Financial Crime World

Dutch Financiers Get Ready to Combat Financial Crime: New Training Program Available in the Netherlands

Introduction

In the financial sector, every employee plays a crucial role in the fight against economic crime. Compliance with relevant laws and regulations is essential for preventing not only financial damage but also reputational harm. In accordance with the Money Laundering and Terrorist Financing Prevention Act (Wwft), a new Financial Economic Crime Awareness training program is now available in the Netherlands.

Target Audience and Prerequisites

  • This training is designed for employees working in the financial sector, regardless of their daily responsibilities related to client contact or Know Your Customer (KYC) activities.
  • No specific knowledge is required, but participants should have a basic understanding of Wwft provisions and financial services.

Course Overview

This training program covers various forms of economic crime, including:

  • Money laundering
  • Terrorist financing
  • Fraud
  • Tax evasion
  • Corruption
  • Sanctions

During the course, participants will learn:

  1. Recognition and detection: Techniques for identifying and reporting suspicious activities in practice
  2. Understanding legal requirements: Regulations related to the prevention of financial crime
  3. Appropriate actions: Procedures for responding to identified criminal activities

A baseline measurement will determine if participants can take the test immediately or if they need to focus on the theory first.

Key Objectives

Upon completion of the training, participants will:

  1. Understand financial institutions’ legal obligations to prevent financial crime
  2. Recognize red flags that may indicate economic crime
  3. Know how to report and act accordingly
  4. Be aware of current developments in fraud prevention

Flexible and Accessible

This training program can be completed through HollandBusiness.nl’s online learning environment, allowing flexibility for participants to study at their own pace and convenience. The course takes between one and two hours to finish, depending on previous knowledge.

Customization

  • The training can be tailored to specific organizations by adding personalized cases and red flags.
  • Employers can monitor participants’ progress through the learning environment’s dashboard.

Why Take This Training?

  • Practical identification techniques: Learn techniques to identify various forms of economic crime.
  • Content developed by experts: Content developed by Financial Law and Regulation specialists from Projective Group.
  • Study at your own pace: Flexible online learning environment.

FAQ

Organizations and individuals can register for the program through the website. Detailed information about reporting, Wwft compliance, and blended learning programs is available in the FAQs.

For more information about the Financial Economic Crime Awareness training program or to schedule a personalized consultation, interested parties are encouraged to contact the Ministry of Compliance team.