Duration: 3 days
Location: Dubai, UAE
Upcoming Dates: 09 - 11 Dec 2019
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....
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 can be taken as a standalone course or as part of the whole Diploma in Compliance, AML & Financial Crime. The Diploma consists of four modules totalling twelve days 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.
Trade and Economic Sanctions
- 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
- Review of specific sanctioned regimes
- What we can learn from reported enforcement actions
- 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
- The impact of fraud on an institution
- How fraud can arise
- Controls against fraud
- Can you monitor to detect fraud?
- The importance of whistleblowing procedures
- Developing a fraud risk assessment
Anti-Bribery and Corruption
- How to assess your bribery and corruption risk
- The importance of your Code of Ethics
- Controls over suppliers - to centralise or not to centralise?
- Gifts, entertaining and conflict registers
- Case studies: what to do in difficult jurisdictions
- How to develop an ABC risk assessment
Participants will leave this module understanding how 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