Fintech-Based Money Laundering: AML/CFT for Fintech Entites

FinTech-Based Money laundering – AML_CFT for FinTech Entities

Programme Overview

FinTechs, mainly startups, are reshaping the financial servicesindustry,offering customer-centric servicescapable of combiningspeedand flexibility,backed byforward-lookingstrategies, and cutting-edgebusiness models. This meteoric rise of FinTech is rapidly disrupting how financial services are developed, managed and delivered. But along with competitive advantages such as convenience and efficiency, FinTechs face legal and regulatory requirements to build effective compliance programmes in areas such as AML/CFT and data protection.With this in mind, FinTechs need to understand the risks and vulnerabilities of their products and services, delivery channels and the geographical locations of their customers and to ensure that AML/CFT measures remain up-to-date as new technologies emerge. Innovative customer due diligence (CDD) is one element of an overall risk management architecture that can mitigate Financial Crime threats. FinTechs are uniquely suited to harness and develop innovative CDDapproaches, owing to their dynamic business models and comfort in using technological solutions.

The aim of the programme is to provide Compliance/AML professionals in FinTech, InsurTech, WealthTech and RegTech entities with the knowledge and practical steps to build a robust Anti-Financial Crime programme for their respective entities, and the confidence to implement this programme. With hands-on cases and practical exercises, participants will quickly gain the knowledge and tools they need to develop new AML/CFT policies and processes, or adapt existing ones, for the FinTech industry.

This highly interactive, compressed and intense 3-day programme provides participants with opportunity to learn leading practices techniques for designing and implementing a robust and innovative anti-financial crime programme.

Participants will learn through our blended learning approach, including presentations, case studies, role plays, insights from real-world AML practitioners and theoretical and empirical evidence on how technology-based innovations have the potential to be utilised to better fight money laundering and terrorist financing.

Programme Objective

Firstly, the objective of this programme is to raise awareness and enhance the existing knowledge of persons working in or interested in working as compliance/AML Officers in the FinTech sub-sector.

Secondly, to provide a robust, comprehensive and leading practice insight into the world of AML/CFT from the perspective of FinTechs and to discuss the opportunities that FinTech may present in improving the effective implementation of AML/CFT measures, as well as the challenges that emerging technologies and financial innovations may pose.By the end of the programme each participant will be able to:

  • Create awareness on the AML/CFT side if the FinTech business and how to safeguard against any financial crime risks that FinTechs and their customers may be exposed to
  • Explore the tools for conducting effective KYC/CDD and ongoing monitoring in a FinTech world
  • Identify and understand the controls used by FinTechs to mitigate risk
  • Have the knowledge and practical steps to mitigate financial crime risks related to running digital businesses
  • Learn about anti-financial crime regulatory obligations faced by FinTechs, financial crime risks to which FinTechs may be exposed and how to implement strategy to mitigate such FC risks
  • Recognise inherent financial crime risks to which FinTechs can be exposed
  • Understand the possible controls to use to mitigate inherent risks
  • Understand the “risk-based” approach to AML/CFT and undertake an appropriate and effective institutional risk assessment
  • Recognise the key factors to consider in conducting financial crime risk assessment
  • Raise awareness about financial crime typologies relevant to FinTech activities


We are first a research company, and everything we do, be it training or consulting, is based on research we have conducted ourselves or those conducted by others. So, we do not just train on the basis of emotions. Our training programmes are based on strong theoretical and empirical findings. These findings allow us to provide our programmes’ participants up to date perspective on areas of interest.

In addition, we are locals and we understand the business environment. We have a good blend of both consulting and real-world day-to-day practical business experience in Nigeria. We have folded our sleeves before and we can fold it for you. Indeed, we are not just trainers and facilitators, we have a good understanding of how things are done in practice in Nigeria. We pride ourselves to be subject matter experts (SMEs) in the areas we train on. If we cannot provide contemporary insights and in-depth knowledge on a particular subject area, then we would say it from the outset.

Furthermore, we have developed our competencies in a lot of areas and we can be a one-stop shop for your organisation in terms of consulting, training and research (qualitative or quantitative) in the areas of leadership, governance, strategy, change management, risk management, compliance, AML/CFT (for financial institution), ethics, team functionality, emotional intelligence, legendary customer service, internal control and standard operating procedures (SOPs) development. We also go out of our way to adopt the best model for each training programme we offer and we are even ready to go “Down Under” (Australia) if that is where we will find the best model. Aut Optimum Aut Nihil; this Latin maxim is not just a philosophy to us, we live it.

Finally, we have few partner firms in South Africa that we can occasionally collaborate with in areas where we need additional capacity.

Why Attend this Programme?

The financial ecosystem is changing rapidly due to the increased use of information technologies by financial institutions and new competitors. Traditional financial companies are modernising their operations, and new competitors are concentrating their activities on information technologies. Moreover, FinTech services are accessible from anywhere and at any time through online or mobile platforms. Some companies provide products and services offered by traditional financial entities such as payment processing, trading and investment, portfolio management, credit granting, and capital raising applying technology in innovative ways to enhance their operations. Other FinTech firms provide new products such as cryptocurrencies. The growth of FinTech is a global phenomenon supported by venture capital on FinTech start-ups.

With all of these rapid changes, financial institutions must learn how to balance the benefits and risks associated with FinTechs and the different aspects to take into consideration for the development of innovative products and services from an AML/CFT perspective.

This programme provides you with real tools to identify different ways to innovate on AML/CFT and KYC/CDD in this new world full of digital-technology-driven products and services. You will learn how to seize the opportunities brought by the digital revolution and turn challenges into possibilities. You will explore the key FinTech products and services, as well as the benefits and risks associated with them. You will gain insights into different FinTech business models and cultures and the opportunities and risks associated with such models. There will be extensive discussions on the concept of FinTech. Practical approaches to applyingholistic CDD measures and recordkeeping by FinTech will be  discussed and most of the discussions will be driven home with practical examples, exercises and case studies.


LeishTon Academy’s open-enrolment programmes are held at many locations nationwide; an up-to-date schedule of locations and dates can be found at and can be selected during online enrolment.

Lagos, Nigeria ® 23 – 25 June, 2021

Fee (inclusive of tax)-N275,999.50 ($766.67 for foreign participants) per participant, includes all training and course materials, breakfast, continental/local lunch and breaks each day. Special 10% discount for groups of 4 or more.