Anti-Money Laundering Regulation

Money laundering and underlying serious crimes happen in almost every country in the world and the costs involved are huge.

A single scheme can involve transferring money through several countries in order to obscure its origins. Money laundering, at its simplest, is the act of making money that comes from Source A look like it comes from Source B. In practice, criminals are trying to disguise the origins of money obtained through illegal activities so it looks like it was obtained from legal sources and the methods used by money launderers are many and varied.

Anti-Money Laundering will introduce you to the concept of ‘money laundering’ and how it works. You will learn about money laundering schemes and understand the principles and the methods used. The course shows you how to comply with regulations, what is required from you and how to report laundering.

• Understand what money laundering is
• Be aware of international controls
• Know what customer due diligence is required
• Create effective anti-money laundering policies
• Know when to report laundering activities

Introduction
• What is money laundering?
• How do people launder money?
• What international controls exist?

Implementing the regulations
• How can we create effective anti-money laundering policies?
• What do effective policies mean for me?
• What is customer due diligence?
• What records do we need to keep?
• What is the role of the money laundering reporting officer?
• What training is required?

Reporting requirements
• When should we report?
• How do we identify suspicious transactions in practice?
• How should we report?

Money laundering schemes
• Use of a nominee
• Simple banking operation
• Banking-business combination
• Shell companies
• Loan-back schemes

This course is designed to appeal to people working in the accounting and finance industry at all levels.

Juan Carlos Venegas is an accountant, certified forensic consultant, fraud examiner and counter fraud specialist. He is the founder and owner of Fiscal Accounts and has been in practice since 2003.