About this course
The offshore industry has long been the target of political ire and, of late, has become the focus of attention for politically motivated pressure groups. However, its functions have developed because of the historial disadvantages of small jurisdictions, some landlocked and some islands, and their specific needs.
As global communications have become quick, easy and cheap, access to those services has become quick and easy but, of course not cheap.
The abuse of the offshore centres by criminals for a variety of purposes, throws back to the days of buccaneers and pirates stashing their loot, hidden from their patrons, enforcement, tax collectors and, of course, the original owners of the goods.
Today, we talk of "assets" rather than "treasure" and most offshore centres have nothing to do with that history but the essential principles - without the romantic notions - live on.
The role of private banking in relation to financial crime has become very confused as conflicting definitions of private banking have been widely used.
In this Essentials course, we explain those conflicts. We also explain the use of "Family Offices" and their similarities to private banking.
Both Private Banking and Family Offices are at high risk of being used by money launderers and terrorist financiers.
That means that these businesses must take great care over those they deal with.
Equally, it means that those who deal with them must take great care when dealing with those providing these services.
And, of course, we deal with the reality that "offshore" is not a type of jurisdiction - it is any jurisdiction that provides services to those who are not citizens or residents of that jurisdiction - and we explain why "jurisdictions" and "countries" are often not the same thing at all.
This course is, therefore, for all those who work in or manage private banking or family offices and for those businesses that provide services to and deal with them. It is also, of course, for their regulators and relevant enforcement agencies.
Level : Front Liners to Directors
Certificated: Yes, 12 months from completion of examination
Examination: pass mark 80%; validity 12 months, retakes are allowed.
Portable CPD where recognised: 8 hours.
cFCRC points: 20
Price and syllabus as shown on the course page at https://learning.financialcrimeriskandcompliancetraining.com/courses/ess...
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