Managing the Risk of Financial Crime
| Course Code: |
5101 |
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| Dates: |
On a date of your choice |
| Venue: |
Novotel Tower Bridge, Central London |
| Course Fees: |
Available on application |
| CPD Credits: |
12 |
To discuss running this course in-house please contact us on 01327 858 292 or email info@ctp.uk.com
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Manging the Risk of Financial Crime Course Outline
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"Analysis of an institutions threat profile needs to include the identification of fraud threats specific to the products and services provided and, additionally of general factors which make the institution more susceptible to fraud.
It is important to perform this analysis in all sections of the organisation, as each will have its own fraud-susceptible products and services, and each may have its own set of influencing general factors."
FSA Financial Crime and Intelligence Division Newsletter January 2009
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The financial services industry doesn't appear to have been managing the risk of financial crime very successfully as 2008 saw a range of fines for poor controls covering bribery and corruption, anti money laundering and data protection. Compliance Officers, MLRO's and line management need a complete picture of the ways their firm can be attacked and be alert to the effectiveness of the controls they have in place.
This superb, intensive, 2 day programme will provide you with the complete picture on financial crime and the latest developments. It is led by two truly international experts who provide the current risk picture from the internal and external investigator perspective. Their examples, experience and insight will give you an unprecedented and up to date insight into the many ways your firm is vulnerable to financial crime and give you practical ideas and techniques to close those loop holes. Key areas to be covered include:
- Understanding how criminals target different sectors of the financial services industry
- Creating the right ethical environment
- Money Laundering and new ways of making dirty money clean
- Latest techniques used to finance terrorism
- Controlling Fraud & Management Issues
- The Internal Fraudster - the most dangerous threat?
- Vulnerabilities of Financial Systems
Who should attend?
This event will be practical benefit for anyone with responsibility for detecting and reporting on financial crime in their firm, especially if you're a MLRO, Compliance, Internal Audit, or Risk professionals. If you have day-to-day responsibility for operating the systems and controls that should detect financial crime you'll also find this course of immense benefit in recognising and reporting suspicious events.
How delegates will benefit
During this course you'll:
- Update knowledge of the legal framework and the FSA’s approach from real experts
- Take a fresh look at managing and suppressing financial crime
- Understand the current means by which money launderers and terrorists attempt to abuse financial systems for their own ends
- Be alert to the most serious threat – internal fraud
- Recognise the importance of the culture and integrity of staff
- Review and identify weaknesses in current systems
- Identify new products that may be inherently vulnerable to abuse
- Share experience through discussion and analysis of case studies
Training Approach
You will learn by active participation during the seminar through the use of the training materials, seminar manual, group exercises, and practice. Numbers are limited to 15, so that you will be able to receive personal attention.
Workshop Leaders: Peter Ball ACIB
Peter is a Senior Associate with a specialist consultancy. He is widely experienced having spent over 30 years with a major high street bank which included seven years of having responsibility for reducing business losses due to all types of fraudulent activity in the United Kingdom, Europe and Africa. He has designed and presented numerous Workshops on Financial Fraud and Corporate Governance in the UK, Kenya, Uganda, Malawi and Zambia. He was a major contributor to the British Bankers Association “Fraud Managers’ Handbook” and also assisted the BBA in completing the first UK Banking & Financial Services Fraud Survey. Most recently he has undertaken a review of the fraud risks inherent in sub-prime mortgage lending for a leading UK Bank.
Simon Dilloway BSc(Hons), MSc, MSyI
During a 30 year career with the Metropolitan Police, Simon was employed as an NTFIU team leader conducting financial investigations of high priority terrorist targets in conjunction with the British intelligence agencies and the anti-terrorist branch. He was the author of the definitive report on the costing and funding of the London Bombings on 7th July 2005. He has lectured on Terrorist Finance Investigation at courses run by the United Kingdom Asset Recovery Agency (ARA), the Metropolitan Police Counter-Terrorist Command and other UK police forces. He has delivered training to Lebanese and Iraqi personnel in the Middle East and North Africa as part of an ongoing consultancy for the European Commission and the United Nations Office on Drugs and Crime. He is part of a Council of Europe capacity building project on AML and CFT in the Russian Federation.
Programme Outline
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DAY 1
Session 1 - Introduction
To highlight priorities set by the FSA.
- Managing risk of financial crime:
- 2007/2008 - Philip Robinson, Financial Crimes and Intelligence Director
- 2009 - Adair Turner, Chairman FSA
Session 2 - Fraud Management within a Corporate Structure
To understand the development of strategies to manage fraud.
- The Fraud Act 2006
- Constituents of a "major fraud"
- Response to a fraud attack
- Where best to place responsibility for managing fraud
- Powers and responsibilities
- Determining reporting lines
Session 3 – Practical steps to manage culture and ethics
To determine how best to manage the culture and ethics of the organisation
- Maintaining ethical behaviour
- Codes of an ethical culture
- How to raise ethical standards
- Avoidance of reputation risk
- Role of Human Resources
- Role of quality control procedures
- Dissemination of corporate values
Session 4 – Money Laundering
To discuss and understand the principle of money laundering
- Overview of legislation
- Understanding money laundering behaviours and typologies
- Explore and discuss current successful strategies
- Keeping on the right side of the law – procedures to avoid contravention
Session 5 – Financing of Terrorism
To explore and discuss related case studies
- The similarities and differences between money laundering and the financing of terrorism
- Terrorist financing in action
- Explore and discuss recent case studies of Terrorist Finance Investigations
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DAY 2
Session 6 – The Internal Fraudster
- The most serious threat?
- Understanding the temptations
- Limiting the Opportunities
- Maintaining staff honesty and commitment
Session 7 – Controlling Fraud & Management Issues
To estabilish who should have responsibility for controlling fraud and the mechanisms required
- Fraud risk assessment
- The creation of a fraud aware culture
- Management and Staff responsibilities
- Training
- Role of office procedures
- Who discovers fraud?
- Encouraging and protecting the Whistleblower
- Receiving and recording of customer complaints
- Which reports to investigate, and by whom
Involving law enforcement agencies
Session 8 – Vulnerabilities of Financial Systems
Discuss and identify the main areas of concern
- Main areas of concern
- Identification of vulnerabilities in new payment methods
- Study into ‘Second Life’ as the perfect anonymous money transfer mechanism
Session 9 - End of Workshop
- Workshop review
- Open Forum
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Money Back Guarantee
Corporate Training Partnerships offer a unique money back guarantee on all training courses.
We guarantee our training workshops or your money back. If you are attending a CTP event and are not satisfied by lunchtime of the first day, simply turn in your training materials and you will receive a full refund.
Attend one of our courses; then implement and use the strategies that you will learn and if you do not see measurable, tangible results in your performance then we do not deserve to keep your money - we will give you a full refund.
To book or discuss running this course in-house please contact us now on 01327 858 292 or email info@ctp.uk.com
Corporate Training Partnerships - Championing the Compliance Culture
Booking
If you are interested in booking this course, or if you have any questions, please call call us on 01327 858307.