Financial Crime World

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Heard Island and McDonald Islands Launches Advanced Financial Crime Compliance Training

In a bid to strengthen compliance and prevent financial crimes, Heard Island and McDonald Islands has launched an Advanced Financial Crime Compliance training course for its financial professionals. The comprehensive program aims to equip participants with the skills and knowledge necessary to identify and mitigate the risks associated with money laundering and terrorist financing.

Course Objectives

Upon completion of the training program, participants will be able to:

  • Understand the key offenses of money laundering, terrorist financing, and financial crime
  • Review and analyze case studies through in-depth discussions with instructors
  • Identify and mitigate the risks associated with money laundering and terrorist financing
  • Apply current knowledge and experience to exercises provided by instructors
  • Learn and develop new skills and techniques in investigations

Course Highlights

The training program will cover various topics, including:

  • The challenges of financial crime compliance
  • Methodologies of money laundering and terrorist financing
  • Identifying key areas of concern related to global corruption
  • Legislation and regulations impacting financial crime professionals

Topics Covered

Day 1: Financial Crime Compliance

  • Financial compliance analysis and assessment
  • Trade-based money laundering
  • Review of compliance case studies
  • Emerging threats in money laundering

Day 2: The Need for Effective Compliance and Due Diligence

  • Sanctions and sanctions busting
  • Case study on round-tripping fraud
  • AML exercise
  • The principles of the risk-based approach

Day 3: The Challenges of Compliance Investigations

  • State-sponsored terrorism, a study into Hezbollah
  • Professional money launderers and gateways (lawyers, notaries, accountants)
  • Cyber threat and insider actors
  • Money value transfer business and MSB’s

Day 4: A Study in the Key Indicators of ML/Financial Crime

  • CFT exercise
  • Proliferation and sanctions breaches
  • Extremism as seen in banking data

Day 5: Conclusion of all exercises and debrief

  • How to investigate PEPS and high-net-worth beneficial owners?
  • Cyber-crime typologies
  • PEP exercise establishing true ownership of opaque structures and entities.

Target Audience

This Advanced Financial Crime Compliance training course is suitable for a wide range of professionals working within financial institutions, law enforcement agencies, analytical, and tech companies.

Course Schedule

The five-day training program will be held on the following dates:

  • Day 1: Financial Crime Compliance
  • Day 2: The Need for Effective Compliance and Due Diligence
  • Day 3: The Challenges of Compliance Investigations
  • Day 4: A Study in the Key Indicators of ML/Financial Crime
  • Day 5: Conclusion of all exercises and debrief

Certification

The training program is endorsed by GLOMACS, a leading provider of management development programs. Upon completion, participants will receive a certificate of attendance and 35 hours of Continuing Professional Education (CPE) credits.