Singapore University of Social Sciences

Financial Crime Compliance

Financial Crime Compliance (FIN573)


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
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