Suspicious Activity Monitoring and Reporting

Suspicious Activity Monitoring and Reporting is Course 4 of 6 in the StudyAML British Virgin Islands Series, focused on how suspicion is identified, escalated, and reported in practice. The course explains how monitoring, judgment, and legal obligations come together to protect firms, individuals, and the financial system. It is grounded in BVI regulatory expectations and aligned with FATF standards. Practical. Risk focused. Legally critical.

20 - 25 minutes

Certificate Included

British Virgin Islands

Description

This self paced course on Suspicious Activity Monitoring and Reporting provides practical guidance on how financial services professionals identify, assess, and report suspicious activity in line with British Virgin Islands AML CFT legislation and international standards. Designed to be completed in 20 to 25 minutes, the course is suitable for all staff, with enhanced relevance for compliance teams, MLROs, and senior management. Learners will explore how suspicion is formed using both objective indicators and professional judgment, how monitoring systems and human oversight work together, and how non transactional red flags often signal emerging risk. The course explains internal escalation processes, the role of the MLRO, and documentation standards that support sound decision making. External reporting obligations to the Financial Investigation Agency are covered in detail, including timing, confidentiality, and the legal consequences of tipping off. Throughout the course, principles are aligned with FATF Recommendations, while clearly explaining how BVI law applies in practice. Realistic scenarios reinforce how staff should act, escalate concerns, and protect themselves through good faith reporting.

What will you learn?

Module 1: Understanding SuspicionYou will learn how suspicion is defined under BVI AML CFT legislation and how it aligns with FATF principles. The module explains the difference between objective indicators and subjective judgment, introduces common red flags relevant to BVI financial services, and clarifies when observation becomes a reportable concern.
Module 2: Monitoring TechniquesThis module explains how transaction monitoring systems support detection while emphasizing the importance of human judgment. You will learn how to assess transaction patterns, identify behavioral indicators, and recognize non transactional red flags that often precede suspicious activity.
Module 3: Internal Reporting ProceduresYou will understand when and how suspicions must be escalated internally, the legal role of the MLRO, and the importance of clear, factual documentation. The module reinforces accountability, confidentiality, and the firm’s internal control framework.
Module 4: External Reporting ObligationsThis module explains when suspicious activity must be reported to the Financial Investigation Agency, how reports support law enforcement, and why timely reporting is critical. It also addresses confidentiality requirements and regulatory expectations.
Module 5: Tipping Off and Legal ProtectionsYou will learn what constitutes tipping off, why it is a criminal offence, and how safe harbour protections apply when suspicion is reported in good faith. The module reinforces appropriate staff responses and conduct during sensitive situations.