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Fundamentals of Anti-Money Laundering

Money laundering is almost as old as money itself. After all, every crime that starts with money, ends with money laundering. Crime simply does not pay without it.

Banks and financial institutions have had anti-money laundering (AML) measures in place for some time. So criminals must look for ‘easier’ targets and new ways to launder their ill-gotten gains. This has brought many more professions within the scope of AML rules. This includes lawyers, notaries, accountants, insurers, high-value goods dealers and so on.

This entry-level course is designed to provide a good grounding in how criminals exploit systems and processes to launder money, plus how to mitigate the risks. Packed full of real-life case studies and practical, worked examples, this course is ideal for those working in risk management or compliance in both financial and non-financial firms, who must develop an AML compliance framework.

Learning Objectives:

  • Be able to set money laundering in its historical and legislative context
  • Understand how and why criminal property is laundered
  • Know AML/CFT requirements for your sector and business
  • Gain a high-level insight in how to develop an AML compliance framework for your business

Chapter 1 — Definition of Terms

19 Lessons 53 minutes
  • The fundamentals of money laundering, including definitions of key terms, such as money laundering, terrorist financing and proliferation financing. Sanctions and the overlap with other types of financial crime are also covered.

Chapter 2 — Money Laundering in Context

8 Lessons 19 minutes
  • The history of money laundering, its size and scale. Plus, why anti-money laundering is important to all businesses in the regulated sector and how to make the business case for AML.

Chapter 3 — Standards, Legislation and Regulation

13 Lessons 34 minutes
  • An introduction to the Financial Action Taskforce, or FATF. Regional and national legislation in the major markets, plus good sources of AML/CFT best practice.

Chapter 4 — Money Laundering Methods

21 Lessons 59 minutes
  • How criminals exploit vulnerabilities in various legal constructs, such as shell companies, nominee directors, trusts and tax havens, to launder money.

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