FIU CONNECT (Corruption)

The FIU CONNECT (Corruption) training program examines real-life case studies to help financial institutions defend against corruption scandals that could otherwise severely damage the organisation’s reputation.

For financial institutions and FIUs to implement a robust risk-based strategy that regulatory authorities demand, they must first understand the various dimensions of corruption. Procurement, conflict of interest and civil service are all areas where financial institutions can encounter corruption from both external and internal channels.

Turning a blind eye to corruption can lead to regulatory failures and even criminal prosecution.

Financial institutions and their supervisory bodies must ensure that they have in place a solid compliance regime as well as the requisite expertise to identify and mitigate the threat of corruption.

Above a certain level, money laundering and corruption work in tandem. A financial institution’s inability to maintain anti-corruption defences can lead to severe consequences. Anti-corruption training is one of the most critical components of a financial institution’s compliance regime.

International research, industry-specific examples and red-flag indicators are incorporated into ManchesterCF’s FIU CONNECT (Corruption) training program. Without specific training, financial institutions run high levels of risk in their financial crime compliance programs.

Regulators are demanding increased attention to detail within a financial institution’s AML/ATF training. ManchesterCF’s solutions meet then exceed those expectations.

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