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This facilitated workshop is designed for all bank employees. A mixture of recent real cases and scenario analysis, including previously imposed legal penalties, fines, business limitations, and licence revocations will be discussed and assessed. This will enable a better understanding of the evolving intersection between business and customer empowerment, and ever increasing regulatory scrutiny and expectations.
By the end of this course, you will be able to:
- Position fraud as the symptom of unethical behaviour
- Develop understanding of the broad arena of business fraud today and its salient trends
- Identify the red flags in fraud detection
- Build understanding of what is expected in managing the fraud risks of the organisation
- Make the links between increased fraud risk and its impact on an organisation’s reputation as well as the employee’s personal reputation
Course Programme – A Four Hour Course
Session 1 Culture & Conduct
- Compliance and Risk Culture
- Compliance & Conduct
- Conduct Risks & Conduct Costs (CCP)
- Ethical misconduct and share price
- Conduct regulation; SMCR, MIC, BEAR, and the impending accountability regime in Singapore
Session 2 Ethics Fundamentals
What are Ethics?
The role of ethics in society
- Overview of the history and development of ethics
- The letter of the law versus the spirit of the law
- Customs and conventions – how ethics and moral values differ between cultures
- Why ethical decision-making is important within the private sector
- Consequences of unethical behaviour
Session 3 Critical Elements of Ethical Thinking
- What are ethical frameworks
- How can they be applied at work?
Session 4 Impact of Digitisation for the Financial Services Industry
The next revolution? Or evolution? FinTech, RegTech, and DataTech
Digitisation; what does this mean and when will consumers fully embrace this?
Non-face to face verification?
- Regulatory and legal implications including our responsibility and compliance obligations to conduct adequate due diligence
Cyber threat vulnerability of entrenched systems, such as SWIFT:
- Repeated cyber and data breaches in recent years
- The Bangladesh Bank heist; logistics, detail and implications for increase of such systems and processes
Session 5 Cyber Security
What is cybersecurity?
How is cybersecurity compromised?
- What is malware?
- What are the different types of malware?
- Viruses & Worms
- Spyware & Trojan Horses
- Case Study – Lazarus Group
- An overview of social engineering as a type of fraud
- Singapore & Online Threats
- Case Study – NUS & NTU hackers
- Nigerian 419 Scam
- Case Study – Sony Pictures Entertainment
- Online Scams – how to look out for tell-tale phishing signs?
- Phishing over the phone
Who should attend
Relationship Managers, Private Bankers, Wealth Managers, Client Advisors and other Client Facing Bank Personnel