Financial Crime Prevention
At a glance
There has been a significant increase in the complexity and volume of regulation underpinning compliance in the area of financial crime prevention. Consequently, practitioners operating in this complex environment have to fulfil their fiduciary responsibilities of ensuring ethical and legal compliance within this regulatory environment while contributing to wider organisational objectives.
Who is it for?
• The role of the Head of Compliance with responsibility for AntiMoney Laundering and Counter Terrorist Financing legislation, often the Money Laundering Reporting Officer (MLRO) in a regulated firm, is now a pre-approval control function under the Central Bank Fitness and Probity regime. MLROs within firms carry serious legal responsibilities and those who fill the roles must know and understand what these responsibilities are.
• Relevant law and standards apply both at a domestic and international level and material breaches can result in personal accountability for MLROs as well as significant reputational damage and fines for financial services firms. The wider damage caused by financial or white collar crime to individuals, communities and the public at large is immeasurable. Effective prevention of fraud and financial crime, combined with thorough investigation if and when it does arise, yields very positive outcomes.
• The Professional Certificate in Financial Crime Prevention has been carefully designed to equip MLROs and others who specialise in this area with the necessary competence to fill this role and is the only accredited qualification at this level.
• This certificate has been designed in consultation with the Garda Bureau of Fraud Investigation and the Suspicious Transactions Unit in the Office of the Revenue Commissioners.
How you will benefit
This programme will support your personal and professional development. It will:
• Interpret contemporary legislation in the specific areas of financial crime prevention.
• Design, complete and report on major financial crime prevention projects, which may be required to enhance your firm's positioning within the sector
• Determine, on an ongoing basis, the performance of a financial crime prevention framework within your firm's framework
• Apply professional knowledge and skills to investigate a suspected financial crime
• Maintain, develop and apply contemporary professional best practice.
Continuous Professional Development
If you hold an IOB designation or a designation managed by IOB, CPD hours may be awarded on successful completion of this programme.
Financial/ White Collar Crime Prevention
(NFQ level 9, 10 ECTS)
This module considers the offense of financial/white collar crime which is committed by or against an individual or corporation and results in a financial loss. The various forms this type of crime can take are examined and best practice techniques to manage and control the risks are discussed. The module will introduce you to a number of topics and suggested methodologies, but also requires input from your professional experience to develop a best-practice approach in order to counteract, hinder and ultimately safeguard individuals and corporations from crime in the financial system.
The entry requirements for the programme are an:
• Honours degree (minimum second class honours grade 2 award or higher) in a business, legal, IT or a relevant cognate discipline.
• Those who do not hold a degree, but have exceptional professional experience in the areas of fraud, risk or compliance are eligible to apply and will be considered on a case-by-case basis.
You must be a current member of The Compliance Institute, or become a member, to undertake this programme.