Certificate in Sanctions Compliance Foundations
Enroll in the Certificate in Sanctions Compliance Foundations and take your Compliance Career to the next level!
Course Description
Depending on the circumstance, a sanction is a limitation imposed by a regulatory body or state to manage economic and financial conditions and reduce the danger of criminal activity. There are various kinds of sanctions, such as financial and economic sanctions.
Organizations including banks, insurance firms, brokerage houses, and other enterprises must identify, screen, and verify customers. A crucial step in the Know Your Customer, or KYC, and onboarding processes is sanction screening. It is one of the crucial components of the overall compliance program that must be carried out for customer screening and screening that is related to transactions.
This certificate program is a four-module foundational course that covers key sanctions compliance principles that firms must follow to reduce the risk of money laundering and terrorist financing situations. The laws governing foreign sanctions, the structure for sanction compliance, and the screening mechanism are also covered.
What You Will Get From This Course
In-demand Skills
Gain the relevant knowledge to ensure that you are supporting your firm and progressing your career.
Career Credential
Get a certificate from the FCA Financial Crime Academy.
Flexibility
Study on-demand and at your own time and pace, regardless of where you are in the world with this flexible online course.
Global Community
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Course Material
Download supplementary course material such as the comprehensive course study guide.
Quiz Questions
Test your knowledge with multiple-choice questions and determine which skills you have mastered!
Course Overview
- Explain the term sanctions in the context of economic and financial sanctions
- Understand how international sanctions work including extraterritoriality and blocking statutes
- Learn about the severe consequences of sanctions violations for organizations and individuals including case studies and examples
- Get to know selected international sanctions regulations including United Nations, United States/OFAC, European Union, Australia, and the United Kingdom
- Understand the Role of international standard-setters such as FATF and the Wolfsberg Group
- Comprehend typical root-causes for sanctions compliance program failures
- Understand how to manage sanctions risks by implementing an effective sanctions compliance program
- Understand how to manage sanctions risk with effective sanctions screening
- Explain the pillars of an effective sanctions screening program
- Relevance of KYC for Effective Sanctions Screening
For participating in this Certificate Program, you will need an electronic device with online video-viewing capabilities (e.g., smartphone, tablet, laptop, desktop computer, etc.). You will need no previous knowledge in compliance or anti-financial crime, although this is helpful. A background in business, legal, or finance might also be beneficial but is not required.
This Certification Program is presented entirely online. Modules can be completed in your own time and at your own pace. This interactive, supportive teaching model is designed for busy professionals and results in unprecedented certification rates for Certification Programs.
Course Curriculum
- Introduction to the Program
- Introduction to This Module
- What are Sanctions? How do Sanctions Work?
- History and Evolution of Sanctions
- Different Types of Sanctions
- Subjects of Sanctions
- Extraterritoriality of Sanctions
- Blocking Statutes
- Relevance of Sanctions for Organizations
- Overview of Sanction Fines
- Case Study – Fines on Banks due to Sanctions and Non-Compliance
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Introduction to This Module
- Who Imposes Sanctions?
- United Nations: Overview, Adoption, and Enforcement of Sanctions Legislation
- European Union: Overview, Adoption, and Enforcement of Sanctions Legislation
- United States: Overview, Adoption, and Enforcement of Sanctions Legislation
- United Kingdom: Overview, Adoption, and Enforcement of Sanctions Legislation
- Australia: Overview, Adoption, and Enforcement of Sanctions Legislation
- FATF: Relevance for International S
- Wolfsberg Group: Guidance on Sanctions Screening
- Case Study: Role of OFAC in Sanctions Screening
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Introduction to This Module
- Typical Root Causes of Sanctions Compliance Program Failures
- Overview of OFAC Guidance on an Effective Sanctions Compliance Framework and Applicability Beyond the United States
- Sanctions Compliance Framework Element #1: Management Commitment
- Sanctions Compliance Framework Element #2: Sanctions Risk Assessment
- Sanctions Compliance Framework Element #3: Internal Controls
- Sanctions Compliance Framework Element #4: Testing and Auditing
- Sanctions Compliance Framework Element #5: Training
- Case Study: Implementation of OFAC Sanction Compliance Program
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Introduction to This Module
- Relevance of Sanctions Screening of Transactions and Customers for Organization
- Overview of the Sanctions Screening Program
- Core Pillar #1: Sanctions Screening Policies and Procedures
- Core Pillar #2: Responsible Person or Sanctions Compliance Officer
- Core Pillar #3: Sanctions Screening Risk Assessment
- Core Pillar #4: Internal Controls relating to Sanctions Screening
- Core Pillar #5: Sanctions Screening Effectiveness Testing
- Relevance of KYC for Effective Sanctions Screening
- Case Study: Design of the Sanctions Compliance Program in Practice
- Module Summary
- Multiple Choice Quiz
- Further Reading and References
- Final Assessment
- Completing the Program
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Frequently Asked Questions
All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, a smartphone or table, and a stable internet connection.
Absolutely! All the files (including study guide, audiobook, course slides, etc.) in a course are available for download. Just look for a module that shows the files within a course.
You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines.
Yes, FCA is accredited by the CPD Standards Office® (CPD) to maintain training standards.
None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification.
All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.
Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 60% passing grade.
Students are required to complete an online assessment (mostly multiple choice questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 60% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need.
While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries.
Based on hundreds of reviews from thousands of students we know how the Financial Crime Academy’s courses have helped so many people advance their anti-financial crime, compliance, and risk management careers. Our courses are designed to teach in-demand skills and relevant background knowledge of subject matter expertise needed in practice.
Email us and we'll be happy to answer any of your questions.
10 Learning Hours
Unlimited Lifetime Access
Access on Mobile and TV
Certificate of Completion
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Interested in Group Training?
Empower your teams with the leading anti-financial crime, compliance, and risk management training and certifications.
10 Learning Hours
Unlimited Lifetime Access
Access on Mobile and TV
Certificate of Completion
Share
Interested in Group Training?
Empower your teams with the leading anti-financial crime, compliance, and risk management training and certifications.
Learn In-Demand Skills with On-Demand Courses
Gain the relevant skills and knowledge to ensure that you are supporting your firm and progressing your career.
We are the most disruptive online education provider for the global anti-financial crime community — Fighting financial crime with online education!
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