Summary

This course provides finance industry professionals with an overview of the Monzo Bank money laundering case and the AML control failures that led to regulatory enforcement. Participants will explore the underlying compliance, governance and operational weaknesses, recognise key financial crime red flags, and learn practical lessons for strengthening AML controls and preventing similar failures within their own organisations.

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

Audience

This course is for finance professionals who wish to learn from the Monzo Bank money laundering scandal and apply those lessons to strengthen their AML compliance programmes.

Course Objectives

• Understand the factual background of the case

• Identify why Monzo Bank failed AML controls
• Analyse broader control findings in the challenger bank environment
• Understand key operational, cultural and governance factors that led to Financial Conduct Authority (FCA) action
• Recognise financial crime red flags
• Apply best practise lessons to their own environment
  

Course Structure

• Section 1: Overview of the Monzo Bank Money Laundering Scandal
• Section 2: Specific AML and Compliance Failures identified
• Section 3: Key Red Flags in the Monzo Bank Scandal
• Section 4: Root causes and Remediation
• Section 5: Lessons Learned from the Monzo Bank Scandal
• Section 6: 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.