Training

Most legislation in the area of combating financial crime is designed to help reduce the benefits of money laundering and other criminal activities involving terrorists, drug dealers, organized crime, fraudsters and other perpetrators of financial crime. In response, most firms have implemented programs to reduce their organization’s risk exposure to these vulnerabilities. Key aspects of such compliance programs are implemented to meet two different objectives:

•  Reduce potential liability for non-compliance with the new regulatory requirements.

•  Reduce potential liability for handling of funds involved in financial fraud, as international recovery agents look to recover funds from financial institutions that have, either intentionally or unintentionally, become pregnant with liability for:

◊  Their participation in the transfer of tainted funds

◊  Their involvement in enabling the financial criminal

◊  Vulnerabilities that are exposed by their intentional or unintentional involvement with the activities of such criminals.

If these two objectives are met, the program is considered to be successful, independent of the consequences of the measures taken.

Unfortunately, this approach also has three inevitable consequences:

•  Money is wasted on measures that serve no purpose, and are not required by any rational standard.

•  Customers will be driven to institutions with less-unreasonable policies.

•  Fear of risk will be so high that the institution will refuse customers that they should be taking, and thus needlessly lose revenues.

To address this, training in the areas of anti-money laundering compliance, fraud prevention and detection, and other related areas are often provided through generic pre-packaged online programs. Many of these are elemental in nature and provide information with varying degrees of efficacy.

Such pre-packaged courses are adept in providing core basic subject matter information. But they cannot take into account the nuances that are present in your particular region or within your lines of business. Nor can they delve deeply into subject matter as it pertains specifically to your business, or provide the depth of expertise that is critically required to successfully thwart fraud and other financial crime.

Training for Financial Services Firms and Corporations

FE&E, Inc. can help by working with your firm to collaboratively provide training that is specifically tailored to your industry and to the needs of your business. Our unique experiences and focused skill sets allow us to provide training that is on target and that provides the practical depth necessary to not only address program objectives but to actually thwart the effects of financial crime.

Training is available either on-site or via targeted web-based seminars to help you meet both the regulatory compliance and risk management objectives of your firm as well as allow your employees to gain practical insights into matters that will reduce your firm’s vulnerabilities related to:

•  Anti Money Laundering processes, procedures and practice

•  Customer Information Programs

•  Sanctions Compliance Programs

•  Due Diligence Processes and Practices

•  Executive and Key Employee Background Screening

•  Fraud Identification and Detection

•  Fraud Prevention

•  Occupational Fraud & Abuse

Non-financial corporations also face numerous risks and vulnerabilities from fraud or other criminal activities which adversely impacts the business, either as a result of the actual behavior itself or from the reputational harm associated with the suspected activity.

Many corporate organizations face significant risk from both internal and external sources – whether from employees perpetrating an action for personal gain, to entities who take advantage of a firm’s intellectual property and critical information, or from external threats by those who perpetrate physical breaches to the technological infrastructure of the organization.