Financial Crime Compliance

Singapore University of Social Sciences

Financial Crime Compliance (FIN573)

Applications Open: 01 May 2023

Applications Close: 15 June 2023

Next Available Intake: July 2023

Course Types: Certificate Course, Modular Graduate Course

Language: English

Duration: 6 months

Fees: $2200 View More Details on Fees

Area of Interest: Compliance

Schemes: Alumni Continuing Education (ACE), Resilience

Funding: To be confirmed

School/Department: School of Business

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This course is funded by SSG and is not eligible for the IBF-STS grant, the Training Allowance Grant, and any other grants or subsidies provided by other Singapore government agencies.

Synopsis

FIN573 Financial Crime Compliance introduces students to the regulations, trends and practical challenges in the space of anti-money laundering, countering the financing of terrorism (AML/CFT) and combating financial crime. It adopts a realistic approach by sharing with students actual industry practices, and challenges, as well as how new business models such as peer-to-peer lending platforms and technology such as artificial intelligence and machine learning impacts financial crime compliance. Through case studies and scenarios a Compliance Officer faces at work and interactions with industry practitioners, students will learn to identify and analyse compliance-related issues, and learn to apply their knowledge in a practical manner to solve problems and/or offer sound advice to stakeholders.

Level: 5
Credit Units: 5
Presentation Pattern: Every July

Topics

Financial Action Task Force (FATF), CDSA, TSOFA and MAS Notice 626
Customer Due Diligence (CDD)
Periodic Review
Name screening
Impact of technology on name screening and global payments and transfers
Correspondent banking
Wire transfer requirements
Transaction Monitoring
Filing of suspicious transaction reports
Impact of technology such as artificial intelligence and machine learning on transaction monitoring
Employee Screening
Performing an enterprise-wide AML risk assessment

Learning Outcome

Compare money laundering and terrorism financing, and apply the key components of financial crime-related regulations as well as the MAS AML/CFT Notice and Guidelines
Design basic due diligence, periodic review, ongoing review, and transaction monitoring work, and question suspicious behavior and/or transactions
Evaluate various AML/CFT-related scenarios and propose feasible solutions, and discuss the practical challenges in AML/CFT work
Assess the impact that new business models and technological advancements have on financial crime compliance
Propose a practical solution for stakeholders in addressing financial crime risks by evaluating AML/CFT practices and applying acquired knowledge and understanding
Formulate compliance solutions that reflect an appropriate balance between business needs and compliance requirements