- Description
- Curriculum
Description: Money laundering is a growing area of concern for professionals all around the world. Criminals use a wide variety of money laundering schemes to conceal or disguise the true origin of criminally derived funds. In order to combat money laundering, learners need to know what it is, how it works, how to spot it, and what do when they see suspicious signs of money laundering. This course provides employees with a basic understanding of AML principles, schemes, and how to respond to and report suspected money laundering activity.
Objectives:
- Learn what is money laundering and why it is important to business.
- Know the three stages of the money laundering process.
- Understand seven specific forms of money laundering and how criminals leverage it to launder illegal funds.
- Identify the most common money laundering schemes.
- Know the warning signs and signals in each stage of the money laundering process.
- Understand how money laundering is used to finance terrorism.
- Know the global organizations and laws that are used to combat money laundering.
- Know how to report suspicious illegal activity.
Course Outline
- What is Money Laundering?
- Who is involved?
- Why is it done?
- How does it work?
- Three Stages of Money Laundering
- Placement
i. Definition
ii. Examples & kinds of placement
iii. What to look out for
- Layering
i. Definition
ii. Examples & kinds of layering
iii. What to look out for
- Integration
i. Definition
ii. Examples & kinds of integration
- Global Organizations & Laws that Combat Money Laundering
- Terrorist Groups & Activities
- AML Methods Used by Terrorists
- Financial Action Task Force (FATF)
- U.S. Patriot Act
- Financial Crimes Enforcement Network (FinCEN)
- Office of Foreign Assets Control (OFAC)
- Bank Secrecy Act (or BSA)
- Other AML Global Organizations
- What You Can Do
- What & Know
- Due Diligence
