Customer Owned Banking Code of Practice

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Course Description

This series of five computer-based training modules aims to help train frontline staff to recognise different customer types at the time they open an account. The package also includes the Ready Reckoner of Types of Entities.

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Course Outline

  • Module 1: Individual Accounts: covering individuals, joint accounts, sole traders, partnership, agents, deceased accounts, children’s accounts and business names
  • Module 2: Company Accounts: covering proprietary, public and foreign companies
  • Module 3: Co-operative and Association Accounts: covering registered co-operatives, incorporated associations and unincorporated associations
  • Module 4: Trust Accounts: covering informal trusts, formal trusts, statutory trusts, professional trusts and trust accounts linked to superannuation and managed investments
  • Module 5: Government Accounts + Final Quiz: covering Commonwealth, State and Territory governments, including their agencies and authorities, as well as foreign government bodies. At the end of this module there is a quiz that requires participants to draw on the knowledge from all five modules

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Fair Lending

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Course Description

This training covers what banking staff need to know about the laws and regulations prohibiting discrimination in the extension of credit to consumers

Discriminatory lending can lead to legal and reputational risks for a financial institution. This course will provide an overview of the five laws and regulations that cover discriminatory lending practices, and assist staff in complying with them.

Bank staff need understand that discrimination is not always obvious, and in fact illegal discrimination can take three different forms: Overt, Disparate treatment, and Disparate impact. This short, single-module course covers those forms of discrimination and gives examples.

The course also introduces learners to the five relevant laws and regulations and discusses their functions and the ways in which they work to protect Americans from wrongful discrimination in financial matters

Properly trained staff can help protect a bank from the risk of being prosecuted for discriminatory practices

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who deal with consumers applying for credit.

Scenario

Madison is applying for a loan with Smart Credit Bank for a new condo she wants to purchase. She has a stable job as a librarian at her local high school, though is also receiving Social Security Disability Insurance after being injured in a car accident last year. Despite proving that she has a steady stream of income and appears to meet Smart Credit Bank’s stated eligibility requirements, she receives an email a week later stating that her application has been rejected.

Has Madison been unlawfully discriminated against in this situation?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

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Course Outline

  • Become aware of the three types of illegal discrimination and how they differ
  • Identify the five laws and regulations that make up Fair Lending practices and prohibit discrimination for consumers
  • Understand the resulting actions of illegal discrimination
  • Learn ways to avoid discrimination throughout the credit process

ePayments Code

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Course Outline

  • Module 1: Introduction to ePayments
  • Module 2: Disputed ePayments
  • Module 3: Mistaken ePayments

Basics of Banking

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Course Description

This course consists of short modules, timed to take less than 15 minutes, each focused on an area of banking knowledge that staff need to be familiar with. There are six modules, which can be purchased separately: • Key Regulators • The Banking Business • Customer On-Boarding • Key Players in the Financial Services Sector • And two modules providing an introduction to customer management. More modules will be produced in response to  customer demand.

The modules have summative quizzes. Optionally, the quizzes can be presented at the beginning of each section, allowing learners to bypass areas where they can already demonstrate mastery, thus saving time and improving the learning experience. The modules include scenarios that provide a background to the material covered and its importance in day-to-day banking operations. Where relevant they also include Quick Facts Sheets that learners can download and keep as an aide memoire.

Who should do  this training? The course is suitable for staff undergoing induction and ab initio training in a bank, credit union, building society or similar institution.

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Course Outline

  • Module 1: Key Regulators
  • Module 2: The Banking Business
  • Module 3: Customer On-Boarding
  • Module 4: Key Players in the Financial Services Sector
  • Module 5: Dealing with Customers
  • Module 6: How to Support Challenging Customers

Anti-Money Laundering – USA

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Course Description

In an increasingly interconnected world economy, organizations of all sizes are becoming increasingly vulnerable to being used for money laundering and terrorist financing. Since financial institutions are particularly susceptible, they face wide-ranging reporting and monitoring requirements under federal law.

GRC Solutions’ Anti-Money Laundering course equips staff to respond to these challenges, by helping learners to identify common money laundering techniques, such as placement, layering, and integration, and to apply strategies for protecting your organization.

This course explores the risk that money launders pose, outlines the KYC and due diligence obligations of financial institutions, and explains requirements under terrorist financing law. We also give learners practical tips on how to assess customer risk and monitor suspicious activity.

This coursecovers topics from initial customer identification procedures to development and implementationof anti-money laundering programs.

There are plenty of examples, case studies, and scenarios. The design uses rich, interactive visuals that highlight the key concepts without overwhelming or distracting learners.

