Participants will receive access to the recorded sessions of the course.
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The conduct of illegal activities such as money laundering, fraud, and identity theft by electronic systems is called cybercrime. It is an act that violates the law, which is performed and executed using information and communication technology to either target networks, systems, data, websites and/or technology or facilitate a crime. In a data-driven financial environment, cybercrime has emerged as a major concern for regulators and institutions, with criminals manipulating computer systems and online financial services to commit money laundering, fraud and other crimes.
In an effort to control and restrict the movement of dirty funds globally, international governments and regulatory bodies have applied effective control measures, including laws and regulations, supervisory authorities and industry suggestions and recommendations. Governments and regulators are continuously updating these regulations and recommendations in order to counter the complex money-laundering techniques as well as the recent evolution in the technological field. This course covers the main regulations for money laundering and cybersecurity. It provides an introduction about money laundering as a whole and a complete coverage of the money laundering regulations. It provides as well a broad overview of cybersecurity, including how computers and networks are attacked, how the attackers benefit, and how to mitigate those attacks. By attending this course, participants will be able to understand the common cyber security threats, vulnerabilities, and risks, as well as how to assist in preventing money laundering, cybercrimes, and the various financial crimes associated to them.
Training Objectives
By the end of the programme, participants will:
- Understand what is Money Laundering, its stages, its legal framework, and the risks associated to it.
- Get introduced to the concept of Cybersecurity and differentiate the various physical and environmental threats.
- Have the competence to assess cyber-risks and create a cyber-risk management process
- Apprehend the concepts of Cybercrime and Cyber laundering and their effect on the World Economy
- Understand how is Cybercrime related to Money Laundering
- Have the ability to explain the principles of confidentiality, integrity, and availability.
- Understand the data protection / data privacy rules.
- Understand the various regulatory penalties imposed in case of a breach and how to avoid those penalties
Training Outline
Definition of Money laundering (ML) and Terrorist Financing (TF) and the Difference between the two
Stages of Money Laundering
Legal Framework of Anti-Money Laundering and Combating Terrorism Financing
Sanctions:
Offences and Penalties
Industries Involving High Risk of Money Laundering
Measures Needed For Efficient Money Laundering Controls
- Providing awareness and understanding about Money laundering incidents / situations
- Mechanisms / Policies / Procedures
- Reporting to Include Anti-Money Laundering requirements
- Requiring Audit and Risk Committees to address Money Laundering Issues
- Formation of Ethics and Compliance Committees
- Imposing Business Ethics in the Management of Companies
- Sanctions and PEP Screenings
- KYC and Identity Verification Procedures
- Know Your Customer (KYC) norms
- Updating Customer Profile
- Identification of Beneficial Ownership (BO)
- Enhanced Due Diligence for high-risk customers (including Politically Exposed Persons)
- Classification of the Client According to the Risk Based Approach
- Obligations Regarding Employees (Know Your Employees)
- Reporting to the Financial Intelligence Unit
- Record Keeping
- Reliance on third parties for Customer Due Diligence
- Use of the banking system as a payment mode
- AML/CFT focused inspections and sanctions
Suspicious Transactions Indicators
- Guidance on Suspicious Transaction Triggers/Indicators
- List of Suspicious Transactions Triggers/Indicators
A Brief History of Cybercrime
Physical And Environmental Threats
The Principles of Confidentiality, Integrity, Availability
Data Privacy Standards and Laws
- Overview of Main Important Definitions
- Personal Identifiable information (PII)
- Data Breach and Incident Response
- Non-Compliance and Regulatory Fines
Hacking Methodology
Encryption
Cybersecurity Threats
Phishing and Cyber Attacks
Cyber Risk Assessment
The Cost of Compromised Data
Introduction to Blockchain Technology
Cybersecurity and Blockchain Technology
Security Tokens and Utility Tokens
What is the Impact of Cybercrime on the World Economy
What is AML in Cybersecurity
What is Cyber Financial Crime?
What is Cyber Laundering?
How is Cybercrime related to Money Laundering?
Regulatory Penalties
- What Is Regulatory Compliance?
- How Can We Define Regulatory Risks?
- How Can A Regulator Affect The Business?
- How to Minimize Regulatory Penalties Risks?
