International Compliance Association launches Certificate in Financial Crime Risk in Mobile Financial Services

11th December 2017

The International Compliance Association (ICA) is pleased to announce the launch of a new qualification, the ICA Certificate in Financial Crime Risk in Mobile Financial Services. The course has been created to meet a growing demand for practical, specialist knowledge in this rapidly growing sector.

Over the last decade, mobile financial services (MFS) have been instrumental in increasing financial inclusion in developing markets. Low-income individuals, micro-entrepreneurs and rural populations that were previously outside of the traditional banking environment are now accessing financial services through mobile phones and networks of agents acting as representatives of financial service providers. This, of course, has many benefits for stakeholders - but also presents risks in terms of criminal abuse.

This course is designed to give those involved with MFS, both providers and other stakeholders, an understanding of both the risks and vulnerabilities of the services and also the controls and actions that should be in place to combat financial crime. The Certificate will provide the understanding and tools to manage financial crime within mobile financial services. Learners will benefit from the practical nature of the course with specialist knowledge and skills that can be applied to their day-to-day roles.

Bill Howarth, ICA President, said:

“As the non-traditional banking sector evolves, robust systems and controls are needed to ensure that financial crime risks are curtailed. Education plays a key role in this. In many developing countries, it is commonplace for individuals to have access to a mobile device, but not a bank account. As such, relevant risk controls are required which reflect this way of transacting and the relationships involved.  This practical, relevant course will ensure that compliance professionals have the right tools in their armoury to embrace this business opportunity but also to understand the risks and how they may be mitigated”.

The course is available to study through ICA’s training partner, International Compliance Training and can be studied online or delivered in-house at organisations requiring large teams to be trained.

More information on the global ICA Certificate in Financial Crime Risk in Mobile Financial Services can be found here