FBAA Compliance Fundamentals Training
This is a requirement for new FBAA membership
This course is for Finance Brokers who are new to the industry. If you have joined or electing to join as a member of the Finance Brokers Association of Australia (FBAA), this will cover key educational areas required for finance brokers to act in the best interests of their client, whilst protecting themselves and their client.
The four modules focus on duty of care, best practice and ethical conduct. To obtain the FBAA member discount for this course you must first contact and join the FBAA. Once you have obtained the coupon code return to our site and enrol by selecting the ENROL NOW button at the top right hand corner.
Topics Covered
FBAA Code of conduct – 1 hour
The Finance Brokers Association of Australia Limited (FBAA) Code of Conduct is intended to promote good relations between FBAA Finance Broker members, their clients, credit providers and others involved in the finance industry. The code covers 10 principles and objectives to ensure that members provide good standards of practice that are imperative to act ethically and responsibly when dealing with clients.
FBAA Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) – 2 hours
This course provides an overview of anti-money laundering and counter-terrorism financing. The “Anti-Money Laundering” section describes the legal obligations of financial institutions and other regulated entities to prevent or report money laundering activities. The Counter-Terrorism Financing section describes the legal obligations of financial institutions, other regulated entities and residents of Australia to prevent, report and interdict the financing of terrorists, terrorist organisations and terrorism events.
Australian Privacy Act – 3 hours
This module covers the 13 Australian Privacy Principles which set out the standards, rights and obligations for the handling, holding, use, access and correction of personal and sensitive information.
Credit Fraud Awareness – 2 hours
The cost of fraud in Australia can add up to millions of dollars, as well as negative press and enforcement actions. Therefore, it’s imperative to be more diligent and look for inconsistencies in credit application supporting documentation. This module covers key topics such as; the common fraud types, fraudulent non-disclosure, ways to manage fraud in your business, the impacts of fraud and ways to protect your company and yourself from fraud.
Financial Abuse Awareness Education – 2 hours
This Financial Abuse Awareness Education course provides information about the Banking Code, the key provisions that relate to mortgage brokers and guidance to help you better identify potential financial abuse. Members of the Australian Banking Association (ABA) agree to abide by the ABA’s Banking Code of Practice (Banking Code). The Code was updated in July 2019 and changes include requiring the establishment and maintenance of appropriate processes to identify and deal with customers who may be in vulnerable circumstances.
Finance Abuse Awareness is now a compulsory add-on to the FBAA compliance Fundamentals Training. If you have already completed the course elsewhere you are not required to complete it again, you will be required to let us know so that this can be removed from your courses.