Singapore University of Social Sciences

Financial Crime Compliance

Financial Crime Compliance (FIN573)

Applications Open: 01 April 2020

Applications Close: 31 May 2020

Next Available Intake: July 2020

Course Types: Certificate Course, Modular Graduate Course

Language: English

Duration: 6 months

Fees: $2200

Area of Interest: Compliance

Schemes: Alumni Continuing Education + (ACE+), Lifelong Learning Credit (L2C), Resilience 2020

Funding: SkillsFuture

School/Department: School of Business


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.


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

  • Differentiate between money laundering and terrorism financing
  • Evaluate the application of the key components of financial crime-related regulations and the MAS AML/CFT Notice and Guidelines
  • Construct basic due diligence, periodic review, ongoing review and transaction monitoring work
  • Question suspicious behavior and/or transactions
  • Evaluate various AML/CFT-related scenarios and propose feasible solutions
  • Appraise the practical challenges in AML/CFT work
  • Evaluate the impact that new business models and technological advancements have on financial crime compliance
  • Identify and analyse financial crime-related risks in various scenarios
  • Evaluate AML/CFT practices and apply acquired knowledge and understanding to propose a practical solution for stakeholders in addressing financial crime risks
  • Assess and develop compliance solutions that reflect an appropriate balance between business needs and compliance requirements
  • Demonstrate ability to work within a team
  • Demonstrate clear communication and writing skills
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