Anti Money Laundering – Singapore

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An IBF Accredited Course

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 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 should do this training?

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

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ESG

ESG – Singapore Financial Services

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An IBF Accredited Course

Implementing ESG principles in Singapore financial services organisations. ESG (Environmental, Social, and Governance) encourages organisations to act responsibly on environmental and social issues in the way they operate and do business. Underpinned by effective governance, this course illuminates the benefits of ESG – not only for businesses, investors, and consumers, but also for the planet and broader society.

This is an informative three-module course which provides a unique opportunity for organisations to upskill and enhance their employees’ understandings of ESG.

Framing the issue of climate change as a corporate concern:

  • Module 1: Will increase understandings of how organisations can ensure their operations are environmentally friendly.
  • Module 2: Will illuminate the role organisations play in creating a more equal society. The challenges of modern slavery and geopolitics are conveyed in an informative and effective manner, prompting learners to reflect on the importance of social governance.
  • Module 3: This module will enhance employees’ knowledge of the least understood yet most important dimension of ESG – governance. Learners will understand how different features of organisations can promote good governance.

Who should do this training?
This compliance training course is designed for all employees and employers alike. ESG is only effective when it is implemented by diverse stakeholders across entire supply chains. Boards of directors, managers, and employees all have a part to play in ensuring an organisation is sustainable, equitable and promotes good governance.

Fraud awareness – International version

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The most powerful anti-fraud weapon are educated and aware employees.

Fraud exists in almost every workplace, regardless of the type of industry, the size of the organisation and even the job role of the employee. It also often goes undetected by other employees. However, when fraud comes to light, it is more likely to be detected by a tip-off from colleagues than by any other means.

The cost fraud brings to an organisation is enormous and rising every year.

A recent global study by the Association of Certified Fraud Examiners found that in 2018 fraud resulted in over $9 billion in losses, with 22% of cases costing over $1 million. Fraud was not limited to large businesses: small businesses lost almost twice as much per scheme to fraud as businesses with over 100 employees. It is therefore crucial that all staff in all organisations know how to recognise fraud and who to report it to.

Prevalent fraud not only costs the organisation but it also carries large fines and penalties for the individual.
This course teaches employees the following:

  • How to identify fraud in the workplace.
  • Understanding the consequences of fraud for both the fraudster and the organisation.
  • Preventing fraud from occurring.
  • Report fraud where it is suspected to occur.

Building a culture of awareness and responsibility can reduce the risk of fraud and increase detection rates, thereby reducing the monetary and other costs of fraud.

The training features advanced graphical interactions and video-scenarios to illustrate the material and relate it to learner’s work experience.

Who should do this training?

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: What is fraud?
  • Module 2: Fraud risks
  • Module 3: Common fraud schemes
  • Module 4: Fraud red flags
  • Module 5 :Risk management‍

Anti Bribery & Corruption – Singapore

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Course Description

Preventing bribery and corruption in Singaporean workplaces

Singapore is not immune to the risk of bribery and corruption, having devastating consequences on business, the economy and society. This course will equip employers and employees with the skills in preventing bribery and corruption and subsequently protecting the integrity of organisations.

Anti-Bribery and Corruption Singapore is a comprehensive four-module course equipping learners with the skills to identify and act appropriately when dealing with bribery and corruption.

Employees and employers will understand Singapore’s domestic regime, primarily governed by the Prevention of Corruption Act, and international legal regimes safeguarding against bribery and corruption. They will learn how to distinguish between bribes and bona fide gifts and the serious consequences of giving or receiving bribes.

Where engaging with overseas stakeholders present unique opportunities for Singaporean organisations, learners will also be informed in how to manage the challenges that arise in such partnerships. The final module will focus on what employers can do to circumvent bribery risks and the importance of developing a risk management strategy.

Who should do this training?

This training is designed for all employees and employers alike working in Singapore.

Everyone has a part to play in preventing bribery and corruption, and knowing what to do if they are confronted with such risks.

The final module is designed for employers, who have an obligation to prevent bribery and develop risk management strategies.

Other GRC Solutions financial crimes courses

We offer a suite of relevant courses, written and kept up to date by legal and compliance experts, and covering multiple world jurisdictions

Including

  • AML
  • Anti-Bribery and Corruption
  • Cybersecurity
  • Fraud  Awareness

Click here to see the full list

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Course Outline

  • Module 1: Introducing bribery and corruption – for managers and general staff
  • Module 2: Soliciting and receiving bribes – for managers and general staff
  • Module 3: Working with overseas countries – for employees doing business internationally
  • Module 4: Advanced bribery and corruption – for managers

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Trade Based Money Laundering

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Course Description

Trade Based Money Laundering is the latest challenge in international money laundering law enforcement.

As the financial community becomes more experienced in recognising and preventing traditional money laundering methods, such as large cash deposits, criminals have explored other means to scrub their ill-gotten gains. International trade and trade instruments are often used as vehicles to launder criminal money.

Businesses involved in international trade need to be vigilant to ensure their trades are not compromised by criminal elements infiltrating their organisations.

Banks need to be aware of the risks to their reputation should their services be found to have facilitated the process of money-laundering.

The sheer volume and international nature of trade can create a cloak of complexity and lack of transparency that financial criminals seek to exploit. This course has been designed by subject matter experts to provide an overview of trade-based money laundering (TMBL) risks. It introduces the core principles and features of TBML and outlines the various methods and techniques used by criminals. It gives a clear explanation of various TBML typologies and supplies practical insights into how to identify money laundering red flags.

Who should do this training?

This course is suitable for

  • banking professionals, particularly client-facing employees,
  • as well as risk management analysts and AML compliance officers across banks and businesses that trade internationally.

Download course outline here .

Specialized Financial Economic Crime Training

GRC Solutions is thrilled to collaborate with leading financial crime advisory firm, i-KYC, pairing their premium content library with our award-winning Salt Learning technologies to improve your approach to addressing Financial Economic Crime (FEC).

Download our brochure here

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For more information on other GRC Solutions’ AML/CTF training resources:

Australia

Anti-Money Laundering– covering the responsibilities of financial services and other businesses in general

Australia – Financial Services

AML/CTF Training for Finance Sector – covering the particular responsibilities of ADIs

USA

Anti-Money Laundering – USA

Singapore

Anti-Money Laundering – Singapore

Malaysia

Anti-Money Laundering – Malaysia

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Course Outline

Module 1: An introduction to trade-based money laundering (TBML) principles

• An introduction to trade-based money laundering (TBML) principles

• Key features of a TBML scheme

• TBML methods and techniques used by criminals

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Module 2: TBML typologies and red flags

• Jurisdictions

• Goods/services

• Corporate vehicles and structures

• Trade finance instruments

• TBML and the role of banks

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