Using Technology in Financial Crime Prevention

Purpose of Programme

● Understand the different types and typologies of financial crime and the anti-financial crime (AFC) regulatory environment in Singapore.
● Understand how regulatory technology (RegTechs) can be used effectively to manage and mitigate financial crime risk.
●Understand the role technology plays in the AFC control framework including due diligence measures, screening and ongoing monitoring.

Programme Structure

Module 1: Financial Crime Overview

● Financial crime types
● Key regulations and industry guidance
● The financial crime function

Module 2: Using technology and the AFC Framework

● What is a RegTech?
● RegTech product types
● Manual versus automated solutions
● Machine Learning and Artificial Intelligence

Module 3: CDD Principles and Technology

● CDD principles and regulation
● eIDV
● Digital Identity and SingPass

Module 4: Principles of Screening and Technology

● Overview of customer screening regulation and types of screening (sanctions, PEPs, watchlists and adverse media)
● Approaches to customer screening and core challenges with implementation

Module 5: Principles of Ongoing Monitoring and Technology

● Overview of monitoring and reporting requirement
● Decision making and escalations as part of transaction monitoring
● Approaches to ongoing monitoring and core challenges with implementation

Module 6: Choosing the right technology

● Speaking to Core Challenges
● RFP Process

Learning Objectives and Outcomes

● Understand the different financial crime types including money laundering, terrorist financing, fraud, bribery and corruption, sanctions evasion, market manipulation and cybercrime and what impact they may have on financial services.
● Understand where RegTechs fit into the anti-financial crime landscape and how they can help their customers manage risk and meet regulatory expectations.
● Understand how technology can be used to enhance the AFC control framework specifically CDD, Screening, Ongoing Monitoring and Reporting.
●Understand what eIDV is and the associated risks with non-face-to-face onboarding.

Course Dates

● 3 November 2022

Course Fee

● S$488 per pax

About the Trainer

Sara Abbasi, Senior Consultant, FINTRAIL

Sara has over 6 years’ experience working in FCC roles across a range of financial products including FX and payments, Private Banking, Corporate and Investment Banking (ex Credit Suisse, CurrencyCloud). She is also experienced in Financial Crime Operations, Transaction Monitoring, SAR reporting and Anti-Money Laundering investigations. Sara has over 3 years experience training range of financial services businesses on antifinancial crime (AFC) training and agile project delivery. She has worked with a range of financial institutions designing AFC frameworks for emerging products, testing and implementation of third party AFC solutions, and conducting audits on financial crime control frameworks. She is a graduate of BA War Studies; combines an academic background in geopolitics with professional experience in financial crime compliance.

Andrew Morrison, Consultant, FINTRAIL

Andy is a former financial investigator and financial crime analyst for City of London Police and has over twelve years’ experience working at the forefront of intelligence led policing, the last seven of which he has specialised in complex fraud and money laundering investigations. Andy has led multiple, successful investigations including into an international crime group engaged in transnational money laundering and an employee engaged in insider fraud at a large multinational corporation. He has significant experience advising financial institutions on counter fraud techniques, SARs best practice and working with financial intelligence and has previously represented City of London Police at The Hague.

Relevant experience

Since joining FINTRAIL, Andy has worked on a number of engagements, including:
● Developing a tailored AML/CFT framework for a firm looking to bring a new product to market.
● Conducting in-depth market research on behalf of an investment firm looking to expand their portfolio.
● Involved in a number of AML/CTF and sanctions health checks, audits, and design programs.
● Has created and delivered, both in person and over vc, a number of bespoke anti-financial crime training packages covering topics such as identifying suspicious behaviour, Suspicious Activity Report (SAR) writing and process refinement, and PEP and Sanction alert clearance.
As an operational investigator and financial crime analyst, Andy also has experience of:
● Conducting criminal investigations and analysing financial data to an evidential standard.
● Presenting evidence in Court.
● Working with law enforcement and regulatory agencies from across the globe.