This module equips learners with the skills and knowledge to identify, assess, and report potentially suspicious or unusual financial activity in line with regulatory requirements and organisational policies. Learners will explore the principles of proactive monitoring, understand the legal obligations for cash threshold reporting, and apply a risk-based approach to strengthen decision-making in compliance operations.
By the end of this module, learners will be able to:
Undertake Monitoring of Transactions
Implement effective transaction monitoring processes to identify anomalies, trends, and red flags.
Assess Suspicious Transactions and Activity
Analyse transaction patterns and behaviours to determine when escalation or investigation is required.
Conduct Cash Threshold Reporting
Apply relevant regulatory requirements for identifying, recording, and reporting transactions that meet or exceed prescribed cash thresholds.
Apply a Risk-Based Approach
Use a proportionate, evidence-based method to prioritise monitoring and reporting activities based on client risk profiles, product risks, and sector risks.
Transaction monitoring and reporting are critical safeguards in the fight against money laundering and terrorist financing. By mastering these skills, compliance professionals can detect risks earlier, respond effectively to suspicious activity, and protect the integrity of the financial system while meeting both local and global compliance obligations.
Note:
The total point allocation for completing this module is 30 points, awarded as follows:
| Activity | Points |
|---|---|
| Completion of the eLearning module | 10 |
| Completion of Assessment | 20 |
| Total | 30 |
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