Introduction to Financial Crime in Financial Services

Financial Crime focuses on the day-to-day activity required in banks and other regulated firms to ensure that they and their honest customers are protected from any aspects of these crimes. Anti- money laundering (AML) controls are important to prevent financial crime and complying with regulations is vital for businesses to deter financial crime activity. Bribery and corruption are two separate yet interlinked concepts. Financial sanctions used to deliver public policy objectives have risen rapidly up the political agenda in the UK, elsewhere in the European Union and at the United Nations.

The Financial Conduct Authority (FCA) and Regulators across the world state that part of their responsibility is to ensure that the integrity of the markets are maintained. UK financial institutions are responsible for minimising their risk of being used for criminal purposes, particularly the facilitation of money laundering or terrorist financing.

This interactive one-day course gives a practical account of the history, the regulatory requirements for firms and an opportunity to discuss future challenges.

Venue may change up to 14-days before the course start date. Enquire for dates.

Course content

• The Fundamentals of Financial Crime
• Explain the latest legislative and regulatory developments, at national and international levels, on financial crime prevention
• Assess the impact of these developments on a firm’s strategy, regulatory-risk management, and client relations
• Identify and assess the financial crime risks to which your business is exposed.

• Anti- Money Laundering
• Examine the evolution of the Money Laundering Reporting Officer’s (MLRO) roles and responsibilities including Terrorist Financing (TF) Politically Exposed Persons (PEPs), and Proliferation Financing (PF)
• Illustrate best practice for ongoing monitoring, suspicious activity reporting (SARs) and record-keeping.
• Identify key risks related to record keeping, conducting due diligence and ensuring employees are trained appropriately.

• Anti-Bribery and Corruption
• Discuss the provisions and history of the Bribery Act 2010
• Present the Ministry of Justices six principles in regards to best practice when adhering to the Bribery Act 2010
• Demonstrate the importance of decision making and maintaining record keeping during a bribery investigation

• Sanctions and Terrorist Financing
• Discuss the HM Treasury sanctions list and the Joint Money Laundering Steering Group
• Analyse the sanctions control framework including assessing the challenges of the 1st and 2nd line of defence
• Assess best practice for legal and financial risks globally

• Regulatory Expectations
• Examine current regulatory trends locally, at a European level and globally
• Review Financial Conduct Authority Thematic work on Good and Bad practices.
• Assessing governance oversight, management control and effective risk procedures.

Learning outcomes – the course will:

• Summarise the regulatory concerns about Financial Crime, Anti-money laundering, Terrorist Financing and Sanctions
• Describe critical regulatory principles and specific risks to the financial services sector
• Explain the practical implications of your organisations responsibilities
• Challenge your current governance and operational oversight framework.

Delegates may also be interested in attending Market Abuse & Insider Dealing

Management, compliance and administration professionals whose companies are regulated by Financial Conduct Authority (FCA), particularly senior management, legal, compliance, internal audit and those employees at the coalface.