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.
- Definition of fraud
- Internal vs external fraud
- Offender profiles
- Elements and Types of fraud
- Why good people become fraudsters
- Motivation and rationalisation
- What is financial crime.
- Who commits financial crimes
- Types of financial crimes.
- Common financial crimes
- What is fraud analysis
- 5 Analysis methods to use
- Risk areas
- Common occurrences
- What to look for
- Analytical System
- Types of fraud
- Process of detection
- Common Fraud Techniques
- Dealing with fraudulent employees
- What is identity theft
- Identity fraud
- How to prevent identity theft
- What to do if you are a victim of identity theft
- Fraud and money laundering correlation
- Fraud and gambling
- Fraud and wealth
- Five step management process
- Fraud risk governance
- Fraud risk assessment
- Prevention and detection
- Biggest bribe cases in business
- UK Bribery Law
- What is corruption
- What is fraud
- Fraud detection
- Predicting rare events
- The importance of knowing your employees
- Set up a reporting system and raise awareness
- Internal control implementation
- Monitor employees leave
- Suspect fraud
- Fraud victim
- Plan preventative strategy
- Plan detection strategy
- Definition of bank fraud
- Types of bank fraud
- Understanding bank fraud
- Fraud risks for companies
- The 5 step process
- Who to include in the investigative team
- Conducting fieldwork
- Tools you may already own
- Active data - add on for Excel
- Kount Complete
- What is money laundering
- How money laundering occurs
- What makes money laundering illegal
- 3 Stage Process
- Crime proceeds
- Common money laundering methods
- Red flags, what to look for
- Methods to stop money laundering
- Who does money laundering regulations apply to
- When you don't need to register
- Identifying risks
- Introduction to the Proceeds of Crime Act 2002
- Introduction to the Terrorism Act 2000
- Reporting obligations
- Money laundering regulations
- The Financial Regime
- Understanding financial sanctions
- Reporting to HM Treasury
- What client information you need to collect
- What is it
- Companies regulated under the Act
- Regulatory framework
- The Financial Services Authority
- General record keeping requirements
- Failure to disclose accurate financial records
- Financial reporting standard
- Staff training
- What is the NCA
- How differs regular police force
- SAR system
- Obtaining consent from NCA
- Staff training
- What to include
- Internal reporting procedures
- Policies and procedures with sample document
Who can take the Fraud Management & Anti-Money Laundering Awareness Certification Level 2 course?There are no entry requirements to take the course.
What is the structure of the course?The course is broken down into 25 individual modules. Each module takes between 20 and 90 minutes on average to study. Although students are free to spend as much or as little time as they feel necessary on each module.
Where / when can the course be studied?The course can be studied study at any time and from any internet connected device
Is there a test at the end of the course?Once you have completed all 25 modules there is a multiple choice test. The questions will be on a range of topics found within the 25 modules. The test, like the course, is online and can be taken a time and location of your choosing.
What is the pass mark for the final test?The pass mark for the test is 70%.
What happens if a user fails the test?If the user doesn’t pass the test first time they will get further opportunities to take the test again after extra study. There are no limits to the number of times a test can be taken.
How long does it take to complete the Fraud Management & Anti-Money Laundering Awareness Certification Level 2 course?We estimate that the course will take about 15 hours to complete in total, plus an additional 30 minutes for the end of course test.