Training methods used to solve financial crimes by Satender Group

Learning and development
Introduction:
Santander UK plc is related to the Santander group and is one of the leading financial service
providers. It offers a wide range of financial and commercial products. The company has almost
23000 and it has 25 million customers. The organization has nationwide networks and it has
telephone, mobile, and online banking services. Because of online services, financial services
have some financial crimes also. The organization must also have taken proper steps to handle
financial crimes. Financial institutions like Santander should be proactive by detecting the bad
activities and should take the necessary actions as soon as possible and have to address the issues
and should ensure the problem will never happen again. The company Santander is going to
build a system of anti-financial crime (AFC) for their institution to protect their customer,
shareholders, and society. (Renninger, Hidi, Krapp, and Renninger, 2014)
Task 1:
Question 1:
Identification of the learning and development needs to tackle the issue of the
financial crimes of Santander:
Identifying learning and development (L&D) needs are started with knowing the followings:
 organization’s current and
 Future capability needs,
 Assessing existing levels of skills, attitudes, and knowledge.
The assessment can be done using formal and informal methods. This analysis helps in making
decisions about individual learning needs, and also team or organization. The gaps are filled and
are interpreted and prioritized within the wider organizational strategy.

An ongoing learning needs analysis (LNA) is different t than a training needs analysis (TNA). A
Learning Need Analysis is thought of as a current or future health check on the skills, talent, and
capabilities of the organization. It is carried out with multiple stakeholders of an organization. It
is related to finding the ongoing systematic gathering of data and getting deeper insights about
employees’ capabilities and knowing the organizational demands for skills, and also the analysis
of the new implications and changed roles for changes in capability. (Vygotsky, 2011)
From the flow of the business strategy, the Learning needs analysis is identified. The main aim is
to produce the plan to make sure the sufficient capacity to sustain the current and future
performances of the business.
Financial problems are considered global problems and it was extremely complicated to solve
them. Without considering the location, community, or government every financial institution
expects to manage financial crime. The Financial Action Taskforce set standards for financial
crime. The FATF issued a primary policy known as “Forty Recommendations on Money
Laundering” and “IX special recommendation on Terrorist Financing” to give guidance to the
government for financial crimes. To handle misrepresentation and monetary wrongdoing
successfully, people, state-run administrations and associations should have the vital
information, frameworks and cycles set up to manage the delinquent ways of behaving. A
comprehension of monetary examination procedures is fundamental to a solid enemy of
monetary wrongdoing methodology, close by that of compelling administration structures,
anticipation conventions, and authorization activity. Analytical abilities like compelling
preparation, techniques for a proof social occasion, insightful talking of the two observers and
suspects, recuperating continues of monetary wrongdoing across borders, and insightful report
composing is totally remembered for CIPFA's International Certificate program and is basic to
advancing the circumstance at the singular level. The International Diploma extends this
information to incorporate upstream enemy of monetary wrongdoing information on avoidance,
recognition, and chance evaluation, the point being to stop the issue at the source. The thought is
that when these abilities grow all through a public labor force, the public and worldwide scene
dramatically moves to improve things. (Kolb, 2014)
Question 2:

The three types of training methods could be applied to Santander to prevent
the issues of financial crimes:
For any financial institution, fraud will be here serious problem for businesses as well as
individuals. It is important to understand the potential dangers of financial crimes whether it may
be a relatively small organization or it could be larger. We must know the best method of
preventing and reducing financial crimes. The financial institution should be secure to protect the
money from fraudulent activities.
There are different methods for training to protect customers or organizations from financial
crime activities.
 On the job training (Internal Training)
 Off job training (External Training)
The followings are some of the methods that could be applied to the Santander financial
institution to prevent the issue of financial crimes.
1. Assess the risk of fraud:
To identify the risk of fraud the management needs to connect assessments to reduce the fraud
risk. The assessment may be conducted internally or by any third party. It will help to find the
weakness area that will be helpful to know more about the fraud activities in financial
institutions. Safety measures and protocols need to be established and to provide proper training
for employees. Need to find the entry points of the hacker who will get access to the data as well
as the private information of customers. It will take some time money as well as more effort to
find but it will be worth it. Between updating of computers and hope hardware and retaining
employees about the fraud activities of the hacker will help to make prevention of financial
crimes of the Institution. (Darling-Hammond, Flook, Cook-Harvey, Barron, and Osher, 2020)
2. Educate the employees about the fraud activities