Overview

This comprehensive course on Financial Crime Compliance and Risk Management is designed to equip professionals with the knowledge and skills necessary to navigate the complex landscape of financial crime. The course covers the following modules:

Module A: Conceptual Issues and Terminology
Understand the fundamentals of financial crime, including its nature and key stakeholders. Explore topics such as money laundering, terrorist financing, sanctions, bribery, and corruption. Learn about predicate offenses, reporting organizations, investigative agencies, and the stages of money laundering. Get acquainted with the Bangladesh Financial Intelligence Unit (BFIU), FATF, APG, Egmont Group, and national taskforces on AML-CFT, along with relevant penalties.

Module B: Financial Crime in the Key Functional Areas of Banking
Delve into the types of financial crimes that occur within the banking sector, including general banking, credit operations, trade services, and foreign exchange. Examine internal control and compliance (ICC) functions of banks in relation to financial crime.

Module C: Financial Crime Risk Assessment
Gain insights into ML/TF risk assessment guidelines for the banking sector. Learn to identify and assess trade-based money laundering (TBML) and understand the guidelines for TBML in Bangladesh. Assess financial crime risks at enterprise-wide, business, sector, and product levels, and explore geographic risks, including FATF blacklists and gray-lists.

Module D: Prevention, Detection, and Reporting
Master the processes of prevention, detection, and reporting of financial crimes. Topics include customer due diligence (CDD), enhanced due diligence (EDD), periodic and ad-hoc CDD/EDD reviews, name screening, transaction monitoring, and suspicious activity reporting (SAR). Understand self-assessment, cash transaction reporting (CTR), and protections for good faith reporting.

Module E: Sanctions, Anti-Bribery, and Corruption
Explore various types of economic sanctions, including US and UN sanctions, and the Bangladesh list. Understand the provisions of the Anti-Corruption Commission Act, 2004, and penal code provisions on bribery and corruption. Learn about bribery and corruption through employment, gifts, procurement, sponsorship, and donations.

Module F: Financial Crime Control (FCC) for the New Economy
Examine the FCC risks associated with new services and technologies, including fintech products, mobile financial services (MFS), e-wallets, transactional platforms, e-commerce sites, and marketplaces. Learn about money laundering risks in the new payment systems.

Module G: Compliance
Understand the concepts of compliance and compliance risk, and learn to identify and manage various sub-risks. Explore compliance policies and governance, regulatory compliance, the independence of compliance functions, and the roles of employees and senior management in maintaining compliance.

References:

1. Sébastien Billot , Financial Crime Compliance
2. Kevin Sullivan Anti-Money Laundering in a Nutshell
3. John A. Cassara Money Laundering and Illicit Financial Flows
4. Jonathan E. Turner Money Laundering Prevention
5. Nkechikwu Valerie Azinge-Egbiri, Regulating and Combating Money Laundering and Terrorist Financing
6. Patrick Kabamba, Know Your Customer (KYC) Policy
7. Jonathan E. Turner, Policing Financial Crime: Intelligence Strategy Implementation
8. Money Laundering & Terrorist Financing Risk Management Guidelines, Bangladesh Bank
9. Guidance notes on AML and CFT

This course is essential for professionals seeking to enhance their expertise in financial crime compliance and risk management, ensuring they are well-prepared to tackle the challenges of the modern financial landscape.