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CERTIFIED ONLINE TRAINING

AML: For Correspondent Banking

The course is designed to enable learners to identify and assess the risks in respondent relationships

Course Overview

A programme that is designed to support risk and compliance professionals to assess, identify and manage the risks that are presented by respondent relationships in financial services. 

Course Structure

  • Defining correspondent banking and associated crime risks. 
  • Legal and regulatory requirements. 
  • Before you enter into the respondent relationship – profiling the risks of the organisation. 
  • Monitoring the relationship – transactions, customer risk profile and behaviour. 
  • Identifying the risks – ‘red flags’ 
  • Managing risks and investigating concerns. 
  • Reporting concerns. 
  • Exiting the relationship. 

Course Summary

Course Level
Specialist
Availability
From Q2, 2024
Online Presentation
Recorded Instructor-Led Training
Duration
3 Hours

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Who Is This For?

  • Employees who are responsible for managing respondent relationships. 
  • Sanctions risk employees. 
  • Financial crime compliance professionals at all levels. 
  • MLRO, DMLRO and the nominated officer. 
  • Compliance assurance and monitoring. 
  • Auditors. 

Learning Outcomes

How will I benefit from completing the programme?

  • Define the term ‘correspondent banking.’ 

  • Describe the very latest  correspondent banking financial crime risks. 

  • Explain the key UK and USA laws and regulations that are applicable to correspondent banking relationships. 

  • Identify some of the risks that must be managed in respondent relationships. 

  • Analyse case studies of regulatory failure and enforcement action. 

  • Demonstrate how to manage respondent relationships. 

Topics Covered

Main Subjects Covered

  1. Proceeds of Crime Act 2002 

  2. FATF 40 Recommendations 

  3. Six Pillars of Good Governance 

  4. SARS 

  5. Record keeping 

  6. CDD

What will be covered?

  • What does ‘Correspondent Banking’ mean? 
  • De-risking in the banking sector. 
  • Associated crime risks and high-risk activity. 
  • Nesting and payable through accounts. 
  • Shell Banks and offshore licensing. 
  • Money laundering regulations 2017 (as amended). 
  • Financial Conduct Authority guidance. 
  • USA Patriot Act. 
  • Wolfsberg Group Principles. 
  • Opening the relationship. 
  • Managing the risks. 
  • Identifying crime. 
  • Escalating crime concerns. 
  • Case study analysis – regulatory failure. 

Delivery Formats

We work to your budget which means you can afford us! Price is based on several factors including number of delegates, length, and method of delivery.

  • Live Online
  • In Classroom
  • Private groups
  • Blended Learning
  • On Demand