FIU CONNECT (Correspondent Banking)
The FIU CONNECT (Correspondent Banking) program from ManchesterCF is designed for international financial institutions and financial intelligence units to assist in implementing the risk-based approach.
Regulators around the world have high expectations that international banks will enact robust defences against money laundering and terrorist financing
within their global correspondent banking business.
Recent actions by financial sector supervisors in many G7 countries have extracted large settlements from major international banks. A true compliance culture has never been more important for correspondent banks and their respondents.
The most important weapon against financial crime is training, as informed staff can quash dangerous transactions and prevent client relationships from escalating into major events that hit headlines and upset regulators.
The training program is designed for correspondent banking sales, payments operations, risk management, audit and AML compliance staff at financial institutions.
Case studies and recent bank supervisory actions are examined for current themes in regulatory enforcement and how they impact the operation of a global correspondent banking business in modern world financial markets.
The version for financial intelligence units includes an overview of the basic mechanics and products of international correspondent banking networks.
Regulators are demanding increased attention to detail within a financial institution’s AML/ATF training. ManchesterCF’s solutions meet then exceed those expectations.