Course Detail()

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.

Schedule & Fees

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)