Countering bribery and corruption, money laundering and terrorist financing

An overview of best practice in holding clients’ money and how to avoid common issues – as identified by RICS Regulation – that may affect your business through the safeguarding processes set out in this short eLearning course.

Overview

The risks of bribery and corruption, money laundering and terrorist financing cut across our profession, regardless of geography or industry specialism.

To help the profession identify and manage these risks, in February 2019 RICS published the professional statement on Countering Bribery and Corruption, Money Laundering and Terrorist Financing. This professional statement will become mandatory for all professionals and regulated firms from 1 September 2019.

This course supports the professional statement, aims to provide the profession with a clear description of how to manage these risks within the RICS Rules of Conduct.

It sets out professional and ethical behaviour by providing practitioners and firms with clear and consistent principles, informing them about what constitutes a breach of conduct.

Learning outcomes

• Understand the principles for professional and ethical behaviours associated with countering bribery and corruption, money laundering and terrorist financing
• Identify the key responsibilities with complying with the RICS professional statement
• Identify and manage risks within the RICS Rules of Conduct
• Better protect the reputations of you and your firm

Course Structure

Module 1: The professional statement

• Context
• Mandatory requirement

Module 2: Roles and responsibilities

• Nominated Officer
• Compliance and ethics champion
• PEPs
• Code of Behaviour
• Beneficial owner
• Whistleblowing
• Customer due diligence (CDD)

Module 3: Guidance and Best Practice

• Bribery and corruption
• Money laundering and terrorist financing
• Reliance on third parties
• Risk assessments
• Recognizing potential money laundering
• Policies and procedures

Module 4: The UK Legislative context

• The Substantive Law
• Important changes to UK regulations
• SAR
• Record keeping and Data protection
• Red Flag indicators