Certificate in Refugee and Migrant Health
… illustrates large‑scale IDP movements. Because IDPs do not cross an international border, they do not qualify for refugee protection under international law, yet they face similar health risks, including lack of access to clean water, nutrition, and psychosocial support. Forced migration – movement compelled by conflict, persecution, natural disaster, or development pr …
Ship Inspection and Audit Techniques
… compliance review, auditors verify that the B/L matches the cargo manifest and the stowage plan. A common issue is the presence of multiple B/Ls for the same cargo, which can indicate fraudulent practices or clerical errors. Stowage Plan is a detailed layout that shows where each cargo item will be placed within the vessel’s compartments. It is developed to ensure we …
Customer Due Diligence
… reviewing and updating information about a customer throughout the business relationship. It is a core component of customer due diligence (CDD) and is designed to detect changes in risk that may require a reassessment of the customer’s profile. The purpose of ongoing monitoring is to ensure that the financial institution remains aware of the customer’s activities …
Customer Due Diligence
Enhanced Due Diligence (EDD) is a set of additional investigative procedures applied when a customer or transaction presents a higher risk of money laundering, terrorist financing, or other illicit activity. EDD goes beyond the standard Customer Due Diligence (CDD) measures by requiring deeper analysis of the client’ …
Customer Due Diligence
… is the process by which a financial institution collects and verifies information about a client before establishing a business relationship. The primary objective is to assess the risk that the client may be involved in money laundering, terrorist financing, or other illicit activities. CDD requires a systematic approach that integrates multiple data points, ris …
Customer Due Diligence
Customer Risk Assessment is the systematic process of evaluating the potential risk that a client may pose to an organization’s compliance, financial, and reputational standing. In the context …
Fraud Risk Assessment and Management
Fraud Governance is the overarching system of policies, procedures, and structures that an organization puts in place to prevent, detect, and respond to fraud. It begins with a clear to …
Fraud Risk Assessment and Management
Fraud refers to any intentional deception made for personal gain or to cause a loss to another party. It encompasses a wide range of illicit activities, from simple misappropriation of …
Fraud Risk Assessment and Management
Fraud is the intentional deception or misrepresentation made by an individual or group that results in a financial or other benefit. It can take many forms, from simple payroll manipula …
Fraud Risk Assessment and Management
Fraud Impact Analysis is a systematic process used to quantify the potential consequences of fraudulent activity on an organization. It involves identifying the various types of loss th …
Fraud Risk Assessment and Management
Fraud risk identification begins with a clear understanding of the fundamental concepts that shape the investigative landscape. The term fraud refers to intentional deception designed t …
Compliance and Anti Money Laundering
Ethics and Governance in the context of compliance and anti‑money laundering (AML) is a multidisciplinary field that blends legal requirements, corporate responsibility, risk management, and cultural expectations. Understanding the terminology is essential for professionals working within an Ethics and Governance Office, as precise language shapes poli …
Compliance and Anti Money Laundering
… is the natural person who ultimately owns or controls a customer, even if the legal title is held by a corporate entity. Identifying the beneficial owner is essential for assessing risk, as hidden ownership structures can be used to conceal illicit activity. For example, a shell corporation registered in a low‑tax jurisdiction may be owned by a politically expose …
Compliance and Anti Money Laundering
Regulatory Risk refers to the possibility that a firm will suffer financial loss, operational disruption, or reputational damage as a result of non‑compliance with laws, regulations, or superviso …
Compliance and Anti Money Laundering
… Exposed Person (PEP) is an individual who holds or has held a prominent public function, as well as their immediate family members and close associates. Because PEPs are at higher risk of involvement in corruption, many AML regimes require enhanced scrutiny of transactions involving them. For example, a PEP may be a former minister who now serves on the board of …
International Anti Money Laundering Standards
… by national and international anti‑money‑laundering (AML) frameworks. The purpose of these reports is to provide regulators with timely insight into the activities that may pose a risk of illicit finance, to enable the detection of suspicious patterns, and to support the enforcement of compliance. In the context of International Anti Money Laundering Standards , …
International Anti Money Laundering Standards
Risk assessment is the systematic process of identifying, analysing, and evaluating the potential for money‑laundering activities within a financial institution or designated non‑finan …
International Anti Money Laundering Standards
… institution or designated non‑financial business and profession (DNFBP) must perform in order to understand who its customers are, the nature of the business relationship, and the risk of illicit activity that may arise. The following glossary covers the most frequently encountered terms and concepts that students of the International Anti‑Money Laundering Stand …
Regulatory Compliance Management
… manuals, flowcharts, or checklists. An example is the “Customer On‑boarding Procedure” that operationalizes a “Know Your Customer (KYC) Policy” by describing document verification, risk assessment, and approval workflows. Regulation is a rule issued by a governmental authority or an independent regulator that has the force of law. Regulations are mandatory, and n …
Regulatory Compliance Management
… raw data into actionable information, highlighting trends, deviations, and areas requiring corrective action. A typical compliance report might include a summary of audit findings, a risk matrix, and recommendations for remediation. In practice, reporting can be performed through dashboards, written narratives, or formal submissions to regulatory agencies. The chal …
