About this course.

Price of course: includes UK VAT where applicable.

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Course language: English


1. Site registration

2. Quick To Learn More - About and Manual 

Pre-existing subject knowledge required: none

Portable CPD (TM) hours (where recognised): 4 hours

Certification credits: 15

Test: yes

Certificate: yes

Subscription expires: one year

Age limit: 16 plus

Price: includes UK VAT where applicable

Payment method: credit or debit card

Payment Gateway: Stripe

Level: FrontLiners

FrontLiners' courses are designed to meet the regulatory training requirement for financial crime risk and compliance  for

- front line staff;
- non-customer facing staff who may nevertheless come into possession of information

FrontLiners' Courses are suitable as a starting point for managers, directors, owners or compliance / risk / internal audit staff who should build on this to achieve greater knowledge.

Course curriculum

  • 1

    About the course

    • Caveat and Legal

    • Status of this course

    • Pre-requisite

  • 2

    Singapore - Information

    • Singapore: information

  • 3

    Money laundering and terrorist financing - Introduction - (J).

    • About this chapter

    • What is money laundering?

    • What is money?

    • How could I be a money launderer?

    • What are the obligations placed on your company to detect and deter money laundering?

    • What does a money launderer want from me?

    • What is a money launderer aiming to achieve?

    • What is terrorist financing?

    • What is confiscation?

    • The three types of money laundering transaction

    • The money launderer doesn't care about you

    • Terrorists and their money men don't care about you either

    • Sanctions

    • Currency and other Transaction Reporting

    • Money Laundering Techniqes: structured transactions

    • Money Laundering Techniques - basic

    • Money laundering techniques - complex

    • Your primary duty: identify suspicious transactions and report them.

    • Aggregation

    • The "Risk-Based" Approach

    • PEP talk

    • Internal policies and procedures: local and global application.

  • 4

    Singapore Legislation (J)

    • About this chapter

    • Singapore laws, etc. with money laundering and terrorist financing provisions.

    • Relevant criminal conduct for money laundering purposes (predicate crimes)

    • Outline of offences

    • Special meaning of ordinary words

    • Definition of money laundering

    • The basic tools of laundering

    • A little knowledge is a dangerous thing

    • Why "reasonable cause to believe" creates a risk for you.

    • Laundering proceeds of own crime

    • Example of concealing

    • Example of disguising

    • Example of "converting"

    • Example of "removing from the jurisdiction"

    • Laundering the proceeds of someone else's crime

    • The offence of acquiring benefits of criminal conduct

    • "Inadequate consideration"

    • The offence of assisting in an arrangement to retain benefits.

    • Examples of being involved in an arrangement.

    • Defence and mitigation

    • Reports of Suspicions (disclosures)

    • Property placed at a person's disposal

    • Funds placed at a person's disposal

    • The offence of tipping off

    • Failing to make a suspicious transaction report

    • Protection of persons making reports

    • False reporting of suspicions

    • Why do I not hear anything further when I make a report?

    • Laundering foreign money: a special problem

    • Retrospection.

    • "I think we have money from an old offence."

    • No problem - the only money we got was our fees."

    • Offences by bodies corporate

  • 5

    Comparing "knowledge," "belief" and "suspicion.

    • The difference between "suspicion" and "belief"

    • Comparing "knowledge," "belief" and "suspicion"

    • How suspicious is suspicious?

    • I made a report and I've been asked to continue with the transaction. Can I get into trouble?

    • Production orders (ss30-33)

    • Power of search and seizure (ss34-35)

  • 6

    CDSA Obligations on Certain businesses.

    • CDSA Obligations on regulated businesses.

  • 7

    The Financing or Terrorism (Terrorism (Suppression of Financing Act) 2002 (Chap. 325)

    • Definitions (excluding that of "terrorism")

    • Definition of terrorism

    • Terrorist Property Offences (including terrorist financing)

    • CDSA s39 (1) - The funding of Future Crime

  • 8

    Singapore Regulation and Guidelines (J)

    • About Notices, Regulations and Guidelines

    • MAS Notices 1014, (intro)

    • Underlying princples

    • Assessing risk and applying a risk-based approach.

    • New products, practices and technologies

    • Risk assessing prospective and current customers -1

    • Risk assessing prospective and current customers -2

    • Identification of applicant for business

    • Monitoring customers and accounts

    • Non-Face to Face Business

  • 9

    How money launderers use Merchant and Investment Banks (J)

    • About this chapter

    • Why merchant and investment banking and asset management have similar money laundering and terrorist financing issues

    • The Core Risk - Idenfication of Parties

    • KYC/CDD on corporate customers

    • Risks relating to Trusts.

    • Merchant banking, investment banking and asset managers - the myth

    • "All the money we get comes from another bank"

    • "Where did the money come from and where did it go?"

    • My counter-party is a bank or other registered/ regulated entity. No problem, right?

    • What if my counter-party bank says the money's OK?

    • Does this mean I have to know foreign law as well?

    • "I know that the deal price is x but think that there is some under-the-table money"

    • Multi-account sourcing

    • How you might be regarded under the law

    • More Side Letter Deals.

    • Misstating company assets.

    • Overstated assets as a basis of a financing fraud.

    • Misleading auditors

    • Payments being made by the seller to the purchaser or to his order.

    • Regarding side letters as suspicious

    • What are the primary risk areas?

    • Caution with regard to other regulatory systems

    • Dealing with governments

    • KYC and KYB when dealing with governments

    • Merchant, investment banks and asset managers have special problems in customer identification.

    • Risk Areas for Asset Management, Merchant and Investment Banking

    • Reasons to be fearful

    • Can I assess risk at the time of opening an account?

    • Risks in share offers.

    • Risks in Venture Capital

    • Risks for Registrar

    • Offers at maximum price

    • Risks relating to shares purchased on public offering.

    • Investment funds as customers

    • Risks in project financing

    • Letters of Credit - risk profile

    • A reason to read documents carefully

    • Sit back, and get ready for a cup of coffee.

    • Examination: Money Laundering and Terrorist Financing - Singapore - Merchant and Investment Banks and Asset Managers - Jnr.