Training methods used to solve financial crimes by Satender Group

Santander UK  is a company  related to the Santander group and is one of the leading financial service providers. Because of  giving online services, financial services have some financial crimes also . It explains the Identification of the learning and development  needs to tackle the issue of the financial crimes of Santander and the The three types of training methods which  could be applied to Santander to prevent the issues of financial crimes.

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

The employees who are working in the institution must understand the danger of fraud and in
what way the fraud activities take place. The proper training software and cyber security team
will help the institution with multiple layers of protection than will help to prevent fraud or crime
activities
3. Improved cyber security:
Nowadays technology is grown up a lot many people use their data as a cloud base and access
their banking data online. This will bring many new challenges for Financial Institutions. The
system should need to make sure the data is safe from hackers or attackers. The people who are
using the system also should have ever of accessing the data in a secure way. Many financial
institutions use cyber security with the traditional method. Monitoring transaction activity is also
important. That must be an election for the transaction that is coming into or leaving a financial
institution. Crime activities are taking place and they are looking for a large moment of money
transactions. By the installation of software, one can easily find the stage moments of money
transfer and the employees should aware of these actions that help to reduce fraud activities.
(Deaton, 2010)
4. on opening accounts:
A new customer or any business organization is opening the account. The financial institution
must verify its identity by accessing the information it provided in the form. The entire name and
address should be checked in the personal database.
5. Educate the customer
Financial institutions can utilize further developed programming, run reviews and appraisals, and
utilize state-of-the-art network safety devices to assist with lessening cases of extortion and
guard their clients and business. Notwithstanding, this doesn't imply that do everything. The
customer and clients should be attentive to their data also, or they could become casualties of
misrepresentation. The things they really do could likewise unintentionally endanger the
financial institution.

Give a few hints to the customer to assist them with forestalling turning them into a survivor of
misrepresentation. The institution could distribute direction on everything, through bulletins,
handed information to the customers help to educate them in the fraud activities.
Following are some useful information given to the customer to educate them
 Don’t share any personal information with others on the phone or any other medium
 Don’t share any sensitive information to anyone or on any site
 Do report and replace the stolen credit or debit card if they lost
 Do Review the financial statements on at least a monthly basis
 Don’t share pins and passwords with others
 Use strong passwords for the accounts and change them regularly. Never use the same
passwords again and again
 Use the virus and anti-software on the devices.
6. Committee assignments:
The institution employees should be aware of the fraud activities of hackers. For this, the
institution should arrange proper meetings and gatherings on monthly basis. It will help the
employees to share their ideas to prevent financial crimes. They will share their opinions to find
out the entry point of the hackers, how to find it and what are methods need to apply to protect
the organization, and so on. This is simply the institution problem that is discussed and helps to
improve the performance of the organization.
By applying these methods the Santander financial institution will improve its performance from
the issue of financial crimes. (Moeller, Fischer, Link, Wasner, Huber, Cress, and Nuerk, 2012)
Question 3:

Design of the effective HRD program on financial crimes taking into
consideration:
The HRD program includes the following steps:
 Design
 Implementation
 Evaluation
 Benefits
The first phase of the HRD program is the Assessment phase. In this phase, the organization's
needs are get prioritized and made a strategy is. For Santander financial institution they need a
financial crime change program. This is the first priority that the organization needs to solve the
issue.
Before getting to phase 2, all types of training are determined.
 Where the training is needed
 What kind of training is needed
 Who needs to be trained
 Conditions for the training
The second phase is the design of the HRD program. The main activities are as follows
 Setting objectives
 Selecting the trainer
 Develop the lesson

 Selection of methods and techniques
 Prepare the material
 Schedule the program
Phase 3 is the implementation phase.
Phase 4 is the evaluation (Hatch, 2010)
For financial institutions, it will be very tough to be in staying informed about the applicable and
changing laws and regulations of government and it will be a very challenging task for
implementing it in financial institutions. The financial institution must be reorganized or have to
establish financial crimes Change management program to meet the demands of evolving Global
compliance and regulatory environment. In the current situation financial crimes or increased
because of the use of data online. People are using the facility of mobile banking online banking
services without knowing any financial activities. It will be very challenging for the institution to
control financial crime activities. This human resource development program should have to be
established to control the environment and have to face the challenges of these financial crimes.
There are three considerations to making financial crime Change management programs to be
more effective.
Assess the financial Institutions' Global footprint and the regulatory applicable:
The financial institution must complain about every operation around the world and they should
use proper regulations which are applicable to domestic as well as to foreign entities. Different
entities financial institutions may vary their product and services to customers. So the institution
should understand comprehensively and should make an accurate assessment of laws and
regulations which are applicable to apply. The financial institution should recognize their key
loss and the regulations that are applicable to their operations in different jurisdictions of the
country in which are they in operation. This type of program creates an effective financial crime
Change management. (Hedegaard, 2014)

Making a draft and establishing a methodology for the financial crime change program:
A proper methodology will help to establish an effective framework for financial crime. The
institution should follow it with full determinations to avoid financial crimes with proper
management of human resources and with an assigned budget for it.
What kind of change method need to follow for the institution and how it will be best suited and
how to maintain the financial crime regulations with the stakeholders and so on
Who is going to manage the program? There could be a team will operating to find the financial
crime matters and it should be centralized for global businesses should align with their regulatory
respectively.
How the institution and its global operations should implement the financial crime change
activities in the same way? The management process should be developed internally or the
institution should hire an experienced consultant to manage the financial crime change program
operations
Where all these financial crime regulations should be stored and how all these are documented
throughout the financial institution. How the existing system should implement the financial
crime change management process or any automated techniques should be explored to control
all.
Implementation of the pilot program to access the effectiveness:
The pilot program should be more cost-effective which will help to ensure a smoother
implementation. The institution should test the program with a smaller number of markets to
check whether it is functioning properly or not. If any issues will found or identified it should be
addressed properly before the final output. The institution should follow the best practices and
identify its effectiveness and efficiency during the pilot program and utilize it properly before it
launches. (Bagheri, and Pihie, 2011)
Conclusion:

In this assignment, I explained the Santander financial institution. They are facing the issue of
financial crime because of the use of mobile and online banking. They are having a plan to
control it. For that, they analyze and identify the learning and development needs to tackle the
issue of financial crime. The three types of training methods help to prevent or face the issue of
financial crimes. Finally, the HRD program for the financial institution is explained.
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