SCB Launches e-Learning portal To Raise Awareness About Financial Crimes

Standard Chartered recently launched the Correspondent Banking Academy e-Learning portal in Pakistan. This portal will share the Bank’s knowledge and experience in Financial Crime Compliance (FCC) with its Financial Institution clients in Pakistan.

This inauguration ceremony for the e-Learning portal took place within the premises of State Bank of Pakistan. Representing State Bank of Pakistan (SBP) at the occasion was Mr. Riaz Riazuddin (Deputy Governor SBP), Mr. Jameel Ahmed (Executive Director Banking Supervision) and Mr. Syed Irfan Ali (Executive Director Banking), whereas the Standard Chartered delegation was led by Mr. Alex Manson (Global Head Transaction Banking) and Mr. Shazad Dada (CEO Standard Chartered Bank Pakistan).

About the e-Learning Portal

This e-Learning portal, the first of its kind being offered by any correspondent banking service provider, is another key milestone for Standard Chartered Bank. Previously, Standard Chartered had conducted a workshop in Pakistan for banking professionals with the objective of increasing awareness of Financial Crime Compliance with the local banking community.

The Standard Chartered Correspondent Banking Academy e-Learning portal aims to update correspondent bank clients on regulatory expectations with respect to financial crime and risk compliance. The Bank believes that this collaborative effort will enable us to work more closely with our clients to better manage risks in areas such as Customer Due Diligence, Anti-Money Laundering and Sanctions Compliance, and raise financial crime compliance standards in the industry over time.

About the Courses

The bank will offer three key e-Learning modules, which are used to train its own internal staff: Customer Due Diligence (CDD), Sanctions and Anti-Money Laundering (AML). These e-Learning modules may be refreshed periodically in line with material developments in these areas, which may be made available to the Bank’s Financial Institution clients. The Bank may also add other topics of interest in the future based on regulatory developments and feedback from the clients.

Comments at Launch of e-Learning System

Commenting on the system, Mr. Riaz Riazuddin, Deputy Governor, State Bank of Pakistan said, “It is heartening to learn that Standard Chartered has launched a Correspondent Banking Academy e-Learning Portal in Pakistan. This is a good initiative from a risk management perspective and will provide an opportunity to the industry to benefit from the global expertise of Standard Chartered in Customer Due Diligence, Anti Money Laundering and other aspects of modern day banking. We do hope that the use of this e-Learning Portal by Standard Chartered Bank’s clients and staff will enhance their understanding of the regulatory expectations in these areas.”

Commenting on the launch, Mr. Alex Manson, Global Head, Transaction Banking, Standard Chartered Bank said, “We are committed to combating financial crime and have taken the approach of participating in the development of FCC standards with our clients by building a strong advisory capability in the markets where we operate. This initiative should not only go a long way in raising the overall standards of the banking industry, but is also very much in line with our commitment to serve business communities”.

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