Who Should Attend
- Compliance Officers
- Internal Auditors and People working in IT Audit
- Risk Managers
- Beginners in the Financial Industry
- Professionals that want to enhance their AML / Compliance Knowledge
- Professionals that want to enhance their IT Security Knowledge
- IT Security Officers
- Employees of Banks and Financial Institutions
- Professionals working in the Financial Industry but do not have a wide knowledge about Cybersecurity
- Professionals working in the IT field but do not have a knowledge about AML
Training Style
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Participants will be able to engage in discussions surrounding the ethical concerns, general implications of Money Laundering and Cybersecurity. They will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace.
CPD Recognition
This programme may be approved for up to 7 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 7 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Training Objectives
By the end of the programme, participants will:
- Understand what is Money Laundering, its stages, its legal framework, and the risks associated to it.
- Get introduced to the concept of Cybersecurity and differentiate the various physical and environmental threats.
- Have the competence to assess cyber-risks and create a cyber-risk management process
- Apprehend the concepts of Cybercrime and Cyber laundering and their effect on the World Economy
- Understand how is Cybercrime related to Money Laundering
- Have the ability to explain the principles of confidentiality, integrity, and availability.
- Understand the data protection / data privacy rules.
- Understand the various regulatory penalties imposed in case of a breach and how to avoid those penalties
Training Outline
Definition of Money laundering (ML) and Terrorist Financing (TF) and the Difference between the two
Stages of Money Laundering
Legal Framework of Anti-Money Laundering and Combating Terrorism Financing
Sanctions:
Offences and Penalties
Industries Involving High Risk of Money Laundering
Measures Needed For Efficient Money Laundering Controls
- Providing awareness and understanding about Money laundering incidents / situations
- Mechanisms / Policies / Procedures
- Reporting to Include Anti-Money Laundering requirements
- Requiring Audit and Risk Committees to address Money Laundering Issues
- Formation of Ethics and Compliance Committees
- Imposing Business Ethics in the Management of Companies
- Sanctions and PEP Screenings
- KYC and Identity Verification Procedures
- Know Your Customer (KYC) norms
- Updating Customer Profile
- Identification of Beneficial Ownership (BO)
- Enhanced Due Diligence for high-risk customers (including Politically Exposed Persons)
- Classification of the Client According to the Risk Based Approach
- Obligations Regarding Employees (Know Your Employees)
- Reporting to the Financial Intelligence Unit
- Record Keeping
- Reliance on third parties for Customer Due Diligence
- Use of the banking system as a payment mode
- AML/CFT focused inspections and sanctions
Suspicious Transactions Indicators
- Guidance on Suspicious Transaction Triggers/Indicators
- List of Suspicious Transactions Triggers/Indicators
A Brief History of Cybercrime
Physical And Environmental Threats
The Principles of Confidentiality, Integrity, Availability
Data Privacy Standards and Laws
- Overview of Main Important Definitions
- Personal Identifiable information (PII)
- Data Breach and Incident Response
- Non-Compliance and Regulatory Fines
Hacking Methodology
Encryption
Cybersecurity Threats
Phishing and Cyber Attacks
Cyber Risk Assessment
The Cost of Compromised Data
Introduction to Blockchain Technology
Cybersecurity and Blockchain Technology
Security Tokens and Utility Tokens
What is the Impact of Cybercrime on the World Economy
What is AML in Cybersecurity
What is Cyber Financial Crime?
What is Cyber Laundering?
How is Cybercrime related to Money Laundering?
Regulatory Penalties
- What Is Regulatory Compliance?
- How Can We Define Regulatory Risks?
- How Can A Regulator Affect The Business?
- How to Minimize Regulatory Penalties Risks?
Who Should Attend
- Compliance Officers
- Internal Auditors and People working in IT Audit
- Risk Managers
- Beginners in the Financial Industry
- Professionals that want to enhance their AML / Compliance Knowledge
- Professionals that want to enhance their IT Security Knowledge
- IT Security Officers
- Employees of Banks and Financial Institutions
- Professionals working in the Financial Industry but do not have a wide knowledge about Cybersecurity
- Professionals working in the IT field but do not have a knowledge about AML
Training Style
The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies, practical examples, real-life simulations. Participants will be able to engage in discussions surrounding the ethical concerns, general implications of Money Laundering and Cybersecurity. They will also benefit from customised feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace.
CPD Recognition
This programme may be approved for up to 7 CPD units in Financial Regulation and AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 7 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
