Financial Crime World

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Financial Crime Awareness and Training Programs in Svalbard and Jan Mayen

As part of its commitment to combating financial crime, the government of Svalbard and Jan Mayen has launched a series of anti-money laundering (AML) and financial crime awareness training programs for financial institutions, law enforcement agencies, and other public bodies.

Workshop Details

The first such program, an Anti-Money Laundering and Financial Crime Workshop, was conducted in [location] and attracted a wide range of professionals from the financial services sector, law enforcement, and public bodies. The workshop focused on current and evolving threats to the global financial community, including money laundering techniques, methods, and typologies.

Objectives

  • Detect, Deter, Disrupt: To develop and improve existing skills to detect, deter, and disrupt all types of financial crime
  • Efficiency and Effectiveness: To increase and improve the efficiency and effectiveness of staff capability reporting on financial crime and money laundering
  • Confidence in Application: To apply investigation techniques and knowledge of AML/CFT and financial crime in the workplace with greater confidence

Training Methodology

The workshop employed a strong reputation for student engagement through blended learning techniques, including:

  • Exercises and scenarios designed to enhance understanding of financial crime methodologies and AML typologies
  • Research-based case studies undertaken by attendees to apply their knowledge
  • Dynamic delivery of compelling cases to keep participants engaged

Impact

Participants developed more confidence in their ability to recognize money laundering and other financial crime methods. They also became more familiar with global AML, sanctions, and financial crime regimes, enabling them to implement and develop the firms’ risk-based approach more effectively.

Who Should Attend?

  • Experienced Analysts: Professionals looking to improve their skills in detecting and preventing financial crime
  • Compliance Professionals: Individuals responsible for ensuring compliance with AML regulations
  • AML Investigators: Those tasked with investigating financial crimes and money laundering
  • KYC/CDD/EDD Teams: Onboarding and investigations teams responsible for Know Your Customer, Customer Due Diligence, and Enhanced Due Diligence
  • Fraud and Financial Crime Professionals: Professionals in both public and private sectors working to prevent and investigate financial crimes

Future Initiatives

The government of Svalbard and Jan Mayen will continue to offer such training programs to promote financial crime awareness and prevention. These initiatives are expected to contribute significantly to the island’s efforts to combat money laundering and other financial crimes.

GLOMACS Registration

GLOMACS, the training provider, is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website.

In Association With

The training program was provided in collaboration with Oxford Management Centre, a GLOMACS-Oxford partnership aimed at delivering the best training services and benefits to valued clients. Visit their website for more information.