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Fraud Research Role Analysis

Discuss how your learning from the course can be applied to your present role inside your organisation and exactly how it may profit both you and the effective analysis of fraud.

The essay would critically review the training undertaken in the course and how it does apply to my existing role as an official within the counter fraudulence and money laundering team in a legislation enforcing agency in Middle East. The emphasis is on the way that learning would be beneficial for myself and the company through increased performance in doing the fraud, with a particular mention of the rules of ethical research, attaining and investigative state of mind, achieving a knowledge base with respect to the relevant legislation and technique, considerations for the fantastic hour and the effectiveness of decision-making process as well as saving of decisions.

According to the Code of Practice to the Offender Technique and Investigations Act 1996 (CPIA), a criminal investigation is an investigation performed by police officers with an attempt to establish if the person should be recharged with an offence, or if the individual charged is guilty of it. Ethics and ethical investigation is progressively important when looking into money laundering. Devery (2010) argues that unlawful investigations attract significant attention and interest from the general public, which is attributed to the coverage distributed by the marketing to criminal behaviour and the criminal offense dedicated but also because of this of the effect that crime is wearing those affected, as well as the wider communities and individuals impacted. The marketing and societal interest has increased over time, as technological advancements and proliferation of communal media has led to heightened interest from the general public (Goldsmith, 2015).

This means that money laundering investigators have responsibility to ensure that they carry out the investigations in a specialist and ethical manner, which would help out with developing and keeping the public self-assurance. Therefore, there is a need to execute a study with common sense whilst upholding integrity at all times and not take part in any discriminatory or disproportionate behavior that could lead to the risk of losing co-operation and support of the stakeholders involved. This is in line with the conclusion of Verhage (2011) that an honest and professional approach to investigation not only favorably impacts the reputation of the organisation but the officer too, leading to a positive impact on the sufferer and the wider community.

When investigating the money laundering activity, it's important which i maintain an investigative state of mind. The mindset identifies the frame of mind or state of mind, which is followed by the investigators and subsequently could be developed as time passes through the experience and experience developed in a profession. It takes into consideration a range of principles that needs to be applied during investigation, which include attaining an understanding of the resources underlying the materials uncovered, sufficient planning and prep, appropriate examination of the resources, collection and collation of information and analysis of the information and exploration.

In the framework of money laundering investigations, whilst looking at the various ventures and associated get-togethers as well expanding an analysis of the various transactions to find potential money laundering, the investigative state of mind would involve maintaining professional skepticism and making use of judgment to the various trades and their primary rationale.

The professional services organization Ernst & Young claims that in the anti-money laundering conformity analysis, the heightened level of wisdom needed through the procedure becomes more pertinent, as it is merely in a few situations that the exploration follows a straightforward technique (Ernst & Young, 2016). Therefore, an investigative way of thinking is critical since it allows money laundering investigator to see the nature of transactions examined, utilizing the common sense to evaluate the path that the research should carry out and the relevant celebrations/ stakeholders that need additional review. Maintenance of investigative mindset also enables the researcher to help make the most of the scarce available organisational resources and consequently maximise the efficiency and efficiency of the amount of money laundering investigation procedure.

An investigator should have got an in depth knowledge base with regards to the legislation and steps that are relevant in their job. This means that I need to have an in depth understanding of anti-money laundering (AML) legislation that are applicable not only at the local level in Gulf but also at the international level, given the occurrence of global financial institutions and corporations in the region. It would entail a comprehensive understanding of AML and combating terrorist funding (CTF) legal plans, as well as anti-money laundering construction applicable in your community. Besides a detailed knowledge of the AML regulation in the region, as well as primary and supplementary ML offences, I'd also need a detailed understanding of the global restrictions within ML. This is because the ML regulations in Gulf on the whole are based on the OECD restrictions, which would increase my winder knowledge of the regulatory environment within money laundering and the actual changes to ML platform in the future.

The importance of knowledge foundation in ML when operating in Gulf is visible from a recent study conducted by professional services firm Pricewaterhouse Coopers (PwC), which concluded that over 20% of financial service companies have not engaged in AML and CTF risk analysis in the region (PwC, 2016). This improves the importance of possessing an in depth knowledge of the relevant regulations and laws and regulations when working within the ML team in a regulation enforcing agency. Additionally, possessing the data and understanding becomes even more critical in the modern highly vibrant environment, whereby significantly sophisticated techniques implemented by those engaging in unlawful (money laundering) activities requires higher wisdom and professional skepticism for ML investigators such as myself, which would come through possessing and continuously increasing the relevant knowledge platform with regards to the legislation and treatment.

According to the faculty of Policing (2016), golden hour identifies the word for the time that is in the immediate aftermath of committing an offence. It is now time when the evidence and materials is increasingly open to the investigatory team. This involves a proactive method of maximising the capability to make the most of golden hour during the investigation, as a proactive methodology and positive action during the golden hour minimises the chances that information or material would be lost or not utilised during the exploration. Furthermore, it also maximises the prospects that the materials would be admissible in court and consequently facilitate in providing justice.

The key aims of golden hour that I would serve in my own ML role includes obtaining evidence, discovering those damaged by the potential money laundering activity, figuring out the suspects involved with such activity and conserving the proof/scene. PwC (2016) dispute that golden hour and commencing the right action requires immediate thinking whereby an investigator needs to manage the situation. Joining the course has provided me an capacity to imagine the scenario and potential situation that I possibly could be faced with in the future and how I could respond more effectively in working with such a predicament.

For instance, I would take increased control of the problem through securing the relevant facts, identification and allocation of the resources within my removal. This exercise has also helped me to consider the different physical, technological, financial and human resources that I've at my removal in the organisation, which would be useful when making the almost all of the fantastic hour things to consider.

As area of the golden hour concerns and in the context of ML investigations in general, your choice making process and the need to record the many decisions is crucial. The fact of decision-making has been value to deciding what needs to be done, deciding the way it ought to be done and lastly rationalizing and saving the decisions. This is steady with the Country wide Decision Model (NDM) utilized by College of Policing, which can take into consideration assortment of information and relevant intellect, assessment of potential risks and subsequent development of strategy to offer with the threats, consideration of power and policy possibilities, determining and options and contingencies available and finally taking action as well as looking at the past happenings. It is relevant that Code of Ethics is complied with throughout the decision-making, which reinforces the importance of ethical exploration as discussed earlier in the article.

By executing appropriate decision and documenting them appropriately, I would be maximising the potential customers of successfully looking into the actual ML activity. This might also assist me considering different available resources and finally utilise them including the various option choices to undertake the best plan of action to solve the ML situation. Saving your choice would keep a definite track of the decision-making, which would be useful if delivering to the older management or other stakeholders (internal or external).

In final result, the essay considered the number of topics covered during the course and their practical application in my place of work, as an officer within the counter scams and money laundering team in a laws enforcing agency in the Middle East. The course has greatly improved my knowledge when it comes to undertaking honest research, keeping and retaining an investigative attitude and the importance of gaining greater knowledge with respect to the legislations and types of procedures. Furthermore, heightened understanding of the gold hour concerns and decision-making process has designed that we am well informed and alert to different relevant activities that I would need to undertake when investigating the amount of money laundering activities in my organisation.


College of Policing (2016), Inspection process, offered by:

https://www. app. college. police. uk/app-content/investigations/investigation-process/ (reached: 21/2/2017)

Devery, C. (2010). Offender profiling and criminal analysis. Journal of Contemporary Offender Justice, 26(4), 393-409.

Ernst & Young (2016), Anti-money laundering compliance, offered by:

http://www. ey. com/Publication/vwLUAssets/ey-anti-money-laundering-compliance/$FILE/ey-anti-money-laundering-compliance. pdf (accessed: 21/2/2017)

Goldsmith, A. (2015). Disgracebook policing: communal advertising and the rise of authorities indiscretion. Policing and population, 25(3), 249-267.

PwC (2016), Anti-money laundering, offered by:

http://www. pwc. com/m1/en/publications/middle-east-economic-crime-survey/anti-money-laundering. html (seen: 21/2/2017)

Verhage, A. (2011). The anti money laundering organic and the conformity industry. Taylor & Francis.

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