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Who is this training for?

This training is suitable for employees of financial institutions that offer: bank account-related services, loans or finance, currency exchange, investment banking, credit cards and money instruments, insurance, or securities, futures, or commodities trading.

Scenario

Robert Howard comes into ABC Bank and wants to deposit $25,000 into his account. He has been a customer of ABC Bank for 25 years and has always been classified as low-risk.

But recent transaction monitoring by ABC Bank has revealed large amounts of money being withdrawn out of his account. Some of the money has been transferred to low-interest accounts and then withdrawn to be used. These withdrawals are unusual for Robert’s account, which has had little activity for 25 years.

The only information ABC Bank possesses about Robert is that he owns two restaurants, a nightclub and a car wash.

What level of money laundering risk does Robert pose?

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Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Suspicious and threshold transactions
  • Module 5: Terrorist financing

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Anti-Money Laundering – Singapore

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Course Description

Training on Anti-Money Laundering Compliance

The Anti-Money Laundering course trains reporting entities and their representatives to understand their anti-money laundering compliance obligations and provides a general understanding of the risks related to money-laundering and terrorism financing.

Over $US1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $US200 billion is laundered in the Asia-Pacific region alone.

Businesses need to prepare an effective anti-money laundering policy consistent with anti-money laundering guidelines.

We explain how to adopt an Anti-Money Laundering program, conduct Know-Your-Customer procedures and to provide reports to the Monetary Authority of Singapore.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who needs to comply with AML regulations?

Singapore’s AML/CFT regime mainly applies to individuals and companies engaged in financial service businesses.

Some obligations vary depending upon the services a company provides.

For example, certain organisations such as banks, financial advisers, life insurers, money changers and trust companies, have additional AML/CFT obligations if they are exposed to a high AML/TF risk.

Nevertheless, the obligations may apply to anyone in the course of his or her professional or business duties, including the duty:

  • to report suspicious transactions
  • not to enter into arrangements that facilitate the retention of benefits of crime
  • not to acquire, possess, use, conceal or transfer benefits of criminal conduct

This anti-money laundering course is for …

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services with a money laundering risk, such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations; anti money laundering policies and procedures
  • Module 5: Terrorist financing

Anti-Money Laundering – New Zealand

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Course Description

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) is the primary legislation intended to satisfy New Zealand’s international obligations to combat money laundering. The Act establishes the grounds for prevention, detection, investigation and prosecution of money laundering.

This course will help you understand the various identification and reporting obligations of the Act as well as related legislation such as the Terrorism Suppression Act 2002. Key concepts and obligations are set out, from corporate compliance, customer relationships, and customer due diligence to suspicious transactions and the suppression of terrorism.

Employees of financial institutions need to understand their obligations under the Act to ensure all reasonable steps are taken to deter their institution and its products and services from being used by a person who is laundering money.

Who is this training for?

You should complete this course if you are involved in a compliance or risk management function, with the processing of financial transactions or with the opening of accounts at a financial institution or casino.

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: Money laundering risks
  • Module 3: Customer Due Diligence
  • Module 4: Monitoring and Reporting Obligations
  • Module 5: Terrorist financing

Anti-Money Laundering – Malaysia

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an Anti-Money Laundering program, conduct Know-Your-Customer procedures and to provide reports to Bank Negara Malaysia.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing

Anti-Money Laundering – Financial Services

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing

Anti-Money Laundering

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Course Description

The Salt Compliance Anti-Money Laundering course trains reporting entities and their representatives to understand their obligations and provides a general understanding of the risks related to money-laundering and terrorism financing. Some sources estimate that over $1.5 trillion is laundered worldwide every year. Of that amount, it is estimated that $200 billion is laundered in the Asia-Pacific region alone.

We explain how to adopt an AML program, conduct Know-Your-Customer procedures and to provide reports to Australia’s anti-money laundering regulator AUSTRAC.

The intent of this course is to provide a general understanding of money-laundering and terrorism-financing risks, and give specific understanding of the various legislative obligations imposed by the Act.

Who is this training for?

The course should be completed by all employees of reporting entities (including those involved in compliance and risk management functions) that offer services such as:

  • providing bank account-related services
  • making loans
  • exchanging currencies
  • issuing debit and stored value cards
  • issuing securities and derivatives
  • stockbroking

Course Outline

  • Module 1: Introduction to money laundering
  • Module 2: The risk of money laundering
  • Module 3: KYC obligations
  • Module 4: Monitoring and reporting obligations
  • Module 5: Terrorist financing