About this course

An agreement in a case in a US state sets up new risks for all regulated businesses. Everywhere.

Until July 2020, it was difficult to do but easy to understand.  Look for money that might arise from criminal conduct or might be on the way to finance terrorism and follow a course of action set down in law and regulation. 

Now it's far, far more complicated. 

The case is about private banking in New York, USA. The lessons in and the effect of the case is for every business regulated for financial crime (e.g. money laundering and terrorist financing) anywhere in the world.

The course includes a critical analysis of the Consent Order and additional background information. It also explains how and why the new risks arise and what those risks are.  

This is a senior level course which means that it is designed for 

- those working in law firms

- managers, compliance and risk officers and directors/ owners of businesses dealing with law firms. 

It will prove valuable to many front line staff for whom lawyers are a part of their day to day activity. 

Access - unrestricted for one year

Hours: Two

Examination: yes

Retakes: yes.

Certificate: yes

Certificate validity: 12 months.

cFCRC points: 20

Portable CPD (TM): where recognised 2 hours

Course language: English

Pre-requisites

1. Site registration

2. Quick To Learn More - About and Manual 

Age limit: none

Payment method: credit or debit card

Payment Gateway: Stripe

Price: GBP25.00 inc UK VAT where applicable.

Course curriculum

  • 1

    1. About this course (prerequisite reading)

    • 1.1 Caveat and Legal

    • 1.2 Status of this Course

    • 1.3 Pre-requisite

  • 2

    2. Overview

    • 2.1 Overview 1

    • 2.2 Overview 2

  • 3

    3. Myths and clarification

    • 3.1 First, debunk myths and clarify something.

  • 4

    4. The background to the Epstein aspects of NY DFS v Deutsche Bank et al.

    • 4.1 Epstein’s money – clean or not? 1

    • 4.2 Epstein’s money – clean or not? 2

    • 4.3 Criminal and other allegations against Epstein.

    • 4.4 Epstein’s relationship with Deutsche Bank.

    • 4.5 Embarrassment for the Wolfsberg Group

  • 5

    5. Why did Deutsche Bank get into trouble this time?

    • 5.1 Money, money everywhere and lots of it to spend

    • 5.2 Compromised account opening process

    • 5.3 Financial Crime Risk and Compliance was subject to commercial interests

    • 5.4 Never mind the quality, have more Champagne

    • 5.5 Compliance takes action but it doesn’t work.

    • 5.6. More warning signs 1

    • 5.7 More warning signs 2

    • 5.8 More warning signs 3

    • 5.9 ″Suspicious cash activity″

    • 5.10 Deutsche Bank’s exit strategy.

  • 6

    6. More on Epstein’s source of funds

    • 6.1 Was there a conflict of interest within the bank?

  • 7

    7. How the NY DFS turned the concept of money laundering on its head.

    • 7.1 A significant change in interpretation of the Bank Secrecy Act.

  • 8

    8. How much influence does the case have?

    • 8. 1 Is the Deutsche case a precedent? 1

    • 8. 2 Is the Deutsche case a precedent? 2

    • 8.3 Is the Deutsche case a precedent? 3

    • 8.4 Is the Deutsche case a precedent? 4

    • 8.5 Is the Deutsche case a precedent? 5

    • 8.6 Does it matter whether it’s a precedent?

  • 9

    9. Failures as defined by NY DFS

    • 9.1 NY DFS makes its stance clear

  • 10

    10. How much risk does the case create for regulated businesses?

    • 10.1 About turn on long established approaches.

    • 10.2 More risks.

  • 11

    11. The reward

    • 11.1 The sweet treat after the bitter medicine.

  • 12

    Next Steps...

    • Now for your examination

    • Examination: Deutsche Bank, NY DFS, Epstein, Financial Crime Risk and Compliance.