Financial Crime World

Financial Crime Awareness and Training Programs in Svalbard and Jan Mayen

A recent surge in financial crimes has prompted regulatory bodies to take a closer look at the compliance practices of institutions operating in the region. In an effort to address this growing concern, a comprehensive training program has been launched in Svalbard and Jan Mayen to educate employees on the key areas of concern related to money laundering and counter-terrorist finance.

Identifying Key Areas of Concern

The Advanced Financial Crime Compliance training course is designed to provide delegates with a deeper understanding of the challenges associated with financial crime compliance. Through a combination of instructor-led case studies, exercises, and question-and-answer sessions, participants will gain valuable insights into the methodologies of money laundering and terrorist financing.

Key Offences

  • Money Laundering
  • Terrorist Financing
  • Financial Crime

Risks Associated with Working in AML and Financial Crime Areas

  • Understanding the risks associated with working in AML and financial crime areas is crucial for organizations to prevent and detect financial crimes.
  • Delegates will learn new skills and techniques in investigations.

Training Methodology

The training course is designed for financial institutions, regulators, and law enforcement agencies, utilizing case studies, exercises, and discussion sessions to provide an unparalleled interactive scenario-driven experience. The program offers both classroom and virtual-based options, catering to the diverse needs of delegates.

Organizational Impact

By participating in this training program, organizations can expect to see a significant improvement in staff’s ability to identify key methods of money laundering processes. Delegates will become more vigilant to the evolving complexities and risks of financial crime, sharing experiences and learning new skills and knowledge to benefit their colleagues.

Personal Impact

Upon completion of the Advanced Financial Crime Compliance training course, delegates will receive a broad-based knowledge of the subject, enabling them to:

  • Enhance their ability to gain greater awareness, knowledge, and investigation experience
  • Develop and hone their skills in analysis, critical thinking, and assessments
  • Gain confidence in recognizing current typologies and indicators of money laundering and financial crime

Who Should Attend

This training program is suitable for a wide range of professionals, including:

  • Financial Crime Analysts
  • Transaction Monitoring Professionals
  • AML and Financial Crime Investigations Professionals
  • Compliance Professionals
  • Financial Investigators
  • Fraud Investigators

Training Schedule

The Advanced Financial Crime Compliance training course will be held over five days, covering the following topics:

Day 1: Financial Crime Compliance

  • Financial Compliance Analysis and Assessment
  • Trade-based Money Laundering
  • Review of Compliance Case Studies
  • Emerging Threats in Money Laundering
  • Financial Intelligence Exercise and Debrief

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
  • The Roles and Responsibilities of FATF

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.
  • Debrief of the Programme

Endorsed Education Provider

GLOMACS 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. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

In association with

Oxford Management Centre, a GLOMACS-Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients. Visit website for more information.