Auditing financial crime: a masterclass

You will gain practical, actionable knowledge to effectively combat the full spectrum of financial crime threats. The masterclass will empower you to:
•  Comprehend the Core Frameworks: Understand the critical pillars of Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), Anti-Bribery and Corruption (ABC), Sanctions and Tax Evasion facilitation programmes.
•  Identify and Assess Risks: Develop a keen eye for red flags and learn how to conduct a comprehensive risk assessment tailored to the financial services industry and specific to business lines.
•  Master the Audit Process: Learn to design and execute robust audits of financial crime controls.
•  Navigate the Regulatory Environment: Stay current with evolving global and local regulations and understand the consequences of non-compliance.

Module 1: Auditing AML & CTF Programs
•    Risk Assessment: Assessing the Business Risk Assessment (BRA) and Customer Risk Assessment (CRA) methodologies.
•    Customer Due Diligence (CDD): Auditing the effectiveness of customer onboarding, verification, and ongoing monitoring processes.
•    Transaction Monitoring: Evaluating the design and calibration of automated transaction monitoring systems and the quality of alert handling.
•    Suspicious Activity Reporting (SAR): Auditing the process for identifying, investigating, and reporting suspicious activities.

Module 2: Auditing Anti-Bribery and Corruption (ABC) Controls
•    Risk Assessment: Auditing the ABC risk assessment, with a focus on high-risk areas like third-party intermediaries and gift and hospitality policies.
•    Control Effectiveness: Testing controls related to payments, expense management, and charitable donations for potential bribery and corruption risks.
•    Culture & Governance: Assessing the "tone from the top" and the effectiveness of training, whistleblowing channels, and internal reporting on ABC issues.

Module 3: Auditing Sanctions Compliance Programmes
•    Risk Assessment: Auditing the sanctions risk assessment methodology, including geographic and sectoral risks.
•    Screening Systems: Evaluating the effectiveness of sanctions screening tools for customers and transactions, including list management and false-positive handling.
•    Governance & Reporting: Assessing the internal escalation process for potential matches and the accuracy of sanctions reporting and record-keeping.

Module 4: Auditing Tax Evasion Facilitation Risks
•    Understanding the Risk: A review of the Criminal Finances Act and other relevant tax evasion legislation, with a focus on the financial services sector.
•    Risk Assessment: Auditing how the institution identifies and assesses its risk of facilitating tax evasion by associated persons.
•    Control Testing: Evaluating controls around client acceptance, due diligence, and transaction monitoring specifically for tax evasion facilitation red flags.
•    Governance & Training: Auditing the effectiveness of governance structures and training programs designed to prevent tax evasion facilitation.

•    Professionalism
•    Performance
•    Environment