Transaction Monitoring and Financial Crimes

Course details

Many millions of financial transactions are taking place across the globe every second. Transaction monitoring helps financial institutions instantly monitor transactions to combat financial crime and prevent frauds.

Transaction monitoring assesses historical and current customer interactions to provide a holistic picture of customer activity including transfers, deposits, and withdrawals. The assessment helps to raise alerts and investigations are done to confirm any financial crime or fraud being perpetuated.

Why should one take Certificate in Transaction Monitoring and Financial Crimes?
The transaction monitoring helps to identify individuals, groups and organizations involved in frauds or financial crimes like terrorist financing, money laundering, and other crimes. Financial institutions and banks are mandated for AML compliance by implementing transaction monitoring. Transaction monitoring has gained importance due to increased financial crimes across the globe.

Vskills Certificate in Transaction Monitoring and Financial Crimes provides a hands-on approach to understand the nuances of transaction monitoring as well as understand AML and alerts to identify any financial crime.

The certification attests to your understanding and applying skills and knowledge in and helps you to stand out amongst your peers to help in gaining better career ; 

The certification covers

• Financial Crimes
• Financial Crime Prevention
• Transaction Monitoring Alert Generation
• Alert Investigation

Who will benefit from taking Certificate in Transaction Monitoring and Financial Crimes?
Professionals, managers, executives working in AML-KYC or financial crimes domain of financial institutions, banks, delivery centers of  MNC financial institutions will benefit immensely by opting for Vskills Certificate in Transaction Monitoring and Financial Crimes to gain an edge in the transaction monitoring skills and be noticeable amongst their colleagues as well as make progress in their respective careers.

Students taking the certification also gain by showcasing their understanding of Transaction Monitoring and Financial Crimes and are able to increase their job opportunities.
 
Benefits of Certification

• Government certification
• Certification valid for life
• Lifelong e-learning access
• Free Practice Tests

 
How It Works

1. Select Certification & Register
2. Receive Online e-Learning Access (LMS)
3. Take exam online anywhere, anytime
4. Get certified & Increase Employability

Test Details

• Duration: 60 minutes
• No. of questions: 50
• Maximum marks: 50, Passing marks: 25 (50%).
• There is NO negative marking in this module.
• Online exam.

 
TABLE OF CONTENT

Money Laundering Basics

• What is Money Laundering?
• Process of Money Laundering
• Money Laundering Methods
• Politically Exposed Persons
• Money Laundering – Case Studies
• Prevention of Money Laundering Act, 2002 (PMLA)
• RBI Guidelines regarding AML
• AML-KYC International Legislation and Cooperation
• Money Laundering Risks
• Money Laundering Risk Assessment

Financial Crimes

• What is a Financial Crime?
• Who commits Financial Crime?
• Types of Financial Crime
• Financial Crime Risk Assessment
• Financial Crime Controls
• Financial Crime Compliance Statement

Transaction Monitoring and Financial Crime Prevention

• Transaction Monitoring Basics
• Approach of Banks for Monitoring of Transactions
• Essentials of Transaction Monitoring Process
• Methods of Monitoring
• Suspicious Transaction
• Name Screening
• Transaction Laundering
• Transactional Profile
• Transaction Monitoring in Banks
• AML Transaction Monitoring Issues
• Successful Transaction Monitoring Components
• Transaction Monitoring Operations

Transaction Monitoring Alert Generation

• Financial Crimes Indicators
• False Positive Alarms
• Suspicious Transaction Monitoring Scenarios
• Effective Transaction Monitoring Tuning

Alert Investigation

• AML Alert Investigation Basics
• Sources of AML Investigations
• AML Alert Investigation Process
• Conducting the AML Investigation
• AML Alert Investigation Challenges
• Effective AML Alert Investigations Best Practices

Outcomes of Transaction Monitoring Investigations

• STR Filing Decision-making
• Closing the Account
• Communicating with Law Enforcement
• Investigations by Law Enforcement
• Law Enforcement Investigation against Financial Institution
• Cash Transaction Reporting (CTR)
• Counterfeit Currency Reporting (CCR)
• Suspicious Transaction Report (STR)
• Non-Profit Organization Transaction Reports (NTRs)
• FIU-India’s XML Reporting Format
• STR Reporting
• SAR Reporting
• Account Based Data Files
• Transaction Based Data Files
• AML Investigation Case Study
• Using Microsoft Excel for Transaction Monitoring and Financial Crimes Detection

Updated on 03 January, 2024