Certified Financial Crime Prevention Practitioner (CFCPP)
There has been a significant increase in the complexity and volume of the regulation underpinning compliance in financial crime prevention. Consequently, practitioners operating in this complex environment must fulfil their fiduciary responsibilities of ensuring ethical and legal compliance within this regulation whilst contributing to wider organisational objectives. As well as a thorough understanding of the regulatory and legislative framework, professional practice in the area of financial crime prevention requires judgments and decisions to be made which require considerable intellectual capability.
The role of the Head of Compliance with responsibility for Anti-Money Laundering and Counter Terrorist Financing legislation, often the Money Laundering Reporting Officer (MLRO) in a regulated firm, is now a pre-approval control function under the Central Bank Fitness and Probity regime. MLROs within firms carry serious legal responsibilities and those who fill the roles must know and understand what these responsibilities are.
Relevant law and standards apply both at a domestic and international level and material breaches can result in personal accountability for MLROs as well as significant reputational damage and fines for financial services firms. The wider damage caused by financial or white collar crime to individuals, communities and the public at large is immeasurable. Effective prevention of fraud and financial crime, combined with thorough investigation if and when it does arise, yields very positive outcomes.
To be awarded the CFCPP designation by ACOI, you must register for and successfully complete a 1 module educational programme offered by ACOI’s academic education partner, the Institute of Banking which is a recognised college of University College Dublin (UCD).
The programme consists of 1 module, as follows:
Financial/White Collar Crime Prevention (NFQ Level 9, 10 ECTS)
At the end of the programme, students will be able to:
- Interpret contemporary legislation in the specific areas of financial crime prevention
- Design, complete and report on major financial crime prevention projects, which may be required to enhance your firm’s positioning within the sector
- Determine, on an ongoing basis, the performance of a financial crime prevention framework within your firm’s framework
- Apply professional knowledge and skills to investigate a suspected financial crime
- Maintain, develop and apply contemporary professional best practice
When you successfully complete the programme you will be awarded the Professional Certificate in Financial Crime Prevention from UCD, a 10 ECTS award at level 9 on the National Framework of Qualifications. The Professional Certificate in Financial Crime Prevention forms part of the MSc in Compliance. Students who successfully complete the certificate are exempt from this module if they subsequently decide to apply for the MSc in Compliance as this module is part of the syllabus of the MSc.
The minimum entry requirements for the programme are a:
- Honours degree (H2.2 minimum) in a business or a legal discipline.
Those who do not hold a degree, but have exceptional professional experience in the areas of fraud, risk or compliance are eligible to apply and will be considered on a case-by-case basis.
PROFESSIONAL BODY MEMBERSHIP
You must be a current member of the Association of Compliance Officers in Ireland, or become a member, to register for this programme.
Affiliate membership is currently €150 per year.
Lectures are held on a part-time basis across one semester.
Assessment is a combination of continuous assessment and end of semester exams.
The pass mark is 40% in line with UCD academic policy.
BECOMING A CFCPP
Holders of the Professional Certificate in Financial Crime Prevention are invited to apply to become a Certified Financial Crime Prevention Practitioner (CFCPP). Continued use of the CFCPP designation is subject to meeting annual CPD requirements.
SUMMIT FINUAS FUNDING
This programme has received Summit Finuas Network funding since its inception in 2015. Funding for the next programme intake is subject to Network funding approval.
The Summit Finuas Network is part of the Finuas Networks Programme, managed by Skillnets Ltd, whose aim is to support the sector in maintaining Ireland’s position as a top international financial services centre, through ongoing investment in the development of the skills and expertise of this workforce. This recognition of the programme highlights the need for suitably qualified persons in an area considered as strategically important. For further information about the network, please click on image below.
| Orla Brady
T: (01) 779 0203
| Professional Certificate Data Protection
| Mary O'Dwyer
T: (01) 6116500
How to Apply
First become a member of the ACOI
Once you receive your receipt of membership with your ACOI membership details, you can then apply for the programme.