Financial Crime and Investigations

About the Course

This Financial Crime and Investigations training course covers the major types of financial crime, their methodologies, and how they may be identified. It also teaches delegates the best practices in the investigative process and how businesses apply these. Likewise, It will break down crime and enable delegates to track back each from the geographical area, business area, and individuals who might have been involved in its conception. There will be a focus on facilitators of financial crime, how these can be identified and how other 3rd parties can intrude in the process. This training course will give the delegates an insight into the role of 3rd parties, the difficulties in investigating them, and some practical solutions.

Examine cybercrime and look at the difficulties businesses face when facing this type of issue – both internal and external attacks will be observed. We will also look at crime issues thrown up by the recent Pandemic and the rise in remote working. In conclusion, this will enable each delegate to examine their own investigative processes against a ‘best-practice’ template, look at where there might be internal blocks to efficient investigations, identify the skills need to make investigations effective and understand the importance of data & how to apply it. Every delegate will be able to take away an ‘action plan’ to help them move forward in applying their skills learned.

Core Objectives

The delegates will achieve the following objectives:

• Define the major types of financial crime
• Identify the major types of financial crime in their everyday roles
• Understand the chart of the process of the crime – from inception to discovery
• Create a ‘world class’ investigative process
• Know how to use practical investigation tools 
• Learn how to close an investigation satisfactorily

Training Approach

The training course will be case-study based and fully interactive, with delegates examining real-life examples of crimes, how they were investigated, and the outcomes.

The Attendees

This training course is suitable for all finance professionals in the first line of defense or those in supervisory roles.

Likewise, it will be valuable to the professionals but not limited to the following:

• Compliance Staff
• Internal Audit Staff
• Client Facing Staff
• Managers & Supervisors
• Regulators
• IT & Software Providers
• Consultants and those selling to Financial Institutions

Daily Discussion

DAY ONE: FINANCIAL CRIME – DEFINITIONS AND CASES

• Fraud
• Bribery
• Predicate Crimes
• Money Laundering
• Cyber Crimes
• Crimes arising through Operational Risk
• The A-Z of other Financial Crimes

DAY TWO: FRAUD & BRIBERY

• The Indicia of Fraud
• The Psychology of Fraudsters
• Major Financial Frauds: Commonalities
• Identifying Frauds
• What is Forensic Accounting?
• The Investigative Process
• Defining Bribery
• Global Bribery Regulations
• Investigating Bribery and the Audit Trail

DAY THREE: MONEY LAUNDERING

• Major types of Laundering
• The Laundering Process
• Know Your Customer (KYC) and Know Your Neighbor (KYN): Weak Points in these Areas
• PEPs & the UBO: Best Practices in Discovery
• SOW/SOF: How far back do we go?
• Using Data in Investigations and its Limitations
• Creating a robust investigative process and an audit trail
• Reviews and Reporting

DAY FOUR: CYBER ISSUES & INTERNAL PROBLEMS FOR BUSINESSES

• Defining Cybercrime
• Cybercrime and their Impact
• Issues raised by the Pandemic
• Insider Crimes
• Operational Crimes and Problems Posed
• Isolating your Weak Points
• Investigating Cybercrimes
• Difficulties of investigating remote crimes and the problems with audit trails
• Inherent Problems with Investigating Staff: HR, Regulations, Management

DAY FIVE: BUILDING A WORLD-CLASS INVESTIGATIVE PROCESS

• Identifying Weak Points: Your Policies, Procedures, and Processes
• Collecting Data: The importance of ‘Professional Scepticism’
• The Roles of the 1^st, 2^nd & 3^rd Lines of Defense
• Third Parties and their Potential Impact
• The ‘Investigation Tree’
• Road Blocks in the Process: Overcoming Objections
• Skills Necessary for Effective Investigations
• Collecting & Collating Evidence
• Making sure all bases are covered
• Takeaways and Practical Advice