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Financial Crime Analysis

Curriculum

Consists of the following 5 (five) modules plus the Distant Learning Module (DLM):

  • Investigative Research: Using the Internet as an Investigative Research Tool - North America (DLM)
  • Module 1: Legislative and Regulatory Responses & Patterns of Offending and Victimization
  • Module 2: Financial Crime Risk Assessment and Mitigation
  • Module 3: The Intelligence Cycle & Intelligence Analysis
  • Module 4: Data and Patterns Theory & Method for Financial Crime Analysis (Practical Lab Component)
  • Module 5: Conversational Interview & Fraud Investigation

Synopsis

In order to be awarded the Certificate of Completion for the Financial Crime Analysis program, students will be required to successfully complete all 5 five modules plus the completion of Level I of the DLM as outlined above. Students are required to register independently for the DLM program (cost not included in program fees).

The 5 (five) modules (does not include DLM) will include 60 hours of classroom instruction in a 20 week teaching period. Thus, students will have 3 hours of classroom instruction per week. Students should anticipate a commitment of 10 hours per week inclusive of preparation and classroom time. Course offerings will be oriented to early evenings where a given cohort(s) is comprised of individuals who are engaged in full-time work.

Program Aims

  • To assess the framework of anti-money laundering legislation and regulation in Canada, and its relationship to patterns of offending and victimization
  • To provide critical insights into research methods on financial crime trends, indicators and methodologies
  • To develop rigorous intelligence and pattern analysis skills through practical laboratory work using current software, methods and techniques on appropriate data sets
  • To establish high standards of coherent reporting and presentation of financial crime analyses, and sustainable and effective frameworks for ongoing assessment and management of financial crime risks

Methods of Teaching, Learning and Assessment

Students should complete the required preparation to participate fully during all classes. Participants will need to engage in structured and independent study time in addition to classroom time. Students will also be encouraged to contribute work experience, analytical and policy issues, and the application of academic and professional knowledge to address practical and theoretical contemporary challenges. Assessment methods may include, but not be limited to, the use of multiple-choice questions, short answer, laboratory assignments, and essays.

Overview of the Certificate Course Structure

The 5 (five) mandatory courses plus the distant learning module (DLM) that comprise the certificate program in financial crime analysis are discussed below, and the optional thesis component is discussed further below.

Investigative Research: Using the Internet as an Investigative Research Tool – North America (DLM)
This 4-stage distant learning module employs case studies, search tools and reference sites to teach students internet research for financial investigations. Students are required to register to the DLM program independently. Completion of Level I of the DLM is required for the Financial Crime Analysis program completion.  Students can refer to the “Registation” tab for further information.

Module 1 - Legislative and Regulatory Responses & Patterns of Offending and Victimization (4 weeks)
This foundational course provides an overview of Regulatory landscape in relation to Financial crime. It provides context for the issue of financial crime, including its definition, scope and harms, as well as the international and domestic policy and legislative controls designed to limit those harms. It will include a historical recap of Canada’s experience with financial crime (with a focus on organized crime), set against its ratification of treaties, adoption of supranational standards, and consequential amendments to its legislation, law enforcement efforts, and regulatory activities. Additionally, it will address contemporary financial crime typologies and trends, including internet facilitated financial crimes.

Module 2 - Financial Crime Risk Assessment and Mitigation (4 weeks)
This course will have as its central aim the accumulation of insights of the previous courses into a sustainable and effective framework for assessing and managing financial crime risks. Drawing from the exposition of financial crime threats in Module 1, this course instructs students on the development, documentation and evaluation of effective financial crime risk control frameworks. It will include topics such as standards for the reporting and presentation of evidence to render operational and policy findings accessible and compelling for specialist and non-specialist readers. It will also emphasize the monitoring of known and emerging risks, providing efficient support to your existing or prospective management, and contributing toward continuing professional development for yourself and the financial crime analysis sector (e.g. CIFCA networking and conferences/symposia, policy groups, publishing research, etc.).

Module 3 - Conversational Interviewing & Fraud investigation (2 weeks)
Serving as a capstone course, this module teaches students how to effectively interview suspects and witnesses via the use of conversational interviewing techniques and other skills and knowledge acquired in this program.

Module 4 - Data and Patterns Theory & Method for Financial Crime Analysis (Practical Lab Component - 6 weeks)
This course will focus on theories and methods, including statistical approaches, employed in contemporary software applications to mine and analyze financial data to uncover transactions potentially related to financial crime, and techniques used to evaluate their results. Students will be given the opportunity to practice those techniques with case studies using prevalent software applications for data analysis, visualization, and case management.

Module 5 - The Intelligence Cycle & Intelligence Analysis (4 weeks)
A bridge between the theoretical and practical aspects of financial crime analysis, this course introduces the construct of the Intelligence Cycle, and its allocation to financial institutions. Students are then exposed to contemporary financial intelligence unit frameworks, the interdependencies of strategic and tactical intelligence, and the application of critical thinking and problem solving skills. This module also touches on communication methods of investigative report writing & case management.