Course Type: Risk management

The FIU CONNECT (Economic Sanctions) training program from ManchesterCF advises participants on the purpose of sanctions, the consequences of non-compliance and methods that can be used to detect and mitigate sanctions risk.

Financial intelligence professionals recognise that financial crime is a constant threat. Criminals and terrorists are becoming ever-more resourceful in their ways of moving funds across borders by abusing banking products.

Economic sanctions, by their very nature, are meant to stem the financial flow of criminal entities, terrorist networks or rogue nations. Allowing groups or nations to side-step sanctions barriers means that the illicit behaviour will never be addressed and corrected. Financial institutions found to be in breach of sanctions can incur immense fines and disastrous reputational damage.

Nations must enact AML laws to prevent criminal entities from moving the proceeds of crime through the global economy. Without effective AML/ATF legislation and regulations, it can be difficult for countries to maintain social, economic and political stability. Banking supervisors must ensure financial institutions are aware of sanctions and have robust controls in place that reduce the risks associated with sanctions.

The training program is designed from an international perspective. Course components include a digital textbook, computer-based training and an examination. These digital components can be hosted by ManchesterCF or via an institution’s learning management system. The online training contains animated examples and learning activities.

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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