Sanctions are an integral part of the global fight against rising financial crimes including money laundering, terrorist financing, etc. It is a preventive measure implemented by international bodies by prohibiting illicit activities with an aim to protect international law and national security interests. Certified Sanctions Screening Expert is a dedicated program that addresses the requirements of compliance with the regulations.
It defends international peace and security. According to United Nations Security Council, there are at least 14 ongoing sanction regimes. These regimes focus primarily on supporting the political settlement of conflicts.
However, sanctions are not always political. These particularly restrict the individual from trade or business in certain sectors. The financial institutions must merge the economic sanction search with a risk-based approach to money laundering. Sanctions in AML are designed to penalize illegal activities, financial crimes, terrorist financing, etc.
Sanctions lead to arms embargoes. These consist of prohibitions on export, supply, or delivery, making available and transfer of military items and on the provision of technical assistance, financial services and funds, and brokering services related to military items
What is the importance of Sanction Screening?
Sanction screening is regarded as a technique that is the combination of policies, procedures, and technologies that enable the financial industry to not provide any form of services to the sanctioned parties. Sanction screening can be complex and challenging. There are a lot of cases where the sanction screening would act in a negative way. Sanction screening can generate false positives and false negatives.
So it is essential for every financial institution which implements a solution that delivers a satisfactory level of compliance. In 2019, OFAC introduced a framework for helping US firms to initiate and shape economic sanctions in different countries. Similarly, sanctions imposed by the European Union target governments of third countries. It also targets non-state entities like companies and individuals like terrorists.
Overview of Live Virtual Training on Sanctions Screening
Riskpro Learning in association with AML Custodians has launched the Live Virtual Training Certification in AML Sanctions. This program sets a standard for professionals working in AML Sanctions.
Riskpro Learning feels very proud to offer a program to the entrants that provides knowledge as well as skill sets that are essential for the sanction professionals working in the BFSI sector and also with country-specific Regulators. This Certification course offers an exhaustive set of resources for the students. It comprises a Live Training Session where the aspirants would get the knowledge of sanctions in AML.
Syllabus of Sanctions Course
The definition of the term "sanction" is an official order or threatened penalty for disobeying international laws. The primary objective of imposing sanctions is to maintain international peace and security. Sanction screening helps countries to detect financial crimes. The syllabus for International Certification Program is vast and exhaustive. Altogether there are 6 modules that cover all the aspects of the AML Sanction process.
- Various Laws enable various screening parameters which include sanctions, PEP & many others.
- Purpose of screening
- Defining PEP, Sanctions & other screening lists
- Screening data
- Defining Positive & Negative hits
- How to rule out the hits
The syllabus covers various case studies in addition to the screening methodologies.
Overall, aspirants will gain a detailed overview of AML Sanctions concepts as well as in-depth knowledge of the Sanctions process. Moreover, the aspirants would get a thorough understanding of screening and its different parameters, policies, and procedures, the risk-based approach involved, red flags associated with sanction screening, in-house technology implementation required, transaction monitoring for sanctioned parties overview, and sources of a list of software-defined management. This is a certification course that also provides a live training session. The duration of the live training course is 4 hours.
Importance of the sanctions screening certification program
Professionals working in the domains of Sanction Compliance, AML/CTF, AML Sanctions, Regulatory Compliance, Risk Management, Law firms, and Country specific Regulators would find this certification program best suited for them.
One would get a greater awareness of industry practices, problems, and solutions in this area. This certification program has a practical focus.
Learning Outcome
Riskpro Learning sets out with the mission to set an international standard for testing the knowledge of those entrusted in the Anti-Money Laundering and compliance domain. This certification program would benefit the aspirants to understand sanctions, know the different reasons related to sanctions, and understand how the sanctions list and sanction screening take place. The aspirants how the sanction governance framework takes place.
- Become a self-accelerator in screening
- Know the practical application of screening
- Knows the basics from practical experience
- Case study experience
- Aspirants will get the Certification of Completion post 4 hours of training sessions.
Study Material on Sanctions
Indiaforensic has developed study material for the International Sanctions Certification course, which is regularly updated to reflect changes in international sanctions laws and regulations. To make the logistics of distributing this study material more efficient, Indiaforensic has partnered with Amazon. The material is authored by CA Mayur Joshi and Vedant Sangit, CAME.
Participants in the Certified Sanctions Screening Expert course can order the study material from Amazon, which will handle the packaging and shipping of the material. This partnership with United States-based retail giant Amazon ensures that participants receive the study material in a timely and efficient manner, no matter where they are located in the world.
By partnering with Amazon for logistics, Indiaforensic is able to focus on developing and improving the course material, while ensuring that participants have access to the latest information on international sanctions. This collaboration also allows Indiaforensic to reach a wider audience and promote awareness of the importance of compliance with international laws and regulations.
International Certification Examination
On completion of the training programs and reading the study material participants appear for the uniform examination conducted by Indiaforensic. Those who pass the exam with at least 75% marks are then awarded the certification.
Janhavi K –
The main focus of the course is on sanction screening where I understood the process used by the organization it ensures that they don’t-conduct business with individuals and organizations. This course provided by Indiaforensic appears to be well-structured and comprehensive that covers the various aspects of sanction screening, the actual purpose of the screening, a thorough knowledge of screening data etc. The course comprises 6 modules. This course also gives both practical as well as theoretical knowledge. The course also covers the latest technologies and tools used in sanction screening. By doing this course it helped me to understand the sanctions, the different reasons that were related to sanctions understood how the sanction governance framework takes place.
Vijaya Mahale –
I am impressed with the certification course on sanctions provided by Indiaforensic. The course is designed in such a way that even beginners will easily understand the concepts and the explanation provided. I was pleased with the course so I decided to purchase 2 more courses provided by Indiaforensic. The trainer explains each and every topic in a simple way. Overall, I found this course very unique and of high- quality. Thank you so much for providing such an excellent course.
MOHAMMAD AHMAD –
The demand of modern professionals requires a diverse range of knowledge and skills. Simply knowing about sanctions is no longer sufficient in today’s world. Indiaforensic has recognized this and launched a course on Sanctions to provide a Foundational understanding of the sanction screening process. By enrolling in the course, I was able to learn some new concepts that I was unaware of. The course content is designed to be accessible and user-friendly, which makes it an excellent option for anyone interested in this subject matter. I highly recommend this course to anyone looking to expand their knowledge in this area.
V Mathew –
I thoroughly enjoyed it. The subjects were presented in a logical manner, making it easy to grasp the concept. This certificate includes the live training session, which was delivered in a clear and understandable way.
Mohit S –
This course provides immense value for individuals seeking a comprehensive understanding of sanctions and compliance.
Umesh Natrajan –
The Sanction screening course offers a comprehensive overview of sanction screening, covering laws, parameters and methodologies. The practical case studies and expert instructions, provides valuable knowledge and strategies for ruling out false hits. Highly recommended for compliance and financial professionals seeking a solid foundation in sanction screening.
Riya Jha –
The sanction screening is a game-changer for professionals involved in compliance and risk management. The course material is well-structured and easy to understand. This comprehensive training equips participants with the skills and knowledge needed to navigate the complex world of sanction screening effectively.
Aditya Mankame –
I recently completed the sanction screening course, and I can confidently say that it is a must for anyone working in the compliance field. The course not only covers fundamentals but also dives deep into various concepts of sanction screening and best practices. The real-time case studies added immense value, making the learning experience practical and relevant.
sitara sethi –
The sanction screening offers practical learning, that emphasizes real-life case studies and industry practices. It equips professionals with the necessary skills to excel in the field, becoming self-accelerators in sanctions screening. Overall this course is highly recommended for professionals seeking to navigate their complexities of compliance effectively.
Aisha Joshi –
I recently had an opportunity to enrol for the sanction screening certification offered by Indiaforensic. I must say it exceeded my expectation in every way. The trainer’s expertise and teaching style made the learning experience both clear as well as concise. The topics covered were relevant and up-to-date encompassing various aspects of sanction screening data.
Akash Patel –
I am delighted to say that my experience with this course is very positive. The course offered was designed with a clear focus that provided in-depth knowledge of the sanction screening course. The trainer taught us in a very simple way. For beginners, it is the go course. The conceptual clarity is very easy to understand.
Alok Kushawa –
This course gave me a lot of knowledge about sanction screening. It comprises of Live training session that would help the aspirants to understand the sanctions and AML in detail. This program is mainly for professionals working in AML Sanctions. The duration of the live training session is for 4 hours.
Ankur Gupta –
Recently, I completed the Sanction Screening course and I must say it was an enlighting and engaging experience. I liked the trainer’s deep understanding and expertise in his field. The trainer’s explanation is very complex and clear which helps the aspirants to understand the course easily. Throughout the course, the trainer’s proficiency and command of the subject matter was evident. This course was very interactive.
Rohit Joshi –
Great course. It’s been an amazing journey. Thank you Indiaforensic for such an interactive live training sanction screening certification. The trainer explained real-life examples in an easy way to understand.
Chinmay Rajput –
I was exploring a good course in my domain. Then I got to know about the Sanction Screening certification provided by Indiaforensic. While registering I was in doubt that how would the overall session will be conducted, what will I benefit from registering for the course. But my doubts got cleared as the trainer gave a good knowledge of the sanction screening, PEP, what are the different purposes of screening etc. The study material provided is very concise and comprehensive.
Chinmay Rajput –
The certification is designed in a very simple way to understand. It also provides awesome examples of effectiveness. I highly recommend to do this course even if you are not in this domain. The course was straight to the point.
Chaitanya Bhave –
The trainer is a highly knowledgeable person in this field. He effectively coveys complex concepts as well makes the learning experience enjoyable.
Gopal Choudhary –
After the session was over we had an interactive Q&A session where we got to know the different aspects of sanction screening. We could interact with the peers which encouraged us to learn in a conducive environment.
Indraneel Dubey –
This course was worth the money as it made my professional development. It gave me an opportunity to gain knowledge and skills necessary to excel in my field.
Gargi Bansal –
The course content was up to date, incorporating recent industry trends as well as best practices. I recommend opting for this course if they are willing to enhance their expertise in the subject matter.