Course Description

THE RATIONALE

This is a practical and thought-provoking course essential for managers and future managers in order to raise their awareness of economic crime in their businesses. There is a need for Criminal Risk Management awareness for business owners, managers, and all stakeholders (both internal and external) as businesses and our world become vulnerable to economic and financial crime.

The development of economic crime, the attacks on the legal economy, and the various illicit stakeholders of economic crime will be studied. This course will propose varied solutions that can be implemented within multinational corporations (MNCs) to protect the legal business against economic crime in order to protect people, business, data, and assets, and anticipate the potential contact with illicit business on their future markets.

Participants in this course will gain an understanding of the economic model of illicit economies, help them identify the presence of illicit stakeholders in their future business environments, as well as enable them to mobilize efficient solutions to mitigate the risks generated when in contact with illicit stakeholders in a company.

THE COURSE OBJECTIVES:

By the end of this training, participants will be able to learn:

• Understand the exposure and consequences of economic and financial crime
• Understand and identify Laws governing operations of agencies involved in the fight against financial crimes
• Describe the key – and evolving – legislation to counter economic and financial crime and the penalties for non-compliance
• Describe the roles of the main agencies in combating economic and financial crime
• Recognize suspicious transactions
• Identify the main types of financial crime and their characteristics
• Explain the regulatory priority given to economic and financial crime and expectations from firms and individuals
• Outline the key anti-financial crime controls that a firm should have in place
• Understand the role of EFCC, ICPC, and CCB

THE COURSE OUTLINE

The course will cover the following:

MODULE 1: THE NATURE OF ECONOMIC AND FINANCIAL CRIME MANAGEMENT

• Understanding Economic And Financial Crime Management
• The Nature Of The Law On Economic And Financial Crime Management
• Money Laundering
• Fraud And Market Manipulation

MODULE 2: CRIMINAL LAW OF FRAUD AND ABUSIVE PRACTICES

• The development of the criminal law of fraud
• The economic and historical context of the law on abusive practices
• Insider dealing and market abuse

MODULE 3: THE ROLE OF EFCC, ICPC, AND CCB

• Market manipulation offences
• Challenging complacency: organizations’ exposure and the financial and reputational impact
• The role of EFCC, ICPC, and CCB

MODULE 4: THE FIGHT AGAINST FINANCIAL CRIMES

• Laws governing operations of agencies involved in the fight against financial crimes
• The agencies and particular industry initiatives

MODULE 5: THE REGULATORY ASPECT OF CRIME MANAGEMENT

• Roles of industry regulation
• Identifying and reporting suspicious transactions and indicators, including Politically Exposed Persons
• Following risk-based procedures: deterrence, prevention, and detection

TARGET AUDIENCE

Legal Officers, Compliance Officers, Chief Risk Officers, and others who perform related functions

Delivery Method: Combines lectures, class discussions, group exercises, illustrations, role-plays and practical application of the topics.

Venue: Open

Duration: 1 week