Combating Financial Crime

Financial systems around the world are transforming lives through economic empowerment and poverty alleviation schemes. But criminals are also taking advantage of loopholes created by globalisation and the digitization of financial systems to commit crimes with increasing boldness. Combating financial crimes like money laundering, tax evasion, corruption, terrorism funding and fraud thus requires financial transparency backed by effective law enforcement and robust legal frameworks.

This criminology and finance course studies the principal money laundering offences contained in the UK’s Proceeds of Crime Act (POCA). We lay out elements of ‘criminal property’ and make a distinction between corruption and money laundering. Because financial crimes are covert and stealthy, many of us never see money laundering firsthand or realise we are all its victims. This course shows you how money is laundered and explains why anti-money laundering efforts are essential in combating financial crime.

We then review European money laundering directives and outline the roles of the reporting officer in policy maintenance and documentation. We demonstrate how to assess risk profiles through customer due diligence (CDD) and risk management programmes. We explain how to recognise suspicious criminal activities, including transactions that serve as part of the ‘layering process’ for money laundering. This course combines criminology and finance to provide the frameworks for tackling drug traffickers, terrorist financiers, corrupt politicians and fraudsters. Sign up to learn how to detect and prevent financial crime.