Understanding International Banking Laws
Course Info
Day 5 of each course is reserved for a Q&A session, which may occur off-site. For 10-day courses, this also applies to day 10
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Course Summary
For any organisation that needs to conduct international payments, it is essential to have a thorough understanding of international banking laws. These set the standard for international payments, protecting involved parties from fraud and terrorism financing.
International banking laws and regulations are vital for managing the way payments are made. Individuals or organisations should be competent in the range of regulations to ensure their services are fully compliant. These laws also allow for sanctions and embargoes to be implemented if an organisation is believed to be abusing banking systems.
To stay aligned with banking laws, an organisation should also be highly competent and familiar with the types of payment systems commonly used to guarantee effective use. While there are legislative protections against fraud and related crimes, an organisation should maintain its own risk management and fraud prevention and detection methods to fully secure payments for itself and customers or associates.
Upon completion of this course, participants will be able to:
- Understand how international laws are essential in banking.
- Assess the legal and regulatory frameworks that govern international banking.
- Identify the roles of central banks, correspondent banking, and cross-border payment regulations.
- Analyse how commercial and financial factors influence international law.
- Examine the ideal practices for managing risks associated with international banking, including compliance, regulatory and operational risks.
- Evaluate emerging trends and technologies in international banking and how they align with international banking laws.
- Comprehend how new technologies influence the standard practices of banking.
This course is designed for anyone responsible for managing finance, particularly on an international level, within an organisation. It would be most beneficial for:
- Finance Managers
- Central Banking Executives
- Finance Directors
- Risk Analysts
- Compliance Managers
- Chief Payment Officers (CPOs)
- Relationship Managers
- Accountants
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will engage in various case studies to highlight key areas surrounding international banking laws and how they are navigated in practice.
They will be provided with all the necessary tools to carry out the learning exercises. Combined with group discussions, presentations, and practical exercises, participants will have ample opportunities to develop an in-depth understanding of the taught content. They will also be able to evaluate their own particular roles and assess how international banking laws may influence their working practices.
Course Content & Outline
Section 1: Introduction to International Banking
- Defining international banking.
- Describing the basic process of banking from one party to another.
- Types of international payment systems – SWIFT, CHIPS, Fedwire and TARGET2.
- Explaining the benefits and limitations of each payment system.
- Identifying the ideal payment system for various circumstances.
- The purpose of letters of credit (L/Cs) and standby L/Cs.
- The vitality of bank guarantees and counter-guarantees.
Section 2: International Banking Laws and Regulations
- Legal and regulatory framework for international banking and payments.
- The main international banking regulations – Basel III, FATCA and Dodd-Frank Act.
- How these acts influence standard practices and protect all parties involved in a transaction.
- The principles of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) how they effectively carry out their purpose.
- Why sanctions and embargoes are utilised.
- Compliance management and governance.
Section 3: International Payment Systems
- The importance of maintaining international documentary collections.
- The rise of international remittances and ensuring legitimacy.
- Progressing from cash to card payments.
- The standardisation of contactless payment systems.
- Trends of e-commerce payments.
- Cross-border payments and settlements.
Section 4: Operational Risks and Fraud Prevention
- Typical operational risks faced with international banking.
- Fraud potential and how criminals are becoming increasingly intelligent.
- Methods of fraud protection and detection.
- Maintaining information security and cybersecurity.
- Conducting risk assessments and establishing in-depth risk management.
- The role of disaster recovery and crisis management within risk management.
Section 5: Future Developments in International Banking
- Emerging trends for both consumers and organisations in international banking.
- The 5 types of Distributed Ledger Technology (DLT) – Blockchain, Hashgraph, Directed Acyclic Graph (DAG), Holochain and Tempo.
- The advantages, disadvantages and ideal use for each DLT.
- Integrating artificial intelligence (AI) and machine learning (ML) into standard practices.
- Ways in which international banking law may evolve to encompass new technologies.
Certificate Description
Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.
Holistique Training Certificates are accredited by the British Assessment Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.
CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.
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