Course Detail(TAX308v : Red Flags to Tax Evasion and Anti-Money Laundering Practices (Live Webinar))
Not Available

UTAP Funding

TAX308v : Red Flags to Tax Evasion and Anti-Money Laundering Practices (Live Webinar) NEW

7.00 CPE Hours (Category 2, Others)
Live Webinar

Programme Objective

This comprehensive course equips participants with:
  • the fundamental knowledge and practical skills to identify red flags related to tax evasion and money laundering
  • covers global best practices while emphasizing Singapore-specific regulations.
By the end of this course, participants will be well-prepared to recognize red flags, prevent tax evasion, and contribute effectively to anti-money laundering efforts both globally and within Singapore's financial landscape.

Programme Outline

Introduction to Tax Evasion and Money Laundering
  • Understanding tax evasion and money laundering globally
  • Legal and ethical implications
  • Role of financial institutions and professionals in Singapore
     
Identifying Red Flags
Part A: Tax Evasion Red Flags
1. Unreported Income:
  • Cash transactions lacking proper documentation
  • Frequent underreporting of income
  • Inconsistent financial statements

2. Complex Structures and Transactions:
  • Use of shell companies
  • Layering of transactions
  • Offshore accounts

3. High-Risk Industries and Professions:
  • Real estate, casinos, and precious metals
  • Legal and accounting professionals
  • Politically exposed persons (PEPs)

Part B: Money Laundering Red Flags
1. Unusual Transaction Patterns:
  • Large cash deposits or withdrawals
  • Structuring transactions to avoid reporting thresholds
  • Rapid movement of funds

2. Customer Behavior:
  • Frequent changes in account ownership
  • Unexplained third-party transactions
  • Reluctance to provide necessary information

3. Geographic Red Flags:
  • High-risk jurisdictions
  • Transactions involving tax havens
  • Cross-border movements
     
Reporting Obligations and Compliance
  • Know Your Customer (KYC) procedures in Singapore
  • Suspicious Activity Reports (SARs)
  • Regulatory requirements and penalties specific to Singapore
     
Case Studies and Practical Exercises
  • Analyzing real-world scenarios with a global perspective
  • Role-playing exercises focusing on Singapore's regulatory framework
Developing risk assessment skills applicable in diverse contexts

Training Methodology

Lecture style, with Exercises and Case Studies

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

This course is designed for financial professionals, compliance officers, law enforcement personnel.

Competency Mapping

Category 2 = 2.00 Hours
Others = 5.00 Hours

Schedule & Fees
Date & Time

23 Jul 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 381.50
For Non-Members: $ 458.89

Programme Facilitator(s)

Ms Joanna Cheong

Venue

Live Webinar in or outside of
Singapore

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2025.

*Unfunded course fee refers to the balance course fee payable after applicable government subsidies. This excludes material fees, registration fees, misc. fees etc.

This course is approved for UTAP support for intakes conducted between 03 April 2024 – 31 March 2025.

As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.

For more information on UTAP Funding and to submit for UTAP claims, please visit https://www.ntuc.org.sg/uportal/programmes/union-training-assistance-programme. Terms and conditions apply.

Programme Facilitator(s)


Ms Joanna Cheong
CA (Singapore), FCCA, ATA, ATP, ACTA

Joanna has experience in tax compliance, advisory, training and transfer pricing projects. She had completed Advanced Tax Programme (Executive Programme Level III) organized by the Tax Academy of Singapore in 2017 and attained competency in Advanced Certificate in Training Assessment (ACTA) awarded by the Singapore Workforce Skills Qualifications (WSQ) in 2019.

She is also an adjunct lecturer teaching Singapore Taxation modules for ACCA and Singapore Chartered Accountant Qualification programs.
 
Joanna was formerly the Head of Academic & Strategic Partnership of Kaplan Learning Institute before moving onto full-time tax practice. She led and managed the academic team to achieve academic standards and was also a member of the Examination Board.
 
Despite working full time as a Tax Partner at an accounting firm, she enjoys imparting her knowledge in taxation during her spare hours.
 

Programme Objective

This comprehensive course equips participants with:
  • the fundamental knowledge and practical skills to identify red flags related to tax evasion and money laundering
  • covers global best practices while emphasizing Singapore-specific regulations.
By the end of this course, participants will be well-prepared to recognize red flags, prevent tax evasion, and contribute effectively to anti-money laundering efforts both globally and within Singapore's financial landscape.

Programme Outline

Introduction to Tax Evasion and Money Laundering
  • Understanding tax evasion and money laundering globally
  • Legal and ethical implications
  • Role of financial institutions and professionals in Singapore
     
Identifying Red Flags
Part A: Tax Evasion Red Flags
1. Unreported Income:
  • Cash transactions lacking proper documentation
  • Frequent underreporting of income
  • Inconsistent financial statements

2. Complex Structures and Transactions:
  • Use of shell companies
  • Layering of transactions
  • Offshore accounts

3. High-Risk Industries and Professions:
  • Real estate, casinos, and precious metals
  • Legal and accounting professionals
  • Politically exposed persons (PEPs)

Part B: Money Laundering Red Flags
1. Unusual Transaction Patterns:
  • Large cash deposits or withdrawals
  • Structuring transactions to avoid reporting thresholds
  • Rapid movement of funds

2. Customer Behavior:
  • Frequent changes in account ownership
  • Unexplained third-party transactions
  • Reluctance to provide necessary information

3. Geographic Red Flags:
  • High-risk jurisdictions
  • Transactions involving tax havens
  • Cross-border movements
     
Reporting Obligations and Compliance
  • Know Your Customer (KYC) procedures in Singapore
  • Suspicious Activity Reports (SARs)
  • Regulatory requirements and penalties specific to Singapore
     
Case Studies and Practical Exercises
  • Analyzing real-world scenarios with a global perspective
  • Role-playing exercises focusing on Singapore's regulatory framework
Developing risk assessment skills applicable in diverse contexts

Training Methodology

Lecture style, with Exercises and Case Studies

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

This course is designed for financial professionals, compliance officers, law enforcement personnel.

Competency Mapping

Category 2 = 2.00 Hours
Others = 5.00 Hours

Programme Facilitator(s)

Ms Joanna Cheong
CA (Singapore), FCCA, ATA, ATP, ACTA

Joanna has experience in tax compliance, advisory, training and transfer pricing projects. She had completed Advanced Tax Programme (Executive Programme Level III) organized by the Tax Academy of Singapore in 2017 and attained competency in Advanced Certificate in Training Assessment (ACTA) awarded by the Singapore Workforce Skills Qualifications (WSQ) in 2019.

She is also an adjunct lecturer teaching Singapore Taxation modules for ACCA and Singapore Chartered Accountant Qualification programs.
 
Joanna was formerly the Head of Academic & Strategic Partnership of Kaplan Learning Institute before moving onto full-time tax practice. She led and managed the academic team to achieve academic standards and was also a member of the Examination Board.
 
Despite working full time as a Tax Partner at an accounting firm, she enjoys imparting her knowledge in taxation during her spare hours.
 

Upcoming Schedule

Date & Time

23 Jul 2024 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)

For Members: $ 381.50
For Non-Members: $ 458.89

Programme Facilitator(s)

Ms Joanna Cheong

Venue

Live Webinar in or outside of
Singapore


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