Financial Crime Risk Assessment
Compliance Certificate

By the end of this AML Certified programme, learners will be able to:

• Design and implement a comprehensive firm-wide financial crime risk assessment (FCRA) aligned with UK and international regulatory expectations.
• Identify and assess key financial crime risk factors, including products, delivery channels, geographies, customer types, sectors, transactions, third-party relationships, and outsourcing arrangements—ensuring full-spectrum risk visibility.
• Differentiate between inherent and residual risks, apply structured methodologies, and evaluate the effectiveness of financial crime controls to inform overall risk ratings.
• Identify and map relevant financial crime types—including money laundering, terrorist financing, sanctions evasion, fraud, bribery, tax crimes, and more—ensuring risk coverage reflects the firm’s business activities and regulatory exposure.
• Detect and address weaknesses in existing risk assessment frameworks, including gaps in methodology, documentation, and alignment with regulatory expectations.
• Produce audit-ready, regulator-facing documentation that clearly evidences risk ratings, control effectiveness, and rationale, supporting strong internal governance and external assurance.
• Enhance typology awareness and analytical capability through thinking like a criminal, enabling better risk detection, data-led MI reporting, and effective communication at Board level

This AML certified programme is ideal for professionals looking to deepen their expertise and take a leading role in AML and Financial Crime Risk Assessments, including:

• MLROs and Deputy MLROs responsible for firm-wide financial crime risk assessments and AML frameworks
• Heads of Financial Crime Compliance (FCC) seeking to enhance risk assessment methodologies, AML governance, and regulatory alignment
• Senior Financial Crime or AML professionals managing AML, CTF, sanctions, fraud, and broader financial crime risks across the business or involved in the completion of a Financial Crime Risk Assessment
• Internal Auditors and Assurance Professionals evaluating the design, implementation, and effectiveness of financial crime risk assessment models and controls
• Aspiring AML or FCC leaders preparing for senior roles such as MLRO, Deputy MLRO, or Head of Financial Crime Risk and Compliance

This programme supports AML professionals seeking to build confidence and capability in designing, implementing, and completing financial crime risk assessments in line with evolving UK and international regulatory expectations

All GCAL certified programmes are delivered online via an on-demand, instructor-led video format, with the flexibility to study at your own pace.

• Hosted via GCAL’s digital learning platform
• Interactive elements, including real-world case studies and scenario-based learning
• Clear learning journey with access to support materials, reading lists, and guided exercises
• Final assessment includes a 20-question multiple-choice exam
• Duration – 7–10 hours of learning time

This advanced-level certificate is structured around core themes essential to building, leading, and sustaining a robust AML and financial crime compliance programme. Key modules include:

• Introductions and Defining the Risk: This opening module sets the foundation by introducing the core principles of financial crime risk assessment. Learners will explore the purpose and scope of an FCRA, define key terminology, and understand the distinction between inherent and residual risk. This module also establishes the importance of a proportionate, risk-based approach.
• Identifying the Risk – “Think Like a Criminal”: This session explores practical strategies for identifying financial crime risks through the lens of a criminal mindset. Learners are introduced to real-world typologies across money laundering, fraud, terrorist financing, sanctions evasion, and other predicate offences. The focus is on anticipating criminal behaviour, to understand the risks your firm faces
• UK and International Legal and Regulatory Responsibilities: A deep dive into the legal and regulatory frameworks shaping the FCRA process. This module covers the expectations of UK regulators such as the FCA and PRA, as well as international bodies including FATF and the EU. Learners will examine enforcement trends and guidance, gaining clarity on what regulators expect from a robust FCRA.
• Managing the Risks – Performing a Risk Assessment: Here, learners develop practical skills to conduct an effective firm-wide financial crime risk assessment. This includes assessing inherent risk across key factors—products, delivery channels, geographies, customer types, transactions, third parties, and outsourcing—and applying methodologies to evaluate residual risk.
• Designing an FCRA and Risk Assessment Models: This module introduces the GCAL Risk Assessment Model, guiding learners in designing a tailored, evidence-based FCRA that aligns with the firm’s business model. The session includes walkthroughs of model structures, risk scoring, and documentation techniques to ensure auditability and regulatory defensibility.
• Risks & Controls – Further Design Considerations: Learners will explore the relationship between identified risks and control frameworks, including how to assess control effectiveness and map it to overall risk ratings. This module also addresses common weaknesses in control documentation and the importance of building a defensible methodology that withstands regulatory scrutiny.
• Managing the FCRA and Reporting the Risks: This practical module focuses on the ongoing management of the FCRA, including how to update, review, and integrate it into broader governance structures. Learners will understand the lifecycle of an FCRA and how it fits into risk management and compliance planning.
• Validation & Assurance of the FCRA:Assurance and validation are essential for FCRA credibility. This module provides tools and techniques to conduct independent validation and internal assurance, ensuring the assessment is not only accurate but defensible and regulator-ready.
• Communication, Management and Recording The final module focuses on effective communication and governance. Learners will explore how to present FCRA findings to senior management and Boards, build meaningful MI, and document the FCRA in a way that supports compliance, transparency, and accountability.

• Number of Questions: 20
• Question Format: Multiple Choice
• Pass Mark: 70%

Your result will appear immediately upon submitting your answers. If you meet the pass mark, a digital badge and e-certificate will be issued instantly via the GCAL LMS. You’ll also receive a secure link to share your certification on LinkedIn, with your employer, or across your professional network.

See our Assessment Terms & Conditions for more information.

Learners who successfully complete the course and assessment will receive:

• • GCAL Advanced Financial Crime Risk Assessment Compliance Certificate
• The post-nominal designation GC(AdvFCR)
• A digital badge – shareable and verifiable via LinkedIn and other professional platforms