Singapore University of Social Sciences

Financial Crime Compliance

Financial Crime Compliance (FIN573)

Applications Open: 01 May 2024

Applications Close: 15 June 2024

Next Available Intake: July 2024

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)

Funding: To be confirmed

School/Department: School of Business

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


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


  • 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

IBF Accreditation
This course has been accredited under the IBF Standards and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

Students who successfully complete the course progress towards obtaining the IBF Qualified (Level 1) Certification.

About IBF Certification
This course addresses the following Technical Skills and Competencies (TSCs) and proficiency level:

  • Customer Acceptance Checking and Onboarding (Proficiency Level 3)
  • Monitoring and Surveillance (Proficiency Level 3)
  • Stakeholder Management (Proficiency Level 3)
  • Policy Implementation and Revision (Proficiency Level 3)
  • Regulatory and Legal Advisory (Proficiency Level 3)
  • Regulatory Compliance (Proficiency Level 3)
  • Industry Products: Asset Management (Proficiency Level 2)
  • Industry Products: Capital Markets (Proficiency Level 2)
  • Industry Products: Corporate Banking (Proficiency Level 2)
  • Industry Products: Financial Markets (Proficiency Level 2)

Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services.

You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

Find out more about IBF certification and the application process on .
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