This course is an overview of the issues facing the financial and regulatory community related to money laundering and terrorist financing. The many players in the financial community including banks, non-bank financial institutions, money services businesses, cash-intensive businesses, armored car business, securities dealers, and insurance brokers (to name just a few) have a regulatory and a moral obligation to ensure that their businesses are not used by criminals to facilitate and fund criminal and terrorist activities. The regulatory community has an obligation to understand and implement current and updated industry standards and business norms as these relate to the oversight of the financial industry.
By the end of this course, participants will be able to:
- Define money laundering and terrorist financing.
- Recognize the need for a comprehensive AML/ATF program.
- Identify the need for knowing the customer, conducting customer due diligence, and identifying, monitoring, and reporting customer suspicious activity.
- Learn from current enforcement actions and other law cases how to improve their own AML/ATF program.
- Apply international conventions (European Union Directives, Financial Acton Task Force Recommendations, etc.) to US initiatives.
Suggested Prerequisites: None
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7