Summary

This course covers the operation and risks of Hawala and other Informal Value Transfer Systems (IVTS), focusing on their potential misuse in financial crime.

This course is one of several courses within the Certificate in Predicate Criminality. If you wish to achieve this award, you must complete this course along with all other mandatory courses in the associated learning plan.

Audience

Course Objectives

• Define Hawala and other IVTS, understanding how they operate and differ from traditional financial systems

• Identify red flags associated with IVTS transactions and clients that may use such systems

• Understand the regulatory and compliance challenges linked to Hawala and IVTS in preventing money laundering, terrorist financing, and other illicit activities

• Apply due diligence and enhanced monitoring to detect and report suspicious activities potentially linked to IVTS

Course Structure

• Section 1: Introduction to Hawala and Informal Value Transfer Systems (IVTS)

• Section 2: Risks and Compliance Challenges Associated with IVTS

• Section 3: Identifying Red Flags in IVTS Transactions

• Section 4: Due Diligence and Enhanced Monitoring for IVTS Risks

• Section 5: Case Studies

• Knowledge Evaluation

Duration & CPD Hours

This course should take you between 45 and 90 minutes, depending upon your pace of learning. Additionally, this course is accredited by The CPD Certification Service and carries 1.5 CPD hours.