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Podcast Location:
Download it here [file size: 28.2 MB]
Categories:
Banking and Financial Services
Fraud, Financial Crime & Anti-Money Laundering
CPD Points:
Up to 1 point. details »

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Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at those with a compliance function in or advising financial services firms. It aims to set out the risk and compliance issues for such organisations when dealing with money laundering. Specifically, this podcast considers what has become known as the ‘Know Your Customer’ approach to risk compliance and profiling. How financial services firms go about transaction monitoring and the consent regime following the making of a Suspicious Activity Reports. This podcast also looks at the impact of international anti-money laundering measures on financial services firms.

Outcomes:
After completing the course you will:
  • Understand where financial services firms have a particular vulnerability over other economic entities when it comes to money-laundering;
  • Understand what is meant by a ‘Know Your Customer’ approach to issues like money laundering;
  • Be aware of the guidance available on money laundering, terrorist funding and other financial crime topics and the status of this guidance;
  • Know if and whether it is appropriate to screen or profile customers as part of an anti-money laundering strategy;
  • Know the extent to which monitoring of money laundering is human or machine based;
  • Know when it will be appropriate to make a Suspicious Activity Report;
  • Know the consequences of making an SAR;
  • Know how the UK’s anti-money laundering regime sits within an international context of other similar measures targeted at financial services firms.
Level:
General Interest Difficulty: 2 of 5
Classification:
Legal Principles
Practical Guide
Sources and References:
Tags:

In this podcast the Head of Compliance at a leading financial services firm discusses the compliance risks for firms offering financial services where money laundering is suspected.

Podcast added: 28/11/2011

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