European Institute of Management and Finance
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Financial crime is a well-known and widespread problem that impacts brand value and reputation, goodwill, and revenue of many organizations. In addition to the risk of losses from financial crime itself, companies also face spiraling costs in related areas.
Of the many vulnerabilities and threats to the financial services sector, financial crime risk has emerged as a pervasive, yet widely misunderstood category of risk. As consumers, governments, and the financial industry have gained familiarity with various forms of financial crime, financial services organizations have seen that the underlying risk of financial crimes not only includes the direct action taken by criminals, but also includes the impact of deterrence, detection, and resolution on the organization and its customers.
Financial services organizations have the difficult task of effectively identifying the greatest risks to themselves and to their customers, protecting both parties against unnecessary risks and satisfying regulatory requirements for greater transparency, awareness, and consolidation of information across the organization.
This interactive and engaging programme aims to help participants understand the financial crime regulatory framework; and develop a comprehension on the management of financial crime risks.
Part 1: Money Laundering, Terrorist Financing and the Standards Required of Firms
- The Concept of Money Laundering and Terrorist Financing
- Stages of Money Laundering
- Role of International Agencies
- Predicate Offences in Financial Crime
- Financial Firms and Crime
- Misstatement of Financial Circumstances
- Tax Evasion and Tax Avoidance
- Dual Criminality, Extradition and Mutual Legal Assistance
Part 2: Practical Implications
- Impact of Financial Crime on Firms
- Direct Impacts of Financial Crime
- Firms’ Responsibilities for Financial Crime Prevention
- Anti-Money Laundering (AML)
- Combating Financial Crime (CFC)
- Identifying Money Laundering
- Prevention of Money Laundering
- Sanctions Checking and Politically Exposed Persons (PEPs)
- Part 3: Policies, Procedures and Controls Required of Firms
- The Risks Posed to a Firm
- Understanding the Controls
- Effective Training
- Effective Suspicious Activity or Transaction Reporting
Who is this course for?
This course is ideal for anyone wishing to know more about Financial Crime Risk Management, and the regulatory requirements for investment firms, insurance and banking institutions. It is also suitable to professionals pursuing regulatory CPD in Financial Regulation such as the FCA. It will be particularly suitable to:
- Compliance professionals
- Corporate executives (including CEOs and CFOs)
- Risk executives
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