CQS Core Training: Financial Crime
Financial crime costs the UK millions every year. Do you know the warning signs?By completing this course you will have a solid understanding of financial crime in residential conveyancing, including the Money Laundering Regulations 2017 and your obligations. You will also be able to identify the warning signs and know what steps to take.In easy-to-understand 30-minute modules, you’ll cover everything you need to support your CQS accreditation.
By taking this course, conveyancers will:
- improve their knowledge and understanding of money laundering regulations and their obligations under them
- be able to identify warning signs and ‘red flags’ indicating a higher risk of money laundering
- recognise known methodologies adopted by criminals seeking to launder money or commit fraud through property transactions
- understand what steps need to be taken or what action is appropriate.
What this will cover
This course consists of four modules.
- 1. Money Laundering, Due Diligence and Record Keeping (by Amy Bell)
- 2. Detecting and Reporting Criminal Acts in Relation to Property Transactions (by Amy Bell)
- 3. Common Methods Used to Commit Property Fraud (by Tim Prior)
- 4. Protecting Your Practice and Clients from Cybercrime (by Tim Prior)
Module 1: Money Laundering, Due Diligence and Record Keeping
This module considers the requirements to carry out client due diligence under the Money Laundering Regulations 2017, including the risk-based approach, and takes a detailed look at conducting risk assessments.
Module 2: Detecting and Reporting Criminal Acts in Relation to Property Transactions
This module deals with detecting and reporting criminal acts in relation to property transactions, including the money laundering offences (and defences), consent and disclosure to the NCA. It also looks at the offence of failing to prevent criminal facilitation of tax evasion.
Module 3: Common Methods Used to Commit Property Fraud
This module supports conveyancers in a number of areas around property fraud, including mortgage and identity fraud, vulnerable properties, the implications of Dreamvar, and how to safeguard your client and your firm.
Module 4: Protecting Your Practice and Clients from Cybercrime
The module provides a thorough grounding in mitigating the risk of cybercrime, looking at various methods of attack, best practice for sending and receiving bank details, communicating risks to clients, and your regulatory obligations to protect client money and data.
Assessment (complete e-learning to unlock)
The assessment consists of 20 multiple choice questions. In order to pass the assessment you must achieve a mark of 80%. The assessment can only be taken a maximum of three times before the course must be taken again.