Course Info
Code IND12-112
Duration 5 Days
Format Online
Course Summary
For an organisation that wishes to conduct international payments or trade, particularly those within the banking and finance industry, there must be a strong understanding of international banking laws. These laws helped set the standard for international payments and transactions, primarily set in place to ensure protection and security for all involved parties.
Knowledge of the various international banking laws are vital for an organisation to function correctly. These manage the way payments should be made and regulate different payment methods to ensure safety. These laws also law out consequences for non-compliance, such as sanctions and embargoes, for organisations who are in breach of these regulations.
To guarantee full compliance with these banking laws, an organisation should be highly competent in the types of payment systems commonly used and digital advancements within the industry. There should also be a strong focus on risk management. Fraud and operation risks can be damaging to all parties involved, and there needs to be detection, preventative measures and risk solutions established and constantly managed.
- To understand the importance of international banking laws.
- To analyse the legal and regulatory frameworks that govern international banking.
- To examine how commercial and financial factors influence international law.
- To identify the role of central banks, correspondent banking and cross-border payment regulations.
- To combine international law and regulations with an organisation’s risk management to create a secure banking environment for all involved parties.
- To assess how new technologies influence the standard of practice in banking.
- To review how emerging market and technology trends align with international banking laws.
This course is designed for anyone responsible for understanding international banking laws and ensuring their organisation is in full compliance. It would be most beneficial for:
- Accountants
- Finance Managers
- Chief Payment Officers (CPOs)
- Finance Directors
- Risk Managers
- Compliance Managers
- Central Banking Executives
- Commercial and Private Banking Executives
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review case studies of established organisations to highlight ways international laws have influenced their services and products.
The participants will be involved in a range of learning exercises, including seminars, group discussions, individual and group activities. Under the guidance of the course mentors, participants will have extensive opportunities to develop their skills and knowledge of the taught content.
Course Content & Outline
- Defining international banking.
- Identifying typical banking processes, services and products.
- Types of international payment systems – SWIFT. CHIPS, Fedwire and TARGET2.
- Describing the principles, processes, advantages and limitations of each payment system.
- Deciding what system is ideal for various circumstances.
- The purpose of bank guarantees and counter-guarantees.
- The vitality of letters of credit (L/Cs) and standby L/Cs.
- Legal and regulatory framework for international banking and payments.
- Evaluating the main laws and regulations surrounding international banking – Basel III, FATCA and Dodd-Frank Act.
- How these regulations have created banking standards and ensure all parties are protected during a transaction.
- The concept and principles of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF).
- How AML and CTF carry out their purpose, and the consequences in banking if they were not in place.
- Effectively maintaining international documentary collections.
- Ensuring international remittances are legitimate and secure.
- The transition of cash payments to card payments.
- The standardisation of contactless payments.
- Ensuring new technologies and services are in alignment with laws and regulations.
- Types of operational risks associated with international banking.
- The use of sanctions and embargoes to prevent harm.
- Prioritising fraud detection and elimination.
- How criminals are becoming increasingly intelligent when using digital banking technologies.
- Digitalisation and the danger of digital crimes.
- Establishing effective risk management, including disaster recovery and crisis management.
- Analysing patterns of market trends to predict future changes.
- Preparing for change and new technological advancements in banking functions.
- Popularisation of artificial intelligence and machine learning and how these can be merged into existing processes.
- Ways in which international banking laws may need to adapt to encompass future practices.
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