Financial Crime Compliance | CET Courses

Singapore University of Social Sciences

Financial Crime Compliance (FIN573)

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

Part-time Programmes / CET Courses

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 https://www.ibf.org.sg/home/for-individuals/ibf-certification/why-be-ibf-certified .