Product description
The ICA Specialist Certificate in Money Laundering Risk in Correspondent Banking is a focused qualification offered by the International Compliance Association (ICA), designed to deepen knowledge of the specific money laundering risks associated with correspondent banking relationships. This specialized course explores the complexities, vulnerabilities, and regulatory expectations unique to this high-risk area of global finance.
The certification covers the fundamentals of correspondent banking, key risk indicators, and the reasons why this service is particularly vulnerable to abuse. It delves into regulatory frameworks such as FATF guidelines, Wolfsberg Group principles, and various national regulations. Participants will also learn how to implement a risk-based approach to managing correspondent banking relationships, including customer due diligence (CDD), enhanced due diligence (EDD), transaction monitoring, and exit strategies.
This certificate is ideal for professionals working in compliance, risk management, AML functions, and those specifically involved in overseeing correspondent banking services. It equips learners with the practical tools and insights needed to meet regulatory expectations, mitigate risk, and enhance the overall compliance framework within their institutions.
