records/MI & Reports
- Reviewing the effectiveness of your Systems & Control
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Suitability - Who should attend?
- Financial crime employees
- All individuals who aspire to a career in financial crime prevention
- Management, compliance professionals whose companies are regulated by the
- Financial Conduct Authority
- Internal audit investigators
Outcome / Qualification etc.
Learning outcomes:
- Summarise the regulatory requirements about Financial Crime, Anti-money laundering, Terrorist Financing, Sanctions and Anti-Bribery and Corruption
- Appreciate critical regulatory principles and specific risks to firms
- Explain practical implications of your organisation's responsibilities
- Develop your current governance and operational oversight framework
Training Course Content
Aspects of Financial Crime
- Legislative and regulatory developments, at national and international levels, on financial crime prevention
- Evaluating the impact of these developments on a firm’s regulatory risk management approach and policy
- Identify and assess the financial crime risks to which your business is exposed
Anti- Money Laundering
- The Money Laundering Reporting Officer’s role and responsibilities including Terrorist Financing and Politically
Exposed Persons
- Illustrate best practice for ongoing monitoring and suspicious activity reporting
- Identify key risks related to record keeping, conducting due diligence and ensuring employees are trained appropriately
Anti-Bribery and Corruption
- The history of the Bribery Act 2010
- The six principles in regards to best practice when adhering to the Bribery Act 2010
- Key decision making and maintaining records
Sanctions and Terrorist Financing
- HM Treasury sanctions list requirements and regulatory interpretation. Plus application
- The sanctions control framework, screening, matching and reviewing the global lists available
- Review best practice and the right legal and regulatory controls
The Regulator Expectations
- Examine current regulatory trends at every level
- Analyse Financial Conduct Authority thematic work
- Review governance oversight, management control and effective risk procedures