Within the domain of KYC / AML, “Suspicious Transactions / Red Flags” is one key area that a private banker or wealth manager should be keenly aware of. This course will teach you how to detect and report suspicious transactions. Case studies will be used to deepen the knowledge.

• Private banking heads
• Private banking relationship managers
• Private banking front office customer service officers
• Payment teams

• Understanding what is a suspicious transaction
• Competent in identifying and raising red flags
• Knowing the obligations and how to detect and report suspicious transaction

Regulatory Developments

• Brief review of anti-money laundering objectives
• Front office as first line of defence
• Obligation to detect and report suspicious transactions

How to Identify Suspicious Transactions

• Diligence and reasonable grounds
• No value threshold
• Mosaic theory

Red Flags

• Long list of possible indicators pointing to suspicious transaction such as:
  • Pressure to open account or transact quickly
  • Customer is too friendly or too secretive
  • Opening a few accounts or having many related accounts
• List of known and suspected terrorists
• FATF high-risk and non-cooperative jurisdictions

Continual Monitoring

• Monitor and review account and transactions to raise red flags
• Identify suspicious activity
• Reporting of suspicious transactions

Reporting Process

• Escalating to compliance
• Keep proper record of basis for suspicion and action taken, if any
• Escalating to senior management
• Filing a suspicious transaction report to authorities
• Promptness
• Principle of confidentiality

Follow Up Action

• Course of action to mitigate risk
  • Pinpoint new account “owner” and liaison with authorities
  • Movement (freezing) of funds
  • Review of related and associated accounts
• Review of guidelines
• Training

Conclusion

• Risk of non-compliance
  • Enterprise/Corporate
  • Personal

Case study/discussion 1 – Red Flags

Case study/discussion 2 – Upon discovering a suspicious transaction

A veteran governance professional and qualified lawyer, our trainer has over 20 years of leadership experience in compliance, operational risk, and audit. She has held director-level roles at major financial institutions and led industry working groups on financial crime. She specialises in delivering compliance training with intellectual precision on regulatory obligations, AML, and conduct standards to frontline and management audiences.

A specialist in AML compliance and operational risk, our trainer has extensive experience in banking and payments environments. He has served in both business-line compliance and group-level functions, focusing on KYC, transaction monitoring, and data protection. He is an expert in translating complex regulatory policy into practical operational understanding for frontline staff, providing a grounded, practical approach to compliance education.

With over 30 years of experience, our trainer has held managing director roles in private banking compliance, treasury control, and audit at global institutions. He led AML/CFT oversight for wealth management across jurisdictions, with proven expertise in banking licenses, major mergers, and governance committees. He holds professional qualifications in accounting and compliance, and is a member of leading international AML bodies.