Learning objectives
- Recognise various types of financial crime - eg fraud, market abuse, money laundering, terrorist financing, bribery, corruption and tax evasion
- Identify what steps you should take to help prevent financial crime
- Recognise when and how to seek advice and report concerns
Introduction
What is Financial Crime?
- What is Financial Crime Prevention?
Customers with dishonest intentions
- Your legal responsibility
Scenario 1: A couple break up
- The security questionnaire
- Fishing for information
- Creating a joint account
- Authorisation form
- Other reasons for prosecution
- Social engineering
Scenario 2: A politician moves money
- Government official
- Further investigations
- Obtaining further information
- Reporting
- Dealing with the customer after the report
- Any other infringements?
Scenario 3: Gifts, hospitality and procurement
Scenario 4: Unusual customers
- An increase in savings
- The money transfers
Scenario 5: Alexa's tip
- A useful tip
- Dealing with inside information
Scenario 6: Fake invoices
- What do you think?
- The Fraud Triangle
- Repercussions of fraudulent activity
To recap...
Summary
Affirmation
Assessment
Economic Sanctions
Violation of sanctions issued by the UN, the US and the EU which place restrictions on payments and other financial transactions can result in fines as well as criminal charges.