Fraud Management & Anti-Money Laundering Awareness Certification Level 2

Having the ability to identify the signs of fraud is important for a variety of positions, but especially if you own your own business. Money laundering, which is often how a criminal will hide assets that have been fraudulently gained, is a problem that is intricately connected to the issue of fraud, and therefore it is vital to be aware of it. While at times overlooked, billions are lost annually due to cases of fraud.

These losses could damage a business or reputation or even cause an organisation to fail. This is why being aware of the many tools and skills available to detect cases of fraud are absolutely essential and, as an employer, it always makes a lot of sense to familiarise as many of your staff as possible on this issue.

This important 25 module course will guide your employees through everything they need to know, in order to combat fraud and money laundering practices within your organisation.

What’s Covered in the Course?

In this course, staff will learn about:

• The different types of fraud and how to identify them;

• What a typical offender would look like, and how to recognise suspicious behaviour;

• Techniques that are most commonly employed by criminals, in order to cheat an organisation;

• The psychology of the individuals that perpetrate these crimes and what motivates their behaviour, beyond the obvious financial incentive;

• How those at the top of an organisation or in politics can engage in fraud through bribery and corruption;

• The most effective tools available, in order to identify fraud and how to utilise them;

• How fraud can damage anyone through identity theft and what to do, if you find that someone has stolen your identity;

• Safeguards that your employees can put in place, in order to prevent fraud before it can ever;

• What money laundering is and the variety of different methods that are commonly employed, in order to hide assets.

What are the Benefits of the Course?

The range of benefits that any of your team members can look forward to include:

• The structured certification can help to accelerate your employee’s career;

• Your business will benefit from having employees who are knowledgeable about anti-money laundering and fraud practices;

• There are no entry requirements, so your staff needn’t worry about having the right qualifications, in order to apply;

• The course content is available online and structured in a modular fashion, so your team members can study at their own pace, at a time and from a place that best suits them.

Modules

Module 1: Fundamental Concepts

• Definition of fraud

• Internal vs external fraud

• Offender profiles

• Elements and Types of fraud

Module 2 : The Human Element of Fraud

• Studies

• Reasoning

• Why good people become fraudsters

• Motivation and rationalisation

Module 3 : Financial Crime

• What is financial crime.

• Who commits financial crimes

• Types of financial crimes.

• Common financial crimes

Module 4 : Fraud Analysis

• What is fraud analysis

• 5 Analysis methods to use

• Benefits

• Monitoring

Module 5 : The Analytical Process

• Risk areas

• Common occurrences

• What to look for

• Analytical System

Module 6 : Methodologies

• Types of fraud

• Process of detection

• Common Fraud Techniques

• Dealing with fraudulent employees

Module 7 : Identity Theft

• What is identity theft

• Identity fraud

• How to prevent identity theft

• What to do if you are a victim of identity theft

Module 8 : Correlation, Trend Analysis

• Fraud and money laundering correlation

• Fraud and gambling

• Fraud and wealth

• Motivation

Module 9 : The Fraud Management Process

• Five step management process

• Fraud risk governance

• Fraud risk assessment

• Prevention and detection

Module 10 : Bribery and Corruption

• Definition

• Biggest bribe cases in business

• UK Bribery Law

• What is corruption

Module 11 : Fraud Detection

• What is fraud

• Fraud detection

• Predicting rare events

• Anomalies

Module 12 : Fraud Solutions

• The importance of knowing your employees

• Set up a reporting system and raise awareness

• Internal control implementation

• Monitor employees leave

Module 13 : Taking Action

• Suspect fraud

• Fraud victim

• Plan preventative strategy

• Plan detection strategy

Module 14 : Bank Fraud

• Definition of bank fraud

• Types of bank fraud

• Prevention

• Understanding bank fraud

Module 15: The Investigative Process

• Fraud risks for companies

• The 5 step process

• Who to include in the investigative team

• Conducting fieldwork

Module 16: New Fraud Tools

• Tools you may already own

• Active data – add on for Excel

• Fraud.net

• Kount Complete

Module 17: What is Money Laundering?

• What is money laundering

• How money laundering occurs

• What makes money laundering illegal

• 3 Stage Process

Module 18: Methods of Money Laundering

• Crime proceeds

• Common money laundering methods

• Red flags, what to look for

• Methods to stop money laundering

Module 19 : An Introduction to Money Laundering Regulations

• Who does money laundering regulations apply to

• When you don’t need to register

• Identifying risks

• Reporting

Module 20 : The Proceeds of Crime and Terrorism Acts

• Introduction to the Proceeds of Crime Act 2002

• Introduction to the Terrorism Act 2000

• Reporting obligations

• Money laundering regulations

Module 21 : The HMT Sanctions List and Client Identification

• The Financial Regime

• Understanding financial sanctions

• Reporting to HM Treasury

• What client information you need to collect

Module 22 : The Financial Services and Markets Act

• What is it

• Companies regulated under the Act

• Regulatory framework

• The Financial Services Authority

Module 23 : Record Keeping and Training

• General record keeping requirements

• Failure to disclose accurate financial records

• Financial reporting standard

• Staff training

Module 24 : Disclosure to the NCA

• What is the NCA

• How differs regular police force

• SAR system

• Obtaining consent from NCA

Module 25 : Internal Reporting / Staff Training

• Staff training

• What to include

• Internal reporting procedures

• Policies and procedures with sample document