About this course.

ANNOUNCEMENT 24 March 2021.

THIS COURSE HAS NOW BEEN RETIRED. No new subscriptions are accepted.

This course has now been subsumed into Quick To Learn More. 

Please click QuickToLearnMore.com

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. 1
    • Caveat and Legal

    • Status of this course

    • Pre-requisite

  2. 2
    • Singapore: information

  3. 3
    • 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. 4
    • 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. 5
    • 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. 6
    • CDSA Obligations on regulated businesses.

  7. 7
    • Definitions (excluding that of "terrorism")

    • Definition of terrorism

    • Terrorist Property Offences (including terrorist financing)

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

  8. 8
    • 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. 9
    • 